Cyber Crime
Top 10 Daily Cybercrime Brief by FCRF [20.06.2024]: 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. Telangana Cybersecurity Experts Uncover International Illicit SIM Card Distribution Network
Telangana State Cyber Security Bureau (TGCSB) dismantled an international cybercrime network illegally procuring and selling SIM cards. main suspect, Vijay, based in Dubai, collaborated with suppliers in India to export SIM cards to cybercriminals, including Chinese nationals. The TGCSB warns the public about identity misuse and legal consequences of selling SIM cards.
2. Parcel Drug Scam: Woman Locked Up and Defrauded of Rs 11 Lakh by Cyber Criminals
A Pune bank manager lost Rs 11 lakh in a drugs-in-parcel scam after cybercriminals posing as courier executives and law enforcement officers coerced her into providing remote access to her phone. They manipulated her to transfer funds, claiming her bank account was involved in illegal activities. An FIR was filed.
3. Bank Worker Among Two Held for Rs 48.5 Lakh Cyber Fraud in Noida: Police
On June 19, cybercrime police arrested bank employee Rishabh Mishra and impersonator Dheeraj Porwal for creating a fake trading platform to defraud people. They opened accounts for fictitious firms, transferring illicit funds. Police seized a mobile phone and froze Rs 3.25 lakh. Charges include cheating, forgery, and criminal conspiracy.
4. Mastercard Collaborates with CERT-In to Enhance Cybersecurity in Financial Sector
CERT-In and Mastercard have signed an MoU to enhance cybersecurity in India’s financial sector. They will collaborate on incident response, capacity building, and sharing threat intelligence. The partnership includes training programs and workshops to improve information security, supported by AI technology. This initiative aims to strengthen India’s financial digital ecosystem.
5. Drug Trafficking Scam: 78-Year-Old Scammed by Cyber Criminals
A 78-year-old retired man from Hyderabad lost Rs 10 lakh to cybercriminals posing as TRAI and cybercrime officials. They falsely accused him of using his mobile number for drug smuggling and money laundering, coercing him to share bank details and transfer money. He later reported the fraud to the city’s cybercrime wing.
INTERNATIONAL
6. Cyberattack on CDK Global Affects Thousands of U.S. Car Dealerships
CDK Global, a SaaS provider for car dealerships, was hit by a cyberattack, causing system shutdowns and business disruptions for over 15,000 dealerships in North America. The attack, possibly ransomware, led to data center closures and VPN disconnections and forced dealerships to revert to manual operations.
7. Global Cyber Insurance Market Projected to Reach USD 130.57 Billion by 2033 | 23.46% CAGR
The global cyber insurance market, valued at USD 15.87 billion in 2023, is projected to reach USD 130.57 billion by 2033. Increasing cyber threats and regulatory pressures drive this growth. Key players include Chubb, AIG, and Allianz. The BFSI sector, standalone policies, and solution components are expected to dominate the market.
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8. G7 to Create Cybersecurity Framework for Energy Sector
The G7 nations will create a collective cybersecurity framework for energy systems’ operational technologies. Announced at the G7 Summit, this initiative aims to protect global energy supply chains from cyber-attacks. Concurrently, the US DOE released cybersecurity principles to enhance supply chain security for energy infrastructure, supported by major industry players.
9. Kraken Crypto Exchange Suffers $3 Million Theft Due to Zero-Day Exploit
Kraken suffered a $3 million theft through a zero-day flaw exploited by a security researcher who inflated their account balance. The flaw allowed unauthorized fund deposits to be made without completion, but client assets were reportedly unaffected. Kraken labeled the incident as extortion, coordinating with authorities on the criminal case.
10. Hacker Demands $2 Million Bitcoin Ransom to Prevent Student Data Leak
A significant data breach affecting over 4 million US students involves a hacker known as Sp1d3r, who demands 30 Bitcoin (approximately $2 million) to prevent publicizing the stolen information. The breach targeted a cloud-based analytics firm, exposing sensitive details, including student and parent data. Investigations link the incident to the UNC5537 hacking group, resulting in arrests related to the cybercrime.