Cyber Crime
Top 10 Daily Cybercrime Brief by FCRF [14.06.2024]: 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. Bank Penalized for Not Addressing Chandigarh Resident’s Cyber Fraud Complaint
The district consumer disputes redressal commission fined SBI for closing Ishwar Chandra Dhyani’s cyber fraud complaint without resolution. Dhyani lost Rs 90,000 to fraud; SBI refunded only half. The commission ordered SBI to pay the remaining Rs 45,000 with interest, plus Rs 12,000 in compensation and legal costs.
2. Bombay High Court Orders Bank to Compensate Company Rs 76 Lakh for Third-Party Cyber Fraud Loss
The Bombay High Court ordered a bank to refund Rs 76 lakh to Pharma Search Ayurveda Pvt Ltd, citing a 2017 RBI circular ensuring zero liability for customers reporting fraud within three days. The court found no negligence by the petitioners, rejecting the bank’s claim and overturning a prior ombudsman decision.
3. Training Program for Digital Literacy and Cyber Safety Launched for the Elderly
Bengaluru’s Elders Helpline, a collaboration between Nightingales Medical Trust and Bengaluru City Police, is launching a free digital literacy and cyber safety program for the elderly. Supported by the Department for the Empowerment of Differently Abled and Senior Citizens, the program starts on World Elder Abuse Awareness Day.
4. A cyber-cyber cell is established in Pulwama to Combat Online Fraud
The Jammu and Kashmir Police inaugurated a cyber cell in Pulwama to combat online frauds. SSP Pulwama P D Nitya stated the unit, led by a DySP rank officer, will handle financial, social media, and hacking complaints. The cell, which receives both online and offline reports, aims to raise public awareness and address cybercrime swiftly.
ALSO READ: 13 Year Old Palghar Teen Outsmarts Cyber Fraudster, Earns Police Praise
5. Cyber Terror in J&K: Fraudulent Calls Frighten Parents, Hackers Exploit Personal Data for Ransom
Cyber fraudsters are impersonating police officers and alarming parents with false claims about their children’s arrests. Victims, like Afifa and Sarika, experienced severe distress but were relieved to find their children safe. Authorities urge vigilance, advising against answering unknown foreign calls and emphasizing immediate reporting to police.
INTERNATIONAL
6. Dutch Intelligence Identifies FortiGate Cyber Threat Campaigns Originating from China
Dutch intelligence discovered a Chinese-sponsored cyber-espionage campaign infecting 20,000+ FortiGate devices globally, including those used by Western governments and the defense industry. The campaign exploited a vulnerability, installing persistent malware. The Dutch National Cyber Security Centre urged vigilance and network segmentation to mitigate impact, highlighting ongoing Chinese political espionage.
7. Cyber Insurance Claims Reach Record Highs in North America
In 2023, 21% of clients reported cyber events, with healthcare leading in cyber insurance claims. Cyber extortion incidents, including ransomware, rose significantly, with median payments increasing to $6.5 million. Despite this, only 23% of companies paid ransoms, continuing a trend of decreasing compliance with extortion demands.
8. Developer of Conti, LockBit Crypter, Arrested
Ukraine’s cyber police, in Operation Endgame, arrested a Russian hacker for developing crypters used in Conti and LockBit ransomware attacks. The hacker’s tools bypassed antivirus systems and facilitated attacks in the Netherlands and Belgium. If convicted, the hacker faces up to 15 years in prison.
9. New Attack Method ‘Sleepy Pickle’ Targets Machine Learning Models
Sleepy Pickle, a new ML model exploitation technique, uses pickle files to inject payloads, altering model behavior upon deserialization. It poses serious supply chain risks by modifying model outputs or data, potentially enabling harmful outputs or data theft. The attack evades detection and broadens the attack surface through supply chain compromises.
10. Two Arrested in the UK for Smishing Campaign Using Homemade SMS Blaster
UK authorities arrested two suspects for using a homemade mobile antenna in a large-scale smishing campaign. The suspects sent phishing SMS messages impersonating banks, bypassing network protections. One suspect remains in custody. The investigation involved DCPCU, telecoms operators, Ofcom, and NCSC to combat evolving fraud tactics targeting the public.