VOIP SYSTEMS IN FRAUD
Jammu and Kashmir police busts international cyber fraud racket targetting victims in US, UK and Canada
Jammu and Kashmir police have dismantled a sophisticated international cyber fraud network in Srinagar. Seven individuals were arrested for targeting victims in the USA, UK, and Canada. The syndicate used fake online advertisements and psychological tactics. Money was laundered through digital and cryptocurrency channels. Investigations are ongoing to identify more suspects and victims.
Using AI to tackle mule accounts to be in focus during two days conference by CBI, Centre
The use of artificial intelligence in tackling mule accounts, which form a key element in facilitating laundering of illicit funds stolen through cyber crimes, will be one of the focus areas of the two-day conference organised by the CBI and the Union Home Ministry's Indian Cyber Crime Coordination Centre (I4C) beginning Tuesday, officials said.
India's SIM-binding rule: Impact on WhatsApp, businesses, and digital India
India's Department of Telecommunications has mandated SIM-binding for messaging apps like WhatsApp and Telegram. This move will disrupt businesses relying on these platforms for customer service and automation, while also impacting regular users' multi-device access and international usage. The directive, criticized for its weak legal basis and minimal impact on fraud, appears to favor telecom companies.
How a SIM farm like the one found near the UN threatens telecom networks
The US Secret Service has taken down a large network of SIM farms in New York. This happened as world leaders gathered at the United Nations. These farms contained many SIM cards and servers. Officials say the network could have disrupted cellular service. It could have also been used for illegal activities.
RBI acts tough against cyber frauds, directs all banks to use DoT’s FRI technology to protect bank customers
Reserve Bank of India directed banks to use Financial Fraud Risk Indicator (FRI). This technology, developed by Department of Telecommunications, aims to combat cyber fraud. Banks will use FRI to safeguard customers from fraudulent activities including via UPI. The system facilitates real-time responses and continuous feedback. PhonePe, HDFC Bank, ICICI Bank, Punjab National Bank and others are already using it. Read to know more.
No provision for 'digital arrest' worldwide; report cybercrimes at earliest: Experts
Cybercriminals in Uttar Pradesh are posing as officials from CBI and RBI. They deceive victims into transferring money by using digital arrest threats. Financial fraud cases have surged, especially since the pandemic. Authorities emphasize public awareness and caution to combat these scams effectively. Immediate reporting of fraud increases the chances of fund recovery.
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US files lawsuits against call centres, mostly from India, for making fake robocalls to Americans
In each case, the Department of Justice sought an order immediately halting the defendants' transmission of unlawful robocall traffic. A federal court has entered a temporary restraining order against the Global Voicecom defendants.
Budget 2016: Full text of Finance Minister Arun Jaitley's speech
Jaitley presented his third budget which took on the fiscal and physical health of the nation by setting the fiscal deficit target at 3.5% of GDP.
Top five cyber threats in 2008
The cyberspace is teeming with varied threats; here are the top five threats you need to guard against.
Fraudsters take to phishing on phone
While banks and other financial institutions have discovered new methods to beat online frauds, phishers have come up with a way to beat the system.
Fraudsters now phish on phone
In phone phishing, fraudsters typically use a phone call to extract financial information from users.
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