CYBER FRAUDS
US cyber crimes: Overseas scammers are swiping billions from Americans every year, and getting away with it
Scammers are stealing billions from Americans yearly, exploiting technology and targeting older adults. Sophisticated fraud schemes overwhelm law enforcement and rarely lead to prosecution. With elder fraud complaints rising, experts call for coordinated efforts from private industries and the government to combat this escalating crime wave effectively.
Banks in a bind over Trai mandate on digital consent
Banks are grappling with new regulations from the Telecom Regulatory Authority of India (Trai) requiring digital consent for commercial communication. This has prompted lenders to seek government clarity on whether consent is needed for sharing transaction details, as per Reserve Bank of India guidelines. The move aims to combat cyber fraud, with banks also requesting special prefixes for customer calls following last month's finance ministry directive.
Indonesia arrests over 100 Taiwanese for alleged cyber fraud
Indonesian police have arrested more than 100 Taiwanese at a villa in Bali over alleged cyber fraud, authorities said Friday. In 2018, Bali Police arrested 103 Chinese nationals, along with 11 Indonesians allegedly working for them, for running a multi-million-dollar cyber fraud syndicate that targeted wealthy businessmen and politicians in China.
Truecaller, HDFC ERGO tie up for insurance product to safeguard subscribers from digital frauds
Caller identification app Truecaller on Thursday said it has collaborated with general insurance company HDFC ERGO for an offering that aims to safeguard subscribers against digital communication frauds in India. Truecaller in a release said that amid rising cases of cyber fraud, the insurance offering underscores its commitment to combating fraud and ensuring user protection through advanced app features - before, during and after mobile communication.
Beware... 800 online financial frauds a day
Furthermore, if all the cases from the National Cyber Crime Reporting Portal are included, the surge is even higher. Many frauds reported on the portal are not recorded as banking frauds because the money is transferred voluntarily to a third party masquerading as a merchant or service provider.
Unemployed youth enticed to rent bank accounts for quick money; Goa Police uncovers fraud
Goa police have uncovered a worrying trend of youths renting out their bank accounts to cyber fraudsters. This has led to an increase in cybercrimes targeting unsuspecting citizens. Many unemployed youths are enticed to rent their accounts in exchange for quick money. The fraudsters then use these accounts to execute their schemes.
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NIA charge sheet against 5 persons for trafficking Indian youths, coercing them into online fraud work
According to NIA investigations, the accused targeted Indian youths proficient in computers and English language, and coerced them into working in fraudulent call centres on tourist visa for pecuniary gains. The victims were being recruited, transported and transferred from India to the Golden Triangle SEZ in Lao PDR via Thailand, the NIA said.
Noida man scammed of Rs 20.54 lakh, alleges death threat
A man from Greater Noida, Sandeep Kumar, was scammed of Rs 20.54 lakh in a work-from-home job scam involving rating hotels on Google Maps. An FIR was filed against an unidentified persons under IPC sections 420 and 506, along with IT Act provisions. Kumar fell victim to a scheme where he invested money but couldn't withdraw it, facing death threats when questioning the fraudsters.
Major cyber fraud prevented in Lucknow, would have been one of the biggest cases in UP's history
The story started with fraudsters opening another account in AKTU's name in the same bank where it already had an account. Then, bank officials were fooled via an elaborate ploy to transfer a huge amount fo the fake a/c. It eventually took an audit to uncover the scam.
Nashik man involved in global racket forcing youths into cyber fraud, honey trapping held
The National Investigation Agency (NIA) arrested Sudarshan Darade in Nashik, Maharashtra, for his alleged involvement in an international human trafficking syndicate coercing youths into online criminal activities like credit card fraud and honey trapping. Darade is the sixth person arrested in the case, which involves trafficking Indian youths to work in fake call centers in Laos and Cambodia.
Bombay High Court orders Bank of Baroda to refund Rs 76 lakh in cyber fraud case
The Bombay High Court ordered Bank of Baroda to refund Rs 76 lakh to a company due to online fraud. The ruling emphasized the importance of customers reporting fraudulent transactions promptly, following RBI guidelines. The court criticized the banking ombudsman for not properly investigating the case.
Unauthorised transaction due to third party breach: Bank customer has zero liability, says HC
The Bombay High Court ruled that customers have zero liability for unauthorized transactions caused by third-party breaches, directing Bank of Baroda to refund Rs 76 lakh to Pharma Search Ayurveda Private Limited. The court cited a 2017 RBI circular and the bank’s Consumer Protection Policy, highlighting that the deficiency lay not with the bank or the customer. The petitioners reported the fraud immediately, but the bank ombudsman initially rejected their claim. The court found no negligence by the petitioners and ordered the refund within six weeks.
New UPI scam: Fraudsters send you 'Rs 200.00' and ask to return Rs 20,000; how to protect yourself from UPI overpayment scam
UPI overpayment scam: You should be careful before sending or accepting any UPI collect money request especiallly from unknown numbers or IDs. This is because scamsters have now become more sophisticated and specifically targetting various tricks to make sure you stay distracted enough to not notice the scam. Read here how a individual got saved from this scam and what you can do.
The man who escaped the scam rings of Cambodia
Thousands of workers are trafficked to Southeast Asia to commit cyber fraud on their fellow citizens over social media. Ex-serviceman Botcha Sankhar, who was forced to work in the scam compounds of Cambodia for six months, unravels the modus operandi of this new and terrifying form of crime and forced labour
DoT take down over 1000 SMS content templates to protect citizens from potential fraud
DoT, with support from MHA, cracked down on spam calls by blacklisting 73 SMS headers and 1,522 content templates to prevent SMS fraud, as reported by ToI.
More cyber fraud cases getting detected in India due to enhanced vigil, says Amit Shah
Union Home Minister Amit Shah reported 27 lakh cyber fraud complaints in the past year, highlighting increased detection due to enhanced vigilance. He noted that 99.5% of police stations are now connected to the Crime and Criminal Tracking Network and Systems (CCTNS), aiding investigations and citizen services. The I4C tackles these rising cyber crimes.
Govt blacklists 8 principal entities in fresh strike down on SMS scammers
The Department of Telecommunications (DoT), in collaboration with the Ministry of Home Affairs (MHA), has taken this decisive action to protect citizens from potential SMS fraud through the Sanchar Saathi initiative, the government said in a statement Monday.
Mumbai man loses Rs 1.07 crore in trading scam; Here's how Indians lost Rs 1,750 cr in just four months
A 48-year-old man from Navi Mumbai lost Rs 1.07 crore in a share trading scam, highlighting a broader surge in cybercrime in India. The Indian Cybercrime Coordination Centre (I4C) reported 20,043 trading scam cases amounting to Rs 14,204.83 crore between January and April 2024. Fraudsters often use call spoofing and impersonate officials to deceive victims. The government has responded by freezing bank accounts and blocking SIM cards to protect potential victims.
Mobile users can expect relief from 'spoof international calls'
Hoax international calls originate outside the country, but cyber criminals manipulate the calling line identity (CLI) to make such calls appear as originating within India. The DoT has directed telecom carriers to block such calls. DoT noted that fraudsters are making international spoofed calls displaying Indian mobile numbers to Indian citizens and committing cyber-crime and financial fraud.
Indians lost over ₹1,750 crore to cyber fraud in first four months of 2024
According to Indian Cyber Crime Coordination Centre (I4C), on an average 7,000 cybercrime complaints were registered per day in May 2024, a jump of 113.7% between 2021-2023 and 60.9% from 2022-2023, and 85%of them were financial online frauds.
Govt directs telcos to block incoming international spoofed calls
The government directed telecom operators to block incoming international spoofed calls displaying Indian mobile numbers to prevent cyber-crime and financial frauds by fraudsters and cyber-criminals.
DoT, telcos develop new mechanism to block spoof overseas calls masquerading as Indian numbers
The Department of Telecommunications (DoT) and mobile operators have developed a system to detect and block spoofed international calls that appear as Indian numbers. This measure aims to protect millions of mobile users from cyber criminals. These spoofed calls, manipulated to look like domestic calls, originate from abroad. The DoT has instructed telecom carriers to block such calls to prevent cybercrime and financial fraud.
90,000 scams in 4 months: How Southeast Asia is becoming the next Jamtara; Fraudsters recruiting from Andhra, TN, Odisha
India faces a surge in cyber fraud from Southeast Asia, surpassing domestic hotspots. Nearly half of the defrauded money comes from scams such as investment, trading, digital arrest, and dating scams. Between January and April 2024, Rs 1,775 cr was lost to these scams. Organized crime networks employ Indians through illegal recruiters, with suspected Chinese involvement in these operations.
Govt working to block international spoof calls duping Indians
The Indian Cyber Crime Coordination Centre (I4C) and the Department of Telecom (DoT) are collaborating to block spoof calls originating from outside India, particularly those claiming digital arrests by agencies like the NCB or CBI. They are also partnering with Microsoft to curb the misuse of logos of Indian enforcement agencies by scamsters. Many cases involve callers impersonating law enforcement personnel to extort money, with thousands of Skype IDs created for this purpose.
How bankers are helping cybercriminals siphon your money
13 bankers, including a former Yes Bank deputy manager, were arrested for aiding cybercriminals by providing access to bank accounts for online frauds. The manager, Shaikh, opened accounts without following KYC norms. ACP Priyanshu Dewan commented on the case.
Band ho Jaa SIM SIM: Govt targets cyber thieves
On May 9, the Department of Telecommunications (DoT) had asked telcos to disconnect 28,220 mobile handsets and re-verify over two million mobile connections misused with these handsets.
Stock market fraud: How a Delhi woman lost over Rs 23 lakh chasing good returns
Mohammad Daud, arrested by Northeast cyber police station, duped a woman of Rs 23.5 lakh through a stock market website. Recovered items: 17 SIM cards, 11 debit cards, four passbooks, phone, stamps, and Rs 8.55 lakh.
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