Cyber Crime
Top 10 Daily Cybercrime Brief by FCRF [08.10.2024]: Click here to Know More
Important global cybercrime news has been curated by Futurecrime Researchers to keep you informed about various types of digital fraud occurring worldwide and to provide insights into the best mitigation strategies. Read below to learn more in detail.
1. Gauhati High Court Directs Trial Courts to Return Seized Funds from Cybercrime to Victims
The Gauhati High Court issued guidelines for the release of seized money in cybercrime cases registered on the National Cyber Crime Reporting Portal (NCRP). Trial courts should not require FIRs for such cases, and victims’ frozen funds can be released based on police reports verifying the money’s authenticity and ownership.
2. Online Fraud Investigation Exposes Sophisticated Cyber Money Laundering Network in Rajasthan
In September, a 60-year-old retired executive was duped out of over Rs1 crore by cybercriminals posing as CBI and ED officers. During the investigation, Pimpri Chinchwad police uncovered a cyber money laundering syndicate in Alwar, Rajasthan. Funds were funneled via cryptocurrency and hawala networks to masterminds in Dubai, China, and Southeast Asia.
3. Department of Telecom Introduces System to Block Spoofed International Calls
India’s Department of Telecommunications has implemented a system to block fraudulent calls masked as local numbers, stopping about 4.5 million spoofed calls. Citizens can report suspicious communications through the Sanchar Saathi portal. Despite these measures, fraudsters adapt, prompting continued vigilance and proactive reporting from the public.
4. UPI Users in Delhi Hit Hard as Online Payment Frauds Soar
Digital payment frauds have surged in Delhi, with over 25,000 UPI-related complaints, 5,000 internet banking cases, and 5,400 vishing reports filed by mid-2023. Scammers use tactics like fake UPI transaction images, impersonating relatives in financial distress, and phishing emails to deceive victims. Authorities urge online safety measures to prevent fraud.
ALSO READ: Join The Movement: Registration Open for ‘Cyber Safe Uttar Pradesh’ Event by FCRF on October 17
5. Gauhati High Court Streamlines Cyber Crime Procedures: FIR Not Required for NCRP-Reported Cases
The Kishtwar Cybercrime Investigation Unit has recovered Rs1.32 lakh from online scams involving fraudulent mobile recharge services and malicious apps. Since its inception, the unit has recovered Rs43.56 lakh. Authorities urge the public to avoid suspicious links and report concerns to the National Cybercrime Helpline at 1930.
INTERNATIONAL
6. Key Resource on Global Cyber Law Receives 2024 Update
The 2024 update of the Cyber Law Toolkit enhances international legal guidance on cyber operations. It features 32 new hypothetical scenarios, a growing database of 72 real-world cyber incidents, and 39 national positions. The Toolkit aids governments and military officials in understanding legal frameworks amid evolving cyber threats.
7. Lead Negotiator on UN Cybercrime Treaty: U.S. Risks Setbacks by Rejecting Agreement
A U.S. diplomat warned of serious repercussions if the country doesn’t support a controversial U.N. cybercrime treaty. While the treaty has garnered broad approval, concerns about human rights abuses and surveillance persist. Critics argue it could empower authoritarian regimes, leading to potential Senate resistance despite calls for ratification.
8. Digital Banking with Enhanced Security Measures
In 2023, India reported 1.13 million cyber fraud cases, with losses totaling Rs7.5 billion. Despite advanced security systems, cybercrime is rising due to poor cyber hygiene, widespread digital transactions, and vulnerable users. Cybercriminals exploit user behavior, phishing tactics, and malware, prompting experts to urge better consumer awareness and vigilance.
9. UN Sounds Alarm Over Rising Cyber Scams in Southeast Asia
A U.N. report highlights the rise of cyber scam gangs in Southeast Asia, driven by innovative technologies like AI and cryptocurrencies. With an estimated loss of $18-$37 billion last year, these syndicates exploit weak law enforcement and use forced labor, complicating efforts to combat their operations.
10. DOJ Increases Efforts to Tackle AI-Driven Cybercrime
The DOJ has intensified efforts against cybercrime, targeting operations like LockBit and AlphV/Blackcat. Argentieri announced a new Strategic Approach to Countering Cybercrime, emphasizing enhanced enforcement and AI utilization. Discussions on AI’s role in crime and compliance will also take place at Compliance Week’s AI & Compliance Summit on Oct. 8-9.