Page 13 - Cyber Fraud

Stock brokers to report cyber attacks within 6 hrs of detecting them: Sebi

Sebi on Thursday asked stock brokers and depositories participants to report all cyber attacks, threats and breaches experienced by them within six hours of detecting such incidents. They have to report such incidents within the specified time to the exchanges, depositories and the regulator. The incident will also be reported to the Indian Computer Emergency Response team (CERT-In) in accordance with the guidelines issued by CERT-In from time to time, according to a circular. Additionally, the stock brokers and depository participants, whose systems have been identified as 'protected system' by National Critical Information Infrastructure Protection Centre (NCIIPC) will also report such incidents to NCIIPC. "All cyber attacks, threats, cyber incidents and breaches experienced by stock brokers/ depositories participants shall be reported to stock exchanges/ depositories and Sebi within six hours of noticing/ detecting such incidents or being brought to notice about such incidents,

Troubled times for India Inc as ransomware attacks become more frequent

Industry experts point to a spike in the use of Ransomware as a Service (RaaS), a SaaS-based attack vector. Criminals can buy it on the dark web and needn't know how to code it in order to use it

Senior citizens are frequent targets of cyber fraud, says Tsaaro's survey

29% think existing laws surrounding privacy are enough to enable elders to protect their privacy online

Amazon fraud: Two Americans plead guilty in multi-million dollar scheme

Two American nationals have pleaded guilty in a case of multimillion-dollar scheme to manipulate the Marketplace platform of Amazon in which an employee was sentenced to 10 months in prison

Why new CERT-In rules will be game changer in India's cyber security space

Experts believe that though the rules are very broad in nature, this is the first time that a mechanism is being put in India that makes reporting cyber incidents mandatory

Hackers steal $323 mn in crypto from cross-chain protocol Wormhole

Wormhole is a platform that allows users to transfer cryptocurrency across different blockchains.

Consumers lost $770 million in social media scams in 2021: Report

More than 95,000 people reported about $770 million in losses to fraud initiated on social media platforms in 2021, according to a new report

Senior citizens loses over Rs 11 lakh to cyber fraudsters in Mumbai

A senior citizen was allegedly duped of over Rs 11 lakh by cyber fraudsters when she tried to recover the money she had lost while ordering pizza and dry fruits online, police said on Saturday.

Ditch sticky notes and pets' names: How to have safe passwords in 2022

We routinely ignore the recommendations for good passwords in the name of convenience

What is Log4j? An expert explains the latest internet vulnerability

The software is used to record all manner of activities that go on under the hood in a wide range of computer systems

India's cybersecurity services, product industry revenue at $9.85 billion

India's cybersecurity services and product industry logged a revenue of USD 9.85 billion in 2021 and grew at a compound annual growth rate of about 40 per cent in the last two years, a report by Data Security Council of India (DSCI) said. The report titled 'India Cybersecurity Industry Report Services & Product Growth Story' said the key drivers of the Indian cybersecurity industry are adoption of cloud-first strategy; business-led innovation (remote working conditions); growing threat landscape and awareness around threats; and global and domestic regulations around compliance and data privacy. North America and Europe continue to be the leading geographies for services and products revenue with combined 58 per cent revenue contribution, it added. Asia and Middle East and Africa (MEA) are the fastest growing geographies, it said. The report said the Indian cybersecurity services industry grew from USD 4.3 billion in 2019 to about USD 8.5 billion in 2021. The Indian cybersecurity

Airtel CEO warns cyber-fraud cases are becoming 'alarmingly frequent'

Common instances of fraud include fake UPI handles and websites and fake OTPs

Cybercrime pendency rose in two-thirds of states in 2020: NCRB data

Chargesheeting, which indicates the rate of disposal of crime cases by the police, declined in nearly half the states when compared to 2019

How to safeguard yourself from financial frauds, online and offline

Cyber Crime: There's very little you can do at your end, apart from being more vigilant. But certain things that you should do can make a lot of difference

Indian team backs IBM's Telum chip aimed to stem $30 bn consumer fraud loss

IBM Telum Chip: The team owned a significant portion of the logic design, verification and validation, in addition to the complete physical design of the new dedicated on-chip accelerator

Data breaches cost Indian companies Rs 165 mn, rising 18% from 2020: Report

Breaches worldwide cost companies $4.24 million per incident on average, says an IBM study.

Explained: How cryptocurrency turbocharged the cybercrime racket

Cryptocurrency and the exchanges where digital currency can be traded anony­mously have emerged as key tools for the cyber extortionists

Cyber fraud helpline brings banks and police together: Here's how it works

The helpline and its reporting platform have been made operational by the Indian Cyber Crime Coordination Centre (14C) with support from the RBI, all major banks, payment banks, wallets

MHA running national helpline, reporting platform to fight cyber fraud

The national helpline is 155260

Critical entities targeted in suspected state-backed Chinese cyber spying

A cyberespionage campaign with suspected state-backed hackers exploiting a device meant to boost internet security to penetrate the computers of critical US entities