Top 10 Daily Cybercrime Brief by FCRF [03.08.2024]: Click here to Know More

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. 10% of Citizens’ Stolen Funds from Cyber Fraud Recovered’
In Rajkot, only 10% of the Rs 70 crore lost to cyber frauds in the past 18 months has been recovered. The police, adopting a new approach to freeze only fraudulent funds, refunded Rs 7.23 crore. The cybercrime unit, handling numerous cases, expects more refunds as court orders are issued.

2. India Proposes Cybersecurity and Other Cooperative Efforts to Vietnam
At the 14th India-Vietnam Defense Policy Dialogue, India proposed cooperation in cyber security, military medicine, and submarine search and rescue. Both countries reviewed their defence ties, with Vietnam suggesting five key cooperation areas. They signed a Letter of Intent for training exchanges, and India announced a $300 million credit line for Vietnam’s maritime security.

3. Hamirpur Police Recover Rs 5.34 Lakh from Cyber Fraud
The Hamirpur Police swiftly solved an online fraud case, recovering Rs. 5.34 lakh for Bal Chand Rajput, who was scammed by fraudsters posing as Mumbai DCP. The police’s Cyber Unit froze the transferred funds and, within five days, returned the money to Rajput’s account following a court order.

4. Police Revise Account Freezing Policy in Response to Cyberfraud Cases
Gujarat Police will now freeze only amounts linked to criminal activity instead of entire bank accounts. This policy change, announced by Minister Harsh Sanghavi, aims to reduce the financial burden on individuals. Since implementing the new approach, 28,000 accounts have been unfrozen, improving the fraud recovery rate to 46.42% in 2024.

ALSO READ: SEBI Flags 8,890 Misleading Posts, Mulls Action Against Social Media Influencers

5. New eSIM Scam Defrauds Hyderabad Man of Over Rs 1 Lakh: What It Is and How to Stay Safe
A Hyderabad man lost over Rs 1 lakh to a sophisticated online scam involving an APK file that granted scammers access to his personal information. They activated an eSIM using his phone number, intercepted OTPs, and drained his account. The incident underscores the need for vigilance against cybercrime and following safety measures.

INTERNATIONAL

6. New Partnership Aims to Protect Railways from Cyber Attacks
Cylus and Digi International have partnered to enhance rail cybersecurity by integrating CylusOne with the Digi TX64 5G Rail cellular router. This collaboration aims to improve rail network security, connectivity, and operations globally. The unified solution offers advanced protection against cyber threats with 5G connectivity and comprehensive security features.

7. APT41 Hackers Employ ShadowPad and Cobalt Strike in Taiwanese Institute Cyber Attack
A Taiwanese research institute was breached by Chinese state-linked hackers, APT41, using ShadowPad and Cobalt Strike malware. Discovered by Cisco Talos, the attack involved exploiting outdated software and PowerShell commands for persistent access. The hackers exfiltrated documents and used sophisticated methods to avoid detection, including halting activity upon detection.

ALSO READ: Ministry of Corporate Affairs (MCA) to Deregister 400 Chinese Companies

8. NCSC Launches Advanced Cyber Defense 2.0 to Counter Evolving Threats
The UK’s National Cyber Security Centre (NCSC) plans to launch ACD 2.0, enhancing its Active Cyber Defense initiative with new cybersecurity tools and services. Aiming to address evolving threats, the NCSC will divest successful services to the private sector within three years, partnering with industry and academia for improved cyber resilience.

9. Hackers Directly Email Customers of an immigration firm following a cyberattack.
Sable International, a UK-based immigration services company, suffered a sophisticated cyberattack, exposing some customer data. Hackers, identified as the BianLian ransomware gang, emailed customers, urging them not to interact. The breach forced the company to shut down its servers and website, and authorities have been notified.

10. NWACC Hit by Cyberattack
Northwest Arkansas Community College (NWACC) experienced a ransomware attack when the hacker’s demands printed from campus printers. While no ransom amount was specified, the college refuses to pay and has no evidence of student data being accessed. Systems are partially operational, with some services impacted and student accommodations in place.

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