Page 11 - Cyber Fraud

53-year-old Mumbai man sells flat for Rs 1.3 cr, loses all to cyber fraud

The police found money was transferred to eight bank accounts in West Bengal and Uttar Pradesh

Kangra Co-op Bank's account with RBI loses Rs 7.79 cr in cyber fraud case

In a stunning case, cyber frauds have allegedly siphoned off Rs 7.79 crore from the Kangra Co-operative Bank's current account maintained by the Reserve Bank of India (RBI), according to a police complaint filed by the bank. The fraud took place in three separate transactions on as many consecutive days, the first being on April 19, 2023. Since the bank is financially supervised by the RBI and the current account which has been subjected to fraud is also with the regulator itself, the cyber theft has left top officials clueless. They have not been unable to ascertain the person who has withdrawn the amount through fraudulent transactions, even though Kangra Bank officials said they have been able to identify accounts in which the money has been transferred. Sahdev Sangwan, Kangra Bank Senior Manager (IT), complained to the Delhi Police based on which an FIR was lodged in the first week of May and a probe is underway. Sangwan said in his complaint that Kangra Bank holds a current .

Here's how banks are coping with surge in cyber attacks, phishing, fraud

An RBI report on financial stability highlighted that the overall number of online banking frauds and card frauds increased from 1,532 in H1FY22 to 2,321 in H1FY23

Artificial imposter: How AI technology fuelling rise in online voice scams

The artificial intelligence survey was conducted by MSI Research via an online questionnaire between April 13 and April 19, 2023 among a sample of 7,054 adults aged 18 and over from seven countries

Cyber thugs create fake websites of D-Mart, Big Basket to dupe people; held

The Noida Police on Tuesday said they have arrested six members of a cyber gang which allegedly created fake websites of D-Mart, Big Basket, Big Bazaar and duped people of crores of rupees. Through these websites, the thugs offered products at discounted or cheap rates in order to lure gullible buyers, then during payment they gained information about their credit/debit cards and used the details to fraudulently withdraw money from their bank accounts, a senior official said. "On April 3, the cyber helpline team of Gautam Buddh Nagar police arrested the six members of the gang which created fraudulent websites in the name of companies like Big Bazaar, D-Mart, Big Basket and duped crores of rupees from people," Additional DCP (Central Noida) Rajeev Dixit said. The members of this gang are residents of Ghaziabad and Gautam Buddh Nagar, Dixit said, adding that the people duped by them are not only from Delhi NCR area but several other parts of the country. Those held have been identif

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Gang of 4 cyber cheats busted in Delhi for selling products on fake website

The gang used to dupe victims by offering articles on discount by using fake websites created in the name of leading Company Montblanc Simplo GMBH

Indian firms paying an average Rs 8.2 cr for email-driven cyber attack

Indian firms are among the most likely to be hit with a successful email attack, and those affected faced an avg potential cost of over $1 million for their most expensive attack, a report said

India highest attacked country by hackers in Asia, 2nd globally in 2022

India was the highest attacked country by hackers in Asia and the second-most attacked country globally (after the US) in 2022, a report showed on Wednesday.

Cyber crime cases in Mumbai rise by more than 63% in 2022: Report

As far as detection is concerned for the 2019-2022 period, 1,292 cases were solved, including 346 in 2022, out of the 12,261 registered cases, the report said

Over 6K customer data breaches, accounts compromise, admits Norton LifeLock

Cyber-security services provider Norton LifeLock has been hit by a data breach where more than 6,000 of its customers had their accounts compromised

829 mn cyber attacks blocked; 59% of targeted websites in India: Indusface

Mid-market firms with revenues of $10 million to $1 billion faced 45% of attacks; only 21% were large ones with over $1 billion in revenue; smaller firms suffered 34% of attacks

Experts warn risks from unknown links as spyware infests social media

Crooks impersonating journalists, business execs, and even friends and families of victims in over 200 countries to extract sensitive data

How can you protect your bank account from cyber attacks?

Is your money safe in banks? You may wonder, because there has been an increasing number of cyber-scams aimed at your bank accounts. How can you protect your bank accounts from such cybercriminals?

Mumbai logs 3,668 cybercrime cases till Sep; nearly 1,000 financial frauds

The Mumbai Police's cyber crime wing has registered 3,668 cases till September this year, of which 1,073 account for online or credit card fraud, an official said. Of the 3,668 cases, 214 were cracked with the arrest of 334 people, he said. "Currently Mumbai's population is more than two crore and cases related to cyber crime are increasing day by day. Therefore, 220 police personnel, including constables, are being trained to deal with such cases," the official said. Out of the total cases, 299 were related to obscene emails or MMS posts in which 94 people were arrested, he said. "For fake social media profiles or morphing e-mails, 108 cases were reported and 25 people were arrested. As many as 1,073 cases pertaining to credit card or online fraud were registered, in which 16 people were arrested. Also, 1,141 cases of cheating were registered in which 41 people were arrested," he said. Seven cases of tampering with computer source code, 31 cases of phishing or spoofing mail, 22 c

Cyber attacks triple in last 3 yrs, but security funds remain underutilised

The funds meant for cybersecurity have been underutilised with only Rs 98.31 crore used of the total Rs 213 crore sanctioned

Tepid demand for cyber insurance policies despite steep rise in attacks

Experts see signs of change because of heightened awareness and increase in enquiries

Bluebugging: How hackers use your Bluetooth-enabled devices to steal data

Understanding the mechanism of the crime and the steps you must take to evade it

Blocked 700 crypto accounts between April-Sep over irregularities: WazirX

The crypto exchange received 828 requests from law enforcement agencies, of which 764 were Indian and 64 were foreign

Meta introduces new privacy features for protecting its young users

All those under age 16 (or under 18 in some countries) will be defaulted into more private settings when they join Facebook, Meta says