CYBER CRIME COMPENSATION GUIDELINES
TV actor who played Karna in Mahabharata gets 10 years in jail for killing neighbour over eucalyptus tree dispute
TV actor Bhupendra Singh, who played Karna in Jai Mahabharata, has been sentenced to 10 years in prison by a Bijnor court for killing his neighbour over a dispute involving eucalyptus trees in December 2023. The court also imposed a Rs 1.5 lakh fine and ordered compensation for the victim's family and two injured persons.
SC asks WhatsApp, others to list measures to prevent digital arrest, related cyber crimes
In an order uploaded on the website with regard to the hearing conducted on October 29 in a suo motu case titled 'In Re: Victims of Digital Arrest Related to Forged Documents', a bench headed by Chief Justice of India Surya Kant asked WhatsApp and like intermediaries to simultaneously submit their proposals to the I4C (Indian Cybercrime Coordination Centre).
SBI told to refund Rs 1.59 lakh with 9% interest after 68-year-old who never activated his ATM card lost money through multiple AePS transactions
The Rajkot District Consumer Disputes Redressal Commission has directed SBI to refund Rs 1,59,999 to a 68-year-old customer after unauthorised AePS withdrawals were reported from his savings account. The customer said he had never activated his ATM card or used digital banking. The bank must also pay 9% annual interest and Rs 10,000 towards litigation expenses.
Under attack, banks bolster cyber covers, opt for higher sum assured to protect against hits
For large financial institutions, the biggest impact often is the loss arising from systems remaining unavailable after an attack, rather than the immediate cost of the breach. Besides business interruption, ransomware, data theft, cyber extortion and third-party liabilities are among the key risks.
22-year-old man turns Green Gas meter update into Rs 32 lakh scam; Lucknow resident loses fortune after downloading WhatsApp APK
Lucknow Cyber Crime Police have arrested a 22-year-old man from Dhanbad, Jharkhand, over an alleged fake Green Gas meter update app scam that reportedly caused a loss of Rs 32 lakh. Consumers were targeted through WhatsApp messages asking them to install a fraudulent APK file. Here is how the alleged fraud operated and what police recovered during the arrest.
Cybercrime networks shift to smaller, mobile scam operations amid enforcement pressure: FATF
In its report released from Paris, the global money-laundering watchdog said large, fortified compounds where cyber slaves were forced to commit financial cybercrimes are being moved to apartments, houses, hotels and office floors, sometimes rebranding as legitimate outsourcing or marketing firms.
Cybercrime networks shift to smaller, mobile scam operations amid enforcement pressure: FATF
In its report released from Paris, the global money-laundering watchdog said large, fortified compounds where cyber slaves were forced to commit financial cybercrimes are being moved to apartments, houses, hotels and office floors, sometimes rebranding as legitimate outsourcing or marketing firms.
OpenAI launches GPT-6 Cyber with 'Critical' cybersecurity rating
OpenAI released GPT-6 Cyber, a model built to find and exploit security flaws, to a small group of vetted customers on Thursday, rating it "Critical" in cybersecurity under its safety framework.
Delhi Police files FIR against Meta India over child sexual abuse material on its platforms
In response to directives from the National Human Rights Commission, Delhi Police has launched an FIR against Meta India, concerning the alarming presence of Child Sexual Exploitation and Abuse Material on its platforms. This follows previous summons from the National Commission for Protection of Child Rights. As a proactive measure, Meta India is now coordinating with the Indian Cyber Crime Coordination Centre to report child safety violations.
SBI-led banking alliance comes together to mount a defence to AI threats
Indian Banks' Association, led by State Bank of India, is developing a strategy for cybersecurity in the AI era. The initiative focuses on improving coordination among banks and facilitating timely information sharing. Increasing digitalization has expanded the potential for cyberattacks, urging immediate measures to mitigate risks.
Central cyber security agency warns banks, NBFCs of AI attacks; I4C reveals how hackers are executing multi-crore frauds
I4C has warned banks, NBFCs and fintech firms about AI-powered cyberattacks that enable hackers to execute fraudulent transactions at machine speed. The agency has flagged multi-crore unauthorised fund transfers, urged financial institutions to strengthen API security and directed them to report cyber incidents to CERT-In and RBI within six hours.
ETtech Explainer: Why SIM-binding is a concern for consumers and businesses
A new study raises alarms about the Department of Telecommunications' proposed SIM-binding requirement for messaging applications. The mandate could severely disrupt operations for consumers and businesses alike, especially impacting international travelers who depend on local SIMs or Wi-Fi. Businesses are bracing for heightened costs and difficulties tied to limited device accessibility.
Binance co-CEO says company is in very strong financial health after $6.3 billion heist
Teng told a Hong Kong Fintech Week event Binance's hourly inflows and outflows had "pretty much normalised" and 95% of the affected tokens had been replenished.
'A trite provocation': North Korea denies involvement in $6 billion Binance hack, criticizes FBI probe
North Korea has rejected the claims of its involvement in the recent Binance cryptocurrency theft exceeding USD 6 billion. The FBI had accused North Korean hackers of orchestrating the heist, linking it to previous cyber incidents. Kim Yo Jong noted that the US has a history of making such accusations against North Korea.
Government giving Rs 8,000 as diwali bonus? PIB responds to viral claim
The Press Information Bureau issued a warning about fraudulent WhatsApp messages claiming an Rs 8,000 Diwali bonus. These messages ask recipients to click on links to access a fake payment website. The messages aim to collect personal information and trick users into unauthorized transactions. Citizens are advised to verify such claims through official government websites and not to respond to suspicious messages.
Spandana Sphoorty Financial reports cyberattack involving its bank account
Spandana Sphoorty Financial encountered a cyber fraud incident with unauthorized transactions on November 1. The amount involved was approximately 78 million rupees, which was transferred to multiple beneficiary accounts. Upon detection, the company promptly stopped affected services and notified its bank. A request for reversal and account freezing was also made to the bank. Additionally, Spandana registered a complaint with the National Cyber Crime Reporting Portal.
Andhra landowners sought 20x compensation after price boom, but lost case in High Court for this reason
The Andhra Pradesh High Court rejected the landowners’ request for enhanced compensation by noting that the landowners relied on market values from 2010 despite the government acquiring lands in 2008. The landowners claimed their compensation was inadequate due to significant market price increases occurring later. The high court emphasized compensation should be based on the market value at the time of acquisition.
SC cracks down on banks, seeks mandatory payouts to cyber fraud victims
The Supreme Court has questioned the Reserve Bank of India's effectiveness in preventing digital fraud. Financial institutions must be held accountable for their role in cybercrime under new regulations. A mandatory liability clause is essential to ensure victims are compensated for losses. The court emphasizes that banks should enhance preventive measures against unusual transactions. The Attorney General mentioned that the RBI is working on regulations to address these issues.
SC calls for compensation to digital fraud victims if banks fail due diligence
The Supreme Court has highlighted banks' accountability regarding digital fraud, asserting that victims deserve compensation for losses due to banks' lack of diligence. It called for enhanced preventive measures to spot suspicious transactions. Attorney General R Venkataramani remarked on a significant decrease in reported digital scams this year, but the court maintained that financial losses from cybercrime remain a pressing concern for the public.
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