Cyber Financial News

arrested Sahil Khan from Jagdalpur in Chhattisgarh in connection with the Mahadev betting app scam case. The Bollywood actor and fitness coach's arrest came after the Bombay High Court rejected his pre-arrest bail plea. Known for his roles in Bollywood movies such as Style and Excuse Me, Khan initially gained fame through a musical video of Stereo Nation's Nachange Sari Raat.

central bank plans to soon change guidelines to permit banks to temporarily freeze accounts suspected of being used to commit cyber crimes, as it battles a rising wave of online crime, three sources told Reuters. The plans come as internal government data shows individuals have lost funds of nearly $1.26 billion in financial institutions to cyber fraud since 2021, with one of the sources saying about 4,000 fraudulent accounts are opened every day. Tens of thousands of Indians receive daily telephone calls seeking to defraud them by accessing their bank accounts and wallets to siphon off money that then accumulates in the scammers' accounts.

Navi Mumbai has become the latest victim of cyber fraud, losing a substantial sum of Rs 45.69 lakh in a share trading scam, as revealed by an official statement on Tuesday. The victim, whose identity remains undisclosed, was reportedly approached by a group of cyber criminals through various social media platforms. These individuals, promising lucrative returns, convinced the victim to invest in share trading between March 2 and April 14. Despite investing nearly Rs 45.69 lakh during this period, the victim failed to receive any returns on the investment, leading to significant financial repercussions. In response to the victim's complaint, the cyber police station has taken swift action, registering a First Information Report (FIR) against five suspects. The charges include «cheating» under Section 420 of the Indian Penal Code and «criminal breach of trust» under Section 406, among others. Law enforcement authorities are actively pursuing the case, employing various investigative techniques to identify and apprehend the accused.

cyber security be any different? AI is fast becoming a digital watchdog. However, it comes in as collaboration — not competition — to human intelligence as companies seek to secure the virtual world. So, unlike several other branches of technology, cyber security professionals aren’t facing job culls. Rather, the demand for them is set to boom as India grapples with a rise in cyber attacks, with a 30% supply gap telling on the industry.

U.S. Cybersecurity and Infrastructure Security Agency said Russian government-backed hackers have used their access to Microsoft's email system to steal correspondence between officials and the tech giant, an emergency directive by the U.S. watchdog released on Thursday showed. In the directive dated April 2, the agency warned that hackers were exploiting authentication details shared by email to try to break into Microsoft's customer systems, including those of an unspecified number of government agencies.

Vultur banking trojan that is posing as a security to steal data from Android users. Researchers claim that the latest version of the malware includes more advanced remote control capabilities and an improved evasion mechanism. A report from Fox-IT (spotted by Bleeping Computer), which is part of the NCC Group has warned users that cybercriminals are spreading new, more evasive version of Vultur to victims through a hybrid attack. This type of attack relies on «smishing» (SMS phishing) and phone calls that trick their targets into installing a version of the malware that poses as the McAfee Security app.

NEW DELHI : The Bureau of Civil Aviation and Security is examining the implications of artificial intelligence and other emerging technologies as part of its efforts to safeguard against cyber threats, a top official said. "New technologies come with new challenges. We are examining AI, we are consulting some experts also," BCAS director general Zulfiquar Hasan said, speaking on the sidelines of the 38th Raising Day of the Bureau of Civil Aviation Services.

—Name withheld on request In today’s digitally interconnected world, our reliance on online transactions for personal and business purposes exposes us to increasing cyber threats. As an entrepreneur dealing with multiple online transactions, your concerns are valid. Safeguarding this private and sensitive data is imperative.

Indian government said it was rescuing its citizens who were lured into employment in Cambodia and were being forced to participate in cyber fraud schemes. The Indian embassy in Cambodia is working with Cambodian authorities and has rescued and repatriated about 250 Indians, including 75 in the last three months, India's Ministry of External Affairs spokesperson Randhir Jaiswal said in a statement on Saturday. Jaiswal was responding to Indian news reports that stated more than 5,000 Indians are trapped in Cambodia and being forced to carry out cyber frauds on people back home.

US imposed sanctions on Zhao, Ni, and the Wuhan Xiaoruizhi Science and Technology Company Limited (Wuhan XRZ) for their roles in malicious cyber operations that jeopardised national security. These measures, taken under Executive Order 13694, aim to curb the abuse of computer networks by hostile actors. Remarkably, the Department of Justice announced a $10 million reward for information leading to the identification and location of individuals and entities involved in APT31's illicit activities.

Winnipeg.But he did not serve in Canada’s armed forces.Instead, he was a member of China’s People’s Liberation Army, according to records obtained by Global News.Before arriving in Canada in 2021, Xu worked at the military academy of the Chinese cyber warfare department that hacks Canadians and steals their secrets.Chinese state-sponsored cyber attacks have targeted Canadian companies, activists and government agencies.But three years ago, Xu obtained permanent residence in Canada and moved into a newly built suburban home in the Manitoba capital.Questioned by immigration officers when he landed at Vancouver airport, the 43-year-old said he and his wife left China because “the air quality was getting bad.”“Through the internet, we found out that the air quality is better in Canada.”He denied involvement in, or knowledge of, China’s cyber warfare and espionage programs, and insisted he was only a PLA instructor.But the army school in Henan where he taught is the training centre for the PLA hacking units that target Canada and the United States.It is also on the Canadian government’s list of “research organizations and institutions that pose the highest risk to Canada’s national security.”In addition, it has been rated a “very high risk due to its record of training signals intelligence and political warfare officers and carrying out offensive cyber operations.”Xu’s wife worked at the same PLA facility, as a language instructor, he told immigration officials.

In recent news, the UN stated that North Korea has been actively involved in “malicious” cyber activities and crypto theft, contributing to nearly half of its foreign currency revenue and funding its weapons programs. 

₹7.33 lakh to a con artist posing as a Mumbai police officer. The fraudster initially pretended to be from a courier company and informed Dr. Esther that authorities at Mumbai airport had intercepted a package addressed to her.

The Hong Kong government recognized Binance, a prominent cryptocurrency exchange, with the Cyber Security Professional Merit Award, highlighting its efforts to safeguard users in the dynamic Web3 landscape.

SYDNEY (Reuters) — New Zealand's central bank on Monday said banks must report major cyber incidents within 72 hours, as it plans to implement formal cyber reporting requirements in phases through this year.

Two individuals, including a senior airman and cyber analyst in the U.S. military, have been charged for money laundering in connection to an NFT “rug pull” scheme, a February 23 statement from U.S. Immigrations and Customs Enforcement (ICE) reveals.

(Reuters) — Henry Schein (NASDAQ:HSIC) forecast 2024 adjusted profit below Wall Street estimates on Tuesday, as the dental products distributor expects the impact from a cyber attack it reported in October to spill into this year.

Microsoft says U.S. adversaries — chiefly Iran and North Korea and to a lesser extent Russia and China — are beginning to use generative artificial intelligence in mounting and organizing offensive cyber operations

Indian Statistical Institute for collaboration in multiple research activities, which will be carried out under the cyber-physical systems (CPS) umbrella for three years. The two have set up a virtual interdisciplinary research centre to foster both fundamental and applied research in sustainable and trustworthy cyber-physical systems with immediate impact in deploying AI and CPS in the Indian ecosystem, a statement said.

legal risk, cyber risk and the impact artificial intelligence and machine learning (AIML) will have on the banking system as these new technologies take shape for a larger role in public like Reserve Bank of India (RBI) deputy governor T Rabi Sankar said. Sankar who oversees the department of fintech, currency management and department of payment and settlement systems at the RBI among others said banks as risk managers have to be aware of the changes AIML will bring even as they figure out the implementation of these technologies in day to day operations. He suggested that it would be better if the training of people and upgrade of systems can be co-ordinated between banks by industry bodies like the Indian Banks’ Association (IBA) because the nature of AIML technology is very different from before.

In an increasingly digital world, our reliance on the internet has grown exponentially. From managing our finances and shopping to staying connected on social media, our lives are intricately woven into the online fabric. While the benefits are immense, so too are the associated risks. Cyber threats and attacks loom large, targeting not just businesses, but individuals. The question is: Are you prepared for the unexpected? Do you have a safeguard for your digital assets? Here's why investing in individual cyber insurance is not just a prudent choice; it's a necessity.