Cyber Crime
Top 10 Daily Cybercrime Brief by FCRF [04.12.2024]: 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. Cyber Fraud of Rs 4.08 Crore: Kozhikode Police Nab Two More Accused from Madhya Pradesh
Kozhikode Police, Kerala arrested two people from Madhya Pradesh in a Rs 4.08 crore cyber fraud case. The duo, linked to main accused, received Rs 1.5 crore in their accounts. The fraud, executed via WhatsApp and calls, involved swindling a Kozhikode resident. Judicial custody granted.
2. 76-Year-Old Doctor Duped of Rs 28 Lakhs Through ‘Digital Arrest’ Scam
A 76-year-old doctor from Pimpri Chinchwad, Maharashtra lost Rs 28 lakh to cybercriminals posing as CBI officers. Using threats of a “digital arrest” and claims of fraud allegations, the scammers coerced him into transferring money. Realizing the fraud later, he filed an FIR.
3. Police Bust Cyber Crime Syndicate Targeting Stock Investors; One Arrested
Police arrested a person from a trading company for laundering crores using fake Aadhaar and PAN cards. Linked to 33 cyber fraud cases on NCRP, the gang duped victims with fake stock market profits. The person, caught in Noida, manipulated Rs 30.5 lakh from a victim. Fraudulent accounts were traced and frozen.
4. Over 1,700 Skype IDs and 59,000 WhatsApp Accounts Tied to Digital Fraud Blocked: MHA
The Indian Cyber Crime Coordination Centre (I4C) blocked over 1,700 Skype IDs and 59,000 WhatsApp accounts linked to digital fraud. Union Minister reported I4C initiatives, including blocking spoofed calls and saving Rs 3,431 crore from 9.94 lakh complaints. A cybercriminal suspect registry was also launched to combat fraud.
5. Hyderabad Resident Loses Over Rs 2 Lakhs in Online Scam
A 51-year-old Hyderabad man lost Rs 2.1 lakh to a cyber fraudster posing as a loan agent. Tricked with fake approvals, the victim paid various fees before realizing the scam when the fraudster became unresponsive. Cybercrime officials urge verifying lenders’ RBI approval and credentials to avoid such frauds.
INTERNATIONAL
6. Russia Sentences Dark Web Hydra Market Operator to Life Imprisonment
A Moscow court sentenced a mastermind behind the Hydra Market, to life imprisonment and fined him 4 million roubles. Hydra, a major dark web marketplace, generated $1.3 billion in 2020 through illegal activities. Authorities seized narcotics, property, and cryptocurrency assets in a global crackdown dismantling the network.
7. UK Underestimating Cybersecurity Risks, Warns NCSC Annual Review
The UK National Cyber Security Centre’s annual review reveals a tripling of maximum-severity cyber incidents, with 12 of 430 cases classified as critical between 2023 and 2024. Ransomware and zero-day exploits dominated threats. The NCSC warns of underestimated risks, rising attacks, and growing challenges posed by AI and global adversaries like Russia and China.
8. Teenagers and AI-Savvy Employees Pose Rising Cyber Threats, Experts Warn
Data breaches continue to surge, with AI-driven fraud expected to dominate 2025. Key predictions include rising internal fraud, teen involvement in cybercrime, attacks on power-hungry data centers, hacker-on-hacker incidents, and the shift to dynamic identification systems. Experts warn of escalating ransomware sophistication and heightened risks to businesses and consumer data globally.
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9. DMM Bitcoin halts operations six months after a $300 million cyber heist
Japanese crypto exchange DMM Bitcoin reported a $304 million Bitcoin theft in May 2024, exposing risk management flaws. Following a regulatory order, DMM Bitcoin will transfer customer accounts and assets to SBI VC Trade by March 2025. The exchange will cease operations after ensuring customer protection and asset security.
10. Government of Pakistan Proposes Tougher Penalties for Fake News Spreaders
The Cyber Crime Amendment Bill proposes penalties of up to five years in prison or Rs 1 million fines, empowering a Digital Rights Protection Authority to block harmful content. Meanwhile, NACTA, under Federal Interior Minister Mohsin Naqvi, launched a National Fusion Center and intensified counter-terrorism efforts, blocking terror-linked accounts and enhancing coordination.
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