Cybercrime Financial News

₹10,000 credit, then a ₹30,000 credit, all while he was on the call. Then, he suddenly gets all worked up and is like, ‘beta, mujhe toh ₹3,000 hi bhejne the par galti se ₹30,000 bhej diye, pls aap baaki paise wapas bhejde mai doctor sahaab ke yaha khada hu, unko dena hai paise’," she added. Further adding, she said, “The kind of urgency he was creating by crying out loud that he sent extra money, is at the doctor’s doorstep, sending UPI IDs to send the remaining amt back to etc.

fintechs and law enforcement agencies on steps to foster strong collaboration and address key challenges such as cybersecurity and digital financial fraud. Some key issues that were discussed in a workshop held by the finance ministry on Tuesday included the creation of a suspicious registry of banking correspondents and fraudsters involved in financial fraud and the geotagging of digital transactions to track the money trails.

Delhi Police has asked Telangana Chief Minister Revanth Reddy to join the probe on May 1 in connection with Union Home Minister Amit Shah's doctored video being circulated on social media, official sources said on Monday. According to sources, the police served notices to five people, including Reddy, who posted the video on X. Reddy, who is also the Telangana Congress chief, has been asked to appear with his mobile phone allegedly used for posting the fake video on X, according to sources. The Special Cell of the Delhi Police had on Sunday registered an FIR after the Indian Cybercrime Coordination Centre (I4C), which is under the Ministry of Home Affairs, filed a complaint about the doctored video of Shah where his statements indicating a commitment to abolish quota for Muslims on religious ground in Telangana were changed to make it seem that he was advocating scrapping all reservations.

₹5.2 crore in a click. The 52-year-old Jayanagar business, new to stock market trading, is a victim of sophisticated cybercrime.

In an era marked by increasing cybercrime, safeguarding demat accounts has become paramount, and several security measures, including the Unique Client Code (UCC), have been implemented to enhance protection. The UCC acts as a crucial identifier, ensuring the confidentiality and integrity of client information.

China’s highest prosecutorial authority is stepping up efforts to combat the growing wave of cybercrimes by targeting criminals who exploit blockchain and metaverse projects for illegal activities. 

By Katharine Jackson and Raphael Satter

An Australian cybercrime police officer has been accused of stealing 81.616 Bitcoin during a steroid trafficking investigation in Melbourne.

₹276 crore in FY23. While this figure may seem small in the context of the banking sector's total assets, the expanding digital landscape underscores the urgent need for durable strategies to fight cybercrime, ensuring consumer confidence and trust. In a joint effort, the Department of Telecommunications has blocked 140,000 mobile numbers involved in financial frauds, along with several lakh SIM cards.

identity fraud. One of the most prevalent forms of cybercrime is Know Your Customer (KYC) fraud, where cybercriminals exploit weaknesses in the identity verification process. KYC fraud is evolving rapidly, presenting new challenges and threats to individuals and businesses.

By Renju Jose

Trezor has reported a security breach that has exposed the contact information of nearly 66,000 of its users.

The surge in illegal activities, through Chinese loan apps, has raised concerns about the exploitation of unemployed youth and financially-stressed individuals in India.

crypto wallet addresses in 2023, including addresses identified as sanctioned or linked to terrorist financing and scams, crypto research firm Chainalysis said on Thursday. Cryptocurrencies enable people to send money around the world without using the mainstream financial system. The underlying blockchain technology creates a record of transactions where senders and receivers are identified only by their wallet addresses, which are a string of letters and numbers.

JPMorgan Chase & Co. has seen an increase in hackers attempting to infiltrate its systems as the Wall Street giant and its rivals continue to deal with a surge in global cybercrime, according to Mary Callahan Erdoes, who leads JPMorgan’s asset and wealth management division.

Beware of fake delivery scam! What to do if victim of cybercrime According to a report in the Hindustan Times, companies need to obtain a no-objection certificate (NOC) from the DoT to begin selling eSIMs in India. Singapore-based Airalo and Spain-based Holafly have been removed as the two companies did not possess the necessary authorisation.

Issuing a central bank digital currency (CBDC) requires adequate attention to security, the Bank for International Settlements (BIS) reminded central bankers in a report on Nov. 29. An integrated risk-management framework should be in place starting at the research stage, and security should be designed into a CBDC, the report said.

The attacker who drained $46 million from KyberSwap relied on a “complex and carefully engineered smart contract exploit” to carry out the attack, according to a social media thread by Ambient exchange founder Doug Colkitt. 

Australian authorities will oblige local companies to be fully transparent and report any ransomware cyberattacks on their businesses. The country’s economy lost $2.59 billion to cybercrimes in 2021. 

The Chinese government released a statement on Nov. 10 declaring that anyone stealing digital collections, such as nonfungible tokens (NFTs), will be subject to theft sentences.

Ethereum co-founder Vitalik Buterin recently authored a research paper, the primary focus of which was integrating privacy features into blockchain transactions while ensuring compliance with a range of regulatory requirements.