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Top 10 Daily Cybercrime Brief by FCRF [07.06.2024]: Click here to Know More | #cybercrime | #infosec


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. Ranebennur Resident Falls Victim to Rs 58L Online Fraud
A 35-year-old from Ranebennur, Haveri, lost Rs 58.8 lakh in a share trading online scam. Fake IAMBIN group members lured him, promising profits. The victim transferred funds to multiple accounts controlled by fraudsters. Haveri Cyber Economic and Narcotics Crime police are investigating the case after filing an FIR.

2. Two Arrested in Navi Mumbai for Involvement in Rs 3.7 Cr Stock Market Swindle
Two arrested in Navi Mumbai for defrauding over Rs 3.70 crore in online share market scam. Salman Nizamuddin Khan and Prakash Karamsi Bhanushali involved in multiple fraud cases, including obtaining money by fabricating bank accounts and documents. Police freeze Rs 46 lakh of illicit funds. Accused of crimes linked to other states.


3. RBI Establishes Committee to Monitor Online Payment Frauds; AP Hota Appointed as Head
The RBI has established a committee, chaired by Abhaya Hota and including key industry figures, to develop a digital platform for combating digital payment frauds. The panel will define operational parameters, identify fraudulent transactions, and ensure data security. This comes as fraud cases surge, highlighting the need for advanced fraud mitigation measures.

4. Maharashtra Cyber Police Prevent Rs 116.63 Crores in Cyber Fraud Losses Over Three Years via Helpline
The RBI formed a committee led by Abhaya Hota to create a digital platform addressing payment frauds, involving key industry leaders. The panel will set operational standards, identify fraud, and ensure data security amid a surge in fraud cases, emphasizing the need for enhanced fraud prevention strategies.

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5. Two Individuals Lose Rs 86 Lakh in Investment Scam
An estate broker, Rudresh Raval, and his friend lost Rs 86 lakh in a stock market investment fraud via a mobile app. Directed by criminals in Malaysia and China, they were tricked into depositing money through SAXO BANK. Unable to log in later, Raval reported the scam to the cyber crime police.

INTERNATIONAL

6. Cybersecurity Concerns Loom Over Paris 2024 Olympics
With the 2024 Paris Olympics approaching, security firms warn of increased cyber threats from espionage groups, especially Russian actors. Potential attacks include DDoS, malware, disinformation, and ticket scams. Google advises updating threat profiles and increasing awareness to protect against these disruptions targeting high-profile events and attendees.

7. FBI Recovers 7,000 Decryption Keys, Offering Hope to LockBit Ransomware Victims
The FBI has disrupted LockBit, obtaining over 7,000 decryption keys to help victims reclaim data. LockBit, led by Dimitri Khoroshev, used a ransomware-as-a-service model, causing billions in damages globally. Khoroshev faces severe penalties if caught. Authorities have significantly compromised LockBit’s operations, seizing critical infrastructure and cryptocurrency accounts.

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8. Cyber Attack Erases Financial Data from US Eye Clinics, Impacting Over 300,000 Patients
Panorama Eyecare detected unauthorized network access from May 22 to June 4, 2023, impacting 377,911 individuals. stolen data included financial account details and passwords. Though no misuse has been reported, the company offers 12 months of free credit monitoring. LockBit gang, linked to Russia, claimed responsibility for the breach.

9. Google Identifies Russian Cyber Operations as Primary Threat to Olympics
Russian threat groups, particularly Sandworm, pose significant cyber threats to the Paris Olympics, targeting past Games and leveraging tactics like credential phishing and malware distribution. Pro-Russian information operations are expected, fueled by political tensions. France accused Russia of disinformation campaigns, while hacktivist groups and the “Doppelganger” campaign amplify the threat.

10. Op-Ed: Patties Foods’ Data Leak Highlights the Need for Improved Cyber Incident Reporting
Patties Foods faced data exposure, not breach, due to a third-party vulnerability. Cybersecurity analyst Fowler flagged the issue, prompting investigations. Media reports exaggerated, implying a breach despite denials from Patties Foods and Provenio.ai. Misleading headlines risk damaging brand reputation, highlighting the importance of accurate reporting in cybersecurity incidents.

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