Top 10 Daily Cybercrime Brief by FCRF [28.05.2024]: 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. NIA Uncovers International Job Scam, Arrests 5 for Entrapping Indians in Cyber Fraud Centers
The NIA arrested five individuals in a multi-state crackdown on a trafficking syndicate luring Indian youths with false job promises in Cambodia, Laos, and Golden Triangle SEZ. The youths were forced into cyber fraud activities. Raids were conducted across Maharashtra, UP, Bihar, Gujarat, Delhi, Haryana, Punjab, and Chandigarh.

2. Allahabad HC Criticizes Ineffective Cyber Crime Investigations, Urges Systemic Reforms
The Allahabad High Court criticized poor cyber crime investigations while denying bail to Mange @ Ravindra in a rape case involving a video recording. The court emphasized systemic inadequacies in investigating cyber crimes and ordered an expedited trial, instructing strict measures against non-cooperative witnesses and immediate execution of warrants.

3. Government Orders Telcos to Block International Spoofed Calls to Curb Cyber Crime
The Indian government has directed telecom providers to block incoming international spoofed calls displaying Indian numbers to curb cyber crime. The Department of Telecommunications flagged 6.80 lakh potentially fraudulent mobile connections for re-verification and directed the blocking of 28,200 handsets linked to cyber crimes, requiring re-verification of 20 lakh associated numbers.

4. Indian Navy Commander Defrauded of Rs 78 Lakh in Mumbai Cyber Scam
A 36-year-old navy commander from Mumbai lost Rs 77.53 lakh to a cyber scam promising a 600% return on investment via an Instagram post. He was enticed into investing through a fraudulent app, “Provex,” and was further duped into paying additional funds before realizing the scam with a friend’s help.

ALSO READ: New ATM Malware Threatens to Wipe Out European Banks – Are Your Savings Safe?

5. The government targets SMS scammers and Main the main offenders.
The government blacklisted entities behind SMS headers used for over 10,000 fraudulent messages in three months. The crackdown, part of the Sanchar Saathi initiative by DoT and MHA, targeted eight SMS headers and associated templates to prevent further cybercrime. Citizens can report suspected fraud via the Chakshu facility.

6. Massive Cyber Attack Disrupts Eritrea’s Internet System
A massive cyber attack targeted Eritrea’s internet system but was promptly thwarted, ensuring uninterrupted network function. The Eritrean government claims to know the perpetrators and plans to reveal their identities later.

7. Cyberattacks on DeFi Protocols Result in $25 Million Loss
In mid-May, over $25 million in cryptocurrency was stolen from DeFi protocols Sonne Finance, ALEX Lab, and BlockTower. Sonne Finance suffered the largest loss, $20 million, due to a bug. ALEX Lab’s $4.3 million loss likely involved a compromised private key. BlockTower lost $1.5 million. DeFi security concerns remain high.

8. Thailand to Establish Cyber Command Center in October
Thailand’s Ministry of Defense plans to establish a Cyber Command Center in October to address modern cyber-threats. Led by Gen. Songwit Noonphakdi, the initiative aims to enhance digital security with support from various armed forces segments. Restructuring efforts include transferring cyber centers and training hundreds of skilled personnel annually.

9. Medical Device Manufacturer Hit by Ransomware Attack
LivaNova, a UK medical device manufacturer, experienced a cybersecurity incident compromising personal data of current and former employees. The company swiftly responded by shutting down systems and providing identity protection and credit monitoring services for two years. The attack was attributed to the LockBit ransomware group, which claimed responsibility and threatened data release.

ALSO READ: Top Ten Corporate Frauds in India That Cost Banks, Public and Investors Billions

10. Major US Drug Distributor Breached, Compromising Health Information
US drug distributor Cencora, partnering with major pharmaceutical companies like Bayer, suffered a data breach compromising sensitive client health information. The breach occurred , with undisclosed numbers affected. Cencora offers affected individuals free credit monitoring and identity theft protection for 24 months, denying public data disclosure evidence.

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