Page 5 - Cyber Fraud

Raise awareness about cyber frauds, identify mule accounts: RBI report

A Reserve Bank report on Monday stressed increasing awareness about cyber frauds and efforts to identify mule accounts amid rising digital transactions. With the rise in digital transactions, the incidents of cyber frauds using novel modus operandi have increased in recent times, the December edition of the Financial Stability Report (FSR) released by the RBI said. "Considering the fact that the financial losses and emotional distress caused by these frauds are substantial, it is imperative that Regulated Entities (REs) undertake wide-scale preventive awareness initiatives to caution the public about such frauds and intensify efforts to identify mule accounts," it said. According to the RBI's Report on Trend and Progress of Banking in India 2023-24, the number of bank frauds witnessed a significant year-on-year increase in the first half of the current fiscal to 18,461 cases and the amount involved jumped more than eight-fold to Rs 21,367 crore. The number of frauds during ...

DoT asks telcos to play cybercrime awareness caller tune 8-10 times daily

The telecom department has ordered operators to play cyber crime awareness caller tune 8-10 times per day to telephone subscribers for three months. According to the order copy sent to the telecom operators, the caller tunes will be provided by the Indian Cybercrime Coordination Centre (I4C) -- a cyber crime wing under the Home Ministry. "In order to make the public aware about cybercrime through the caller tune campaign, it has been decided to play caller tune audios through pre-call announcement/ring back tone arrangement, which will be provided to TSPs by nodal officers of I4C. Caller tunes to a subscriber may be played about 8-10 times a day," the order dated December 18 said. The order asked telecom service providers (TSPs) to immediately take action on the order. "Different caller tunes related to cybercrime will be provided on a weekly basis for a period of three months," the order said. There has been a rise in the incidence of financial fraud through new scams like digita

Bureau secures $30 m in Series B funding to combat growing cyber fraud

With global fraud losses surging past $5 trillion annually-a staggering 56 per cent increase in the past decade-the demand for advanced fraud prevention has never been more critical

59,000 fell victim to online trading fraud in Odisha over 6 yrs: CM Manjhi

More than 59,000 people became victims of online trading frauds in Odisha during the last six years, Chief Minister Mohan Charan Majhi informed the Assembly on Monday. In a written statement, Majhi said 769 online trading fraud cases were reported in the state between 2019 and November 2024 and 59,437 people were victims of such frauds. Most of the online trading fraud cases reported in 2023 and 2024. Altogether 190 cases involving cheating of 18,994 people were reported in 2023, while 40,270 people were cheated in 472 cases the next year, the chief minister said in question of Congress MLA Tara Prasad Bahinipati. In 2023, the Economic Offences Wing (EOW) of Odisha police registered four online trading fraud cases against cyber criminals, who allegedly cheated 18,804 people, he said. Similarly, the EOW has registered three such cases in the current year, in which 40,219 people were cheated during online trading, Majhi said. Stating that steps have been taken to control online trad

India should make cybersecurity national mission, become leader in efforts

Risks are going increase as the country adopts new technologies and becomes more digital

AI-driven, deepfake-enabled cyberattacks to increase in 2025: Report

AI-driven and deepfake-enabled cyberattacks are anticipated to become increasingly prevalent in 2025 with sectors like healthcare and finance most prone targets, according to a recent report. The India Cyber Threat Report 2025 by the Data Security Council of India (DSCI) and Seqrite, spotlighted the evolving tactics of cybercriminals and the rise of AI-driven attacks as a major concern. "Artificial Intelligence (AI) will be used to develop highly sophisticated phishing campaigns utilising deepfake technology and personalized attack vectors, making them harder to detect. AI-driven malware will adapt in real-time to evade traditional security measures, while data poisoning attacks will compromise the integrity of critical AI systems in sectors such as healthcare and autonomous transportation," the report noted. Deepfake technology will create compelling malicious content, including fake video or audio messages from trusted sources. This will facilitate more effective social engineerin

Crores lost to 'digital arrest' scam: Here's how to avoid falling victim

A 90-year-old Gujarat man lost Rs 1 crore to fraudsters posing as CBI officers. Here's how you can protect yourself

ED team conducting raids in cyber fraud case attacked in Delhi, 1 detained

An Enforcement Directorate team undertaking searches in a cyber fraud linked money laundering case was allegedly attacked here on Thursday, officials said. The agency has registered a police FIR about the incident that took place at a farmhouse that was raided by ED officials in the Bijwasan area of the national capital that falls under the Kapashera police station in southwest Delhi. An Enforcement Officer (EO) suffered minor injuries during the attack. He is continuing with the searches after he was given first aid, officials said. The probe pertains to a case against the PYYPL app. The alleged accused in the case, including Ashok Sharma and his brother, allegedly attacked the ED team. The situation is under control and searches are going on, the sources said. The search operations, according to sources, has been launched after the ED got inputs from the I4C and the Financial Intelligence Unit (FIU) about cyber crimes like phishing, QR code cheating, part time job fraud leading

Govt blocks 669K SIM cards, 132K IMEIs to curb cybercrimes, Centre tells RS

The Centre has blocked 6.69 lakh SIM cards and 1.32 lakh International Mobile Equipment Identity (IMEI) numbers reported by police authorities to check cyber crimes in the country, Rajya Sabha was informed Wednesday. In a written reply to a question, Minister of State for Home Affairs Bandi Sanjay Kumar said the central government and Telecom Service Providers (TSPs) have devised a system to identify and block incoming international spoofed calls displaying Indian mobile numbers appearing to be originating within India. "Such international spoofed calls have been made by cyber criminals in recent cases of fake digital arrests, fedex scams and impersonation as government and police officials," the minister said. Directions have been issued to the TSPs for blocking of such incoming international spoofed calls, he said. "Till November 15, 2024, more than 6.69 lakh fake SIM cards and 1.32 lakh IMEIs as reported by police authorities have been blocked by the government of India," he ...

Cyber fraud stole Rs 11,333 cr till Sep, PM warns against 'digital arrest'

Stock trading scams emerged as the biggest culprit, with 228,094 complaints filed, incurring losses of Rs 4,636 crore

HDFC Life reports data leak, begins investigation with security experts

Previously, Star Health and Allied Insurance had to launch a forensic investigation, led by independent cybersecurity experts, into a cyberattack it was subjected to

Over 17,000 WhatsApp accounts blocked in major cyber fraud operation

The Ministry of Home Affairs has blocked over 17,000 WhatsApp accounts linked to digital arrest frauds, following an investigation that uncovered international cybercrime networks

UP minister Gupta's company accountant duped of Rs 2.08 cr by cyber frauds

An accountant of a company owned by Uttar Pradesh cabinet minister Nand Gopal Gupta's was allegedly duped of Rs 2.08 crore by cyber frauds, police said on Saturday. On the complaint of Ritesh Srivastava, a case was registered on Thursday in the cyber police station against unidentified individuals under section 319 (2), 318 (4) of the Bharatiya Nyaya Sanhita and sections 66C and 66D of the Information Technology Act, they said. Srivastava works for Icavo Agro Daily Private Limited, owned by the minister and managed by his son Abhishek Gupta. According to the complaint, Srivastava received a WhatsApp message on November 13 from a number displaying Abhishek's profile photo. The sender claimed it was a new number and sought sensitive financial information related to a proposed business meeting, the complainant said. Believing the message to be genuine, Sivastava shared the company's account details on that number following the instructions of the company's director, it ...

Centre freezes 450,000 'mule' bank accounts used in cyber fraud schemes

The Citizen Financial Cyber Frauds System found 40,000 mule accounts in SBI, 10,000 in PNB, 7,000 in Canara, 6,000 in Kotak Mahindra, and 5,000 in Airtel Payments Bank

ED files charge sheet against cyber fraudsters as I4C issues new advisory

Close on the heels of Prime Minister Narendra Modi urging people to guard against the menace of 'digital' arrests, probe agencies said they are taking action against this category of cyber crime with the ED filing a charge sheet in one such case and the I4C issuing a fresh advisory. The Enforcement Directorate (ED) issued a statement on Saturday, saying it filed a prosecution complaint before a special Prevention of Money Laundering Act (PMLA) court in Bengaluru last month against eight accused who allegedly "lured" common people through "fake" IPO allotments and stock market investments through fraudulent apps. "Probe found that a huge network of cyber scams in India, involving fake stock market investments and digital arrest schemes executed primarily through social media platforms like Facebook, Instagram, WhatsApp, and Telegram. "Known as 'pig-butchering' scams, stock market investment scams entice victims with promises of high returns, using fake websites and misleading WhatsAp

Awareness essential to protect oneself from 'cyber arrest' scams: PM Modi

Prime Minister Narendra Modi on Sunday spoke about the cyber crime of "digital arrests", noting that it has hit all sections of society and urging people to adopt the mantra of "stop, think and take action" when faced with such a scam. In his 'Mann ki Baat' broadcast, Modi said probe agencies are working with states to deal with the issue but added that awareness is essential in protecting oneself from this crime. The prime minister played a representative video to show how such criminals pose as probe agency officials to prey on people's fear after gathering detailed information about their potential victims. He said, "Beware of Digital Arrest frauds.No investigative agency will ever contact you by phone or video call for such an investigation." Modi asked people to dial 1930 to connect with national cyber helpline or connect with its portal and also inform police about such a crime. They should record such conversations and also take screenshots, he said touching on the crime wh

Cyber criminals make fake WhatsApp accounts of Goa minister, another MLA

Goa's Transport Minister Mauvin Godinho and BJP MLA Nilesh Cabral have been targeted by cyber fraudsters who have allegedly created their fake profiles on WhatsApp and have been asking for money from people. BJP leader Godinho said a police complaint has been lodged in connection with his fake WhatsApp account. In a post on his Facebook page late Wednesday evening, Godinho said a false message has been circulated using his name and image on WhatsApp requesting for money through an Amazon Pay e-gift card. "The message is fraudulent and I strongly condemn such malicious activities," he said. The minister said an official complaint has been lodged with the Vasco police and the matter is under investigation. "I urge everyone to remain vigilant and not to engage with any suspicious requests," he said. In a similar cyber fraud, a fake WhatsApp account with an image of Curchorem MLA Cabral has also been created to seek money from people. Cabral, the former state PWD minister, on Thursd

Meta launches initiative with Centre to empower Indians against scams

Kicking off the national campaign, Meta has released an educational film featuring Bollywood star Ayushmann Khurrana

Hacker builds website to leak insurer Star Health's data days after lawsuit

While it's unclear if the website was made by the same individual Star Health sued, the hacker claims that a senior Star Health official sold the data and later tried to renegotiate terms

How fraudsters use deepfakes of Virat Kohli, Ambani to scam you: Explained

Scammers are setting up over 1,000 phishing domains daily and creating deepfake videos of well-known Indian personalities like Mukesh Ambani and Virat Kohli to push dubious gaming apps