Cybercrime Financial News

Interpol says it arrested 1,006 suspects in Africa during a massive two-month operation, clamping down on cybercrime that left tens of thousands of victims, including some who were trafficked, and produced millions in financial damages

Thrissur police is investigating a scammer who accidentally called a police officer, posing as a cop from Mumbai. The scammer claimed the recipient was involved in a major cybercrime, with their Aadhaar number linked to illegal activities on the «dark net.»

A computer expert who stole bitcoin worth billions of dollars at current prices — and then spent years laundering some of the hacked cryptocurrency with help from his wife — has been sentenced to five years in prison

New Delhi: S.P. Oswal’s ordeal began on the afternoon of 27 August, with an innocuous phone call. It was a pre-recorded message from someone claiming to be from the Telecom Regulatory Authority of India (Trai). Just out of hospital after battling an illness, the unsuspecting 82-year-old Oswal, chairperson of the Ludhiana-based Vardhman Group, pressed 9 when prompted. That keypress was a standard screening procedure by scamsters to ascertain the gullibility of their victims—Oswal, a Padma Bhushan awardee, instantly became a target.

The mobile phone has been weaponised by predators over the years to such a degree that folks can be forgiven for thinking they’re too savvy to fool. But this is happening—and to people who might think they should know better. Things are so bad that even Prime Minister Narendra Modi brought it up recently, asking people to be vigilant. Anyone who watches TV or consumes social media will tell you that the last people they want to hear from are officials of the Narcotics Control Bureau (NCB), the Central Bureau of Investigation (CBI), the Directorate of Enforcement (ED), income tax, or even the local police. Because they all know what happens after that. It’s this very terror that scamsters and bad actors are preying on.

Bhargavi Mani, she fell victim to the scam at Bengaluru International Airport while attempting to access a lounge before her flight. In a viral video, the woman explained how she was duped by the scamsters. According to Mani, she was not carrying her physical credit card and showed a photo of it to the lounge staff. She was then told to download an app and complete a facial scan for security purposes. Mani downloaded the «Lounge Pass» app but decided to get coffee at Starbucks instead of using the lounge. Later, she found she could not receive calls and discovered strangers were answering her calls. Mani then realized her credit card had been fraudulently charged over Rs 87,000, which was transferred to a PhonePay account.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Subscribe to enjoy similar stories. Picture this. You wake up to a series of notifications from your bank and find your credit card has been used without your knowledge.

Subscribe to enjoy similar stories. The City of London Police had put the teenage boy in the suburban Travelodge to protect him. They even set up a code with him and his mom to signal it was safe to open the door: “Lucky lucky." Then they grew suspicious.

Canada’s top banking regulator says the risks linked to artificial intelligence as well as cybercrimes, third-party service providers and the complex methods used by financial criminals to launder money and commit fraud have intensified.

S P Oswal, chairperson of the Vardhman Group and a Padma Bhushan awardee, fell victim to a cyber fraud scheme that cost him ₹7 crore. The Ludhiana Police reported that two suspects from Assam and Bengal were arrested after the incident, and ₹5.2 crore was recovered from them. This case marks one of the largest seizures in India's cybercrime history.

A network of people and virtual currency exchanges associated with harboring Russian cybercrime have been hit with sanctions in a government-wide crackdown on cybercrime

Subscribe to enjoy similar stories. In 2022, an unusual case came across the desk of Erin West, a California prosecutor who specializes in cybercrime. The victim was a 30-year-old man who thought he had met his soul mate on a dating app until he realized he had been conned out of $300,000.

Left Wing Extremism (LWE) has led to the menace being restricted to 43 districts as against 200 before 2014, sources said on Sunday. The sources, on condition of anonymity, said over 700 Maoists have been arrested, surrendered or killed in encounters between January and September this year and exuded confidence that the country will be free from Left Wing Extremism by 2026. In the first 100 days in office of the BJP-led NDA government's third tenure, the focus has been on implementation of the action plan to address the LWE, including building additional security camps in the Maoist affected areas.

Subscribe to enjoy similar stories. India is now the second most targeted nation in the Asia Pacific (APAC) by cybercriminals.

Amit Shah on Tuesday said that from «need to know» to «duty to share» is the need of the hour for developing a resilient cyber infrastructure as India accounts for 46% of world's digital transactions. Addressing the gathering at the first foundation day of Indian Cyber Crime Coordination Centre (I4C), he said cybersecurity is an integral part of national security. Cybercrime has no boundaries, he said, and hence, it is imperative that all stakeholders come together to deal with the menace. The home minister said the government is planning to train 5,000 cyber commandos over the next five years to deal with cybercrimes in India.

A lot has happened since Pavel Durov, the billionaire Russian-born Emirati businessman who founded the popular social media and messaging app Telegram, was arrested in France last week. Durov, who has four passports, including one from France, received support from voices across the ideological spectrum, from the far right to the progressive left. Russian media predictably labelled the arrest a Western conspiracy.

Telegram boss Pavel Durov that has fired a warning shot to global tech titans was started by a small cybercrime unit within the Paris prosecutor's office, led by 38-year-old Johanna Brousse. The arrest of Durov, 39, last Saturday marks a significant shift in how some global authorities may seek to deal with tech chiefs reluctant to police illegal content on their platforms. The arrest signalled the mettle of the J3 cybercrime unit, but the true test of its ambitions will be whether Brousse can secure a conviction based on a largely untested legal argument, lawyers said. In an unprecedented move against a major tech CEO, prosecutors argued Durov bears responsibility for the alleged illegality on his platform, placing him under formal investigation on organized crime charges. He is suspected of complicity in running an online platform that allows the posting of child sex abuse images, drug trafficking and fraud.

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The quantum of loss in FY22 was Rs 80.33 crore, it was Rs 50.10 crore in FY21 and Rs 44.22 crore in FY20. Chaudhary further said to help customers recover the loss on account of fraudulent transactions, the RBI has issued instructions to banks on limiting the liability of customers in cases of unauthorised electronic banking transactions.

S Jaishankar on Saturday called on the international community to be robust in combating terrorism in all its forms and manifestations and dismantle terror sanctuaries and UN-proscribed terrorism financing networks. Jaishankar's remarks came as he participated in the 31st ASEAN Regional Forum (ARF) in Laos' capital Vientiane.