Developed by FCRF’s Future Crime Researchers in association with Algoritha Security Pvt. Ltd., who provide these daily summaries to help the general public and IT professionals share relevant knowledge.
Here are some of the most significant developments today:
Bank Account Hackles
Two persons were arrested in Panchkula for creating fake bank accounts in the names of labourers to channel cyber fraud money to create leads impossible to follow up. This is part of a pattern of using people in desperate situations to make a profit.
Links to Foreign Casinos
Police are looking into alleged links between cybercrime networks and overseas casinos in a suspicion that money earned from online scams are being laundered through these international associations. This reflects the growing transnational dimension of financial cybercrime.
How Social Media Becomes Tool For Personal Scamming Social Media Scam
A famous YouTuber from Mumbai with many followers was arrested for reportedly duping a woman of ₹19 lakhs, showing how people are exploiting social media to dupe others for personal reasons.
Cryptocurrency in Cross-Border Scams
The Crime Branch of Surat busted an international cyberfraud racket having connections in China, Pakistan, and Myanmar that used cryptocurrency as a mode of trading to siphon off the money gained through the fraud activities in other countries.
VirtualMacOSX Data Breach
It is reported that VirtualMacOSX got hacked that resulted in data of 10,000 of its customers, comprising names, email details, passwords and their financial information made to be released on a hacking platform. This is a story that highlights identity theft and financial fraud is a risk at all times.
Building Cyber Resilience
The city of Abilene has invested close to $1 million to fortify its cyber defenses after suffering a recent attack, an example of cities increasingly acknowledging the stakes — and costs — involved in dealing with digital threats.
Recruiting Youth for Cybercrime Gangs
Teens are being sought out by cybercrime gangs who recruit them with promises of easy cash for hacking activities, which risks spreading a “toxic culture” among youths and exposes them to significant legal risks.
Illegal Online Gambling Ring Busted
Thai cyber police broke up illegal online gambling in Pattaya involving over 9 million baht, providing them with leads to larger syndicates on social media.
Open Internet-Connected Cameras
An investigation by BitSight found that The number of insecure, open networked security cameras connected to the internet has tripled over the 2017 holiday season with a jaw-dropping 42,6% of cameras distributing content with no password safeguard in place which explains why we’re seeing serious privacy and security transformations around the globe.
AI in Security
On the positive front, FCRF and CERT-In are launching a National Cyber Crisis Management Programme to train India’s digital warriors, leveraging AI and machine learning to predict threats and improve alertness.
The daily updates from FCRF highlight the ongoing and evolving threat posed by cyber adversaries, reminding all industries to remain vigilant and continue to invest in cyber defenses.
