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  • UPI payment apps may soon impose transaction limit: Check Details

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  • India clocks 129 deals at $2.1 bn in Oct; 77% YoY decline in value [details]

    India’s G20 presidency to be decisive, action-oriented







    India clocked 129 deals valued at $2.1 billion in the month of October, a 42 per cent fall in volumes and a significant 77 per cent decline in values as compared to October last year, a report showed on Tuesday.

    When compared to September, the deal volumes witnessed an 11 per cent decline while values decreased by 49 per cent due to the absence of big-ticket transactions, according to Grant Thornton Bharat’s Dealtracker October 2022 report.

    Graph. (File Photo: IANS)Graph. (File Photo: IANS)

    The M&A (merger and acquisition) space recorded 33 deals at $692 million, witnessing a significant downtrend both in terms of deal volumes by 47 per cent and deal values by 79 per cent.

    The start-up sector led the volumes with 27 per cent of the deals driven by the enterprise application segment followed by autotech and edtech segments.

    “In view of inflation, with ongoing improvement in domestic economic activity supported by private consumption growth and expected support from festive season demand, Indian domestic demand showed a relatively healthy growth trend,” said Shanthi Vijetha, Partner, Growth at Grant Thornton Bharat.

    Startup

    IANS

    Owing to this, macroeconomic strength continues to manifest in the form of improving high-frequency consumption and industrial indicators.

    “Considering this, we expect domestic deal activity to continue, if not grow, in the coming months,” Vijetha added.

    Private equity investments recorded $1,448 million across 96 deals. The PE investment trend witnessed a drop, both in terms of deal values and volumes, over October 2021, said the report.

    The year to date (YTD) 2022 recorded 23 initial public offerings (IPO) with an issue size of $8.8 billion, compared to 43 IPO issues raising $23.5 billion in YTD 2021.

    (With inputs from IANS)

  • Hackers create fake websites, steal data around ‘Black Friday’ sales

    Hackers targeting govt officials with tailored clickbaits for phishing attacks







    Threat actors are hosting websites for malicious campaigns centred around the Black Friday theme and e-commerce, cryptocurrency and travel are the top targets, a new report has revealed.

    Researchers found cybercrime forums across various languages are rife with chatter about Black Friday.

    While some actors are promoting their malicious services/campaigns, others are looking to avail them, according to CloudSEK researchers who also discovered an Ethereum giveaway scam website.

    “Compromised personal identifiable information (PII) and banking credentials can be used to perform unauthorised transactions and social engineering attacks,” they warned.

    Hacker

    HackerIANS

    CloudSEK’s contextual AI digital risk platform ‘XVigil’ discovered hundreds of Black Friday-themed domains registered and operational.

    Common forms of attacks included the impersonation of legitimate websites, services for Google/Facebook ads, and the spread of malicious applications.

    “Various elements come into play here, right from hosting a website to gaining critical information of victims by using different techniques. Threat actors are constantly looking for opportunities to siphon crucial data or money,” said Rishika Desai, Cyber Threat Researcher, CloudSEK.

    Black Friday' sales

    ‘Black Friday’ salesIBT Media

    The finding showed that website cloning is a common technique used by hackers of all levels of sophistication to host fake instances of legitimate websites.

    “The iconic Black Friday sale has become a global theme now where cybercriminals at every level and expertise try their best to launch malicious campaigns. Most of these campaigns misuse or impersonate popular brands and companies providing sales and services to cheat the public,” Desai added.

    The researchers advised to be aware of the freebies, attractive deals and seemingly suspicious third-party solutions.

    (With inputs from IANS)

  • Government unveils framework to prevent fake reviews of products

    Green lights 3,000 visas for Indian degree holders; launches UK-India Young Professionals Scheme







    Aiming to guard customers against fake online reviews of products, the government on Monday issued a comprehensive set of guidelines that would come into effect from November 25 and would be voluntary in nature.

    The guidelines titled “Indian Standard (IS) 19000:2022 Online Consumer Reviews – Principles and Requirements for their Collection, Moderation and Publication”, will be applicable to every online platform which publishes consumer reviews.

    These have been finalised by the Bureau of Indian Standards (BIS) and came into being after the Department of Consumer Affairs received a slew of complaints about fake reviews of products being posted by several e-commerce companies on the social media and on web portals.

    online shopping

    BIS will also develop a conformity assessment scheme for the standard within 15 days to assess compliance.

    Secretary, Consumer Affairs, Rohit Kumar Singh told media persons that to begin with, all stakeholders would have to ensure self-regulation.

    However, if it is found that fake reviews are still being circulated, then complaints can be made to the various consumer fora and tribunals, he said.

    Major crackdown on fake product reviews

    Regarding penalising erring entities indulging in fake reviews, the Secretary said that the decision regarding that would be taken by the consumer fora and tribunals, to whom the complaints would be referred.

    He also said that 11 major e-retailers like Zomato, Swiggy, Tata Sons, Reliance Retail, Meta, and Amazon among others took part in the consultations for preparing the guidelines. They were also part of the committee along with the BIS, which formulated the guidelines.

    The guidelines prescribe specific responsibilities for the review author and the review administrator. For review authors, these include confirming acceptance of terms and conditions, providing contact information and for review administrator, these include safeguarding personal information and training of staff.

    E-commerce

    [Representational image]Creative Commons

    Violation of the standards by any entity may be considered as an unfair trade practice or violation of consumer rights and a consumer may submit such grievances to the National Consumer Helpline, Consumer Fora or the CCPA.

    The standard provides for responsibilities of organization including developing a code of practice, and necessary stipulations for terms and conditions like accessibility, criteria, and ensuring content does not contain financial information etc.

    The standard also provides for methods for ‘Verification of Review Author’ through email address, identification by telephone call or SMS, confirming registration by clicking on a link, using captcha system etc. to check traceability and genuineness of the review author.

    With respect to moderation, the standard provides for both automated and manual moderation and provides checks for analysing the review content. As regards to publication, the standard includes considerations for the review administrator at the time of publication process and after the publication process. The accuracy of the review, default display and weightage of ratings are defined in the publication process.

    The guidelines have been prepared by the Bureau of Indian Standards (BIS) on the basis of the report by a committee, which was formed in June this year.

    The committee consisted of stakeholders like Advertising Standards Council of India (ASCI), Confederation of Indian Industry (CII) and the Department of Consumer Affairs.

    (With inputs from IANS)

  • AIIMS ransomware attack: Key patient data at risk of leak, sale on Dark Web

    10 facts about ransomeware







    With the All India Institute of Medical Sciences (AIIMS), New Delhi, still struggling to get its servers up and running after a massive ransomware attack earlier this week, cyber-security researchers on Saturday said the most reported attacks in the healthcare industry, which rose during the pandemic, involve the leak or sale of databases on the Dark Web.

    The exploited databases contain Personally Identifiable Information (PII) of patients and healthcare workers, as well as administrative information such as blood donor records, ambulance records, vaccination records, caregiver records, login credentials, etc.

    “Government agencies involved in the healthcare industry should abide by HIPAA’s (Health Insurance Portability and Accountability Act) compliance requirements, create awareness among users regarding cyber-attacks, online scams, and phishing campaigns, set up policies for secure passwords and enable multi-factor authentication (MFA),” a spokesperson of AI-driven cyber-security firm CloudSEK told IANS.

    AIIMS Delhi

    AIIMS

    The cyber attack on AIIMS shut down its main and back-up servers.

    The attackers hacked the e-hospital service which manages the patient data system, affecting the outpatient department (OPD) and sample collection services.

    Those behind the cyber attack have warned AIIMS to “prepare for a negotiation”.

    Delhi Police are investigating the cyber attack.

    Meanwhile, AIIMS officials said that all affected online patient services are now being run on manual mode.

    According to CloudSEK, a massive spike in cyberattacks on healthcare organisations has been witnessed during the pandemic.

    ransomware cyberattack

    ransomware cyberattackReuters

    “Our research shows that in the first four months of 2022, the number of cyberattacks on the industry rose by 95.34 per cent compared to the same period in 2021. The Indian healthcare sector was the second most targeted when it comes to cyberattacks worldwide,” the company spokesperson said.

    Protecting patients’ medical and financial information has emerged as a new challenge for healthcare organisations.

    According to Indusface, an application security SaaS company, there were more than 1 million cyber attacks of various types across Indusface’s global healthcare clientele.

    Of these, 278,000 attacks were reported in India, highlighting the vulnerabilities of the Indian healthcare sector.

    CloudSEK research revealed recently that immediate challenges to the healthcare sector include phishing and BEC (business email compromise), ransomware attacks, DDoS (Distributed Denial of Service) attacks, insider threats, critical infrastructure and Medjacking’, etc.

    In August this year, the UK’s National Health Service (NHS) was hit by a ransomware attack via a third-party vendor.

    Advanced, which provides several products to NHS hospitals and clinics, said its systems were disrupted by a ransomware attack on August 4.

    FPIs sold healthcare and IT stocks in March

    healthcare

    Three months after the major attack wiped out NHS systems, patients’ records are still missing and safety has been compromised, according to reports.

    The August attack has been the most disruptive cyber-security incident on the health service since WannaCry ransomware attack in May 2017, which disrupted 80 NHS trusts and 603 NHS organisations, including 595 GP practices.

    “Organisations should frequently update and patch networks, systems, and software. Keep several backups, both online and offline, in different and secure places. Keep an eye on logs for any unexpected traffic and activity on websites and other applications,” advised CloudSEK.

    Healthcare experts, including hospital staff, should avoid clicking on suspicious emails, messages and links, it said.

    (With inputs from IANS)

  • Tata Consumer to acquire Bisleri for around Rs 7,000 crore: Report

    Cyrus Mistry dead; What happens to SP Group’s stake in Tata Sons?







    Ramesh Chauhan is divesting Bisleri International to Tata Consumer Products Ltd (TCPL) for an estimated Rs 6,000-7,000 crore, The Economic Times reported.

    The current management will continue for two years as part of the deal. Chauhan, 82, has been in indifferent health in recent times and says he doesn’t have a successor to take Bisleri to the next level of expansion. Daughter Jayanti isn’t too keen on the business, Chauhan said. Bisleri is India’s largest packaged water company.

    Tata ConsumerIANS

    The Tata Group “will nurture and take care of it even better,” although selling Bisleri was still a “painful” decision, Chauhan said.

    “I like the Tata culture of values and integrity and hence made up my mind despite the aggression shown by other interested buyers”, the report said.

    Bisleri water bottles

    Bisleri water bottles.Creative Commons/Madhawie Bansidhar

    Bisleri is said to have had several suitors at different times, including Reliance Retail, Nestle and Danone. Talks with Tata have been going on for two years and he made up his mind after meeting Tata Sons chairman N Chandrasekaran and Tata Consumer CEO Sunil D’Souza a few months back. “I like them. They are good guys,” he told ET.

    Chauhan doesn’t see any point in holding minority stakes after selling the business. “What will I do with it when I am not running the show?” he said.

    (With inputs from IANS)

  • WhatsApp phone numbers of about 500 mn users leaked: Report

    WhatsApp security flaw







    WhatsApp phone numbers of 487 million users have been stolen and put on sale on a “well-known” hacking community forum, the media reported.

    According to Cybernews, the dataset allegedly contains WhatsApp user data from 84 countries and phone numbers of over 32 million users from the US, 11 million from the UK, and 10 million from Russia.

    The hacker claims to have a significant number of phone numbers belonging to the citizens of Egypt (45 million), Italy (35 million), Saudi Arabia (29 million), France (20 million), and Turkey (20 million).

    WhatsApp. (File Photo: IANS)

    WhatsApp. (File Photo: IANS)IANS

    The hacker was selling the US dataset for $7,000, the UK for $2,500, and Germany for $2,000, according to the report.

    Cybernews researchers were able to get in touch with the hacker and also able to collect a sample of the data in which they found out that the shared sample contained 1,097 UK and 817 US user numbers.

    Upon investigation, the researchers found that all of them were active WhatsApp users.

    WhatsApp

    WhatsAppCreative Commons

    However, the hacker did not specify how they obtained the data, suggesting they “used their strategy,” and that all the numbers belong to WhatsApp users, said the report.

    This database can be used by hackers for spamming, phishing attempts, identity theft, and other cybercriminal activities.

    WhatsApp provides numerous privacy settings, such as hiding status and profile pictures, that users can enable to protect themselves from prying eyes.

    (With inputs from IANS)

  • Costly eatables sold at multiplexes, posh restaurants contain operational charges: Govt

    Prices of Diwali firecrackers skyrocket, Sivakasi units anxious







    Stepping into a swanky multiplex or a high-end restaurant or an airport lounge and purchasing eatables can cost you a bomb.

    The Department of Consumer Affairs frequently receives complaints of overcharging, when people complain that they have been charged more than the maximum retail price (MRP) mentioned on a product.

    The Bombay Stock Exchange (BSE) has sought explanation from PVR to a media report of stake buy by Chinese conglomerate Wanda Group. In Picture: Cinema-goers watch a movie trailer at a PVR Multiplex in Mumbai November 10, 2013 (representational image).Reuters file

    However, if you feel that you have been cheated of your hard-earned money into paying a premium for a burger or a bucket of popcorn in a multiplex or at a posh hotel, there is little that any governmental authority can do, as this is something called paying for an ‘ambience’, which basically refers to operational costs, said government sources.

    Not overcharged?

    Since this cost is inbuilt in the displayed price of the item, it cannot be termed as overcharging, sources pointed out.

    In such cases, there is hardly anything that the authorities can do, as additional tax is charged on a simple snack as part of the ambience cost, industry watchers said. In these cases, action is warranted, sources within the department said.

    However, if it comes to paying an extraordinarily high amount for snacks at a multiplex or a high-end restaurant, that is something which is charged by the service provider for the ambience which is being made available to the customer and the cost for providing it.

    Terminal 2 of Bengaluru International Airport

    PM Modi inaugurates terminal 2 of Bengaluru International airportIANS

    “This is inbuilt in the MRP for that particular product, therefore, it is something which is expected in such places. We can only intervene if in case of an over the counter payment, the amount being charged is more than the MRP mentioned on the product (in other words overcharging),” sources in the Consumer Affairs Department said.

    This is evident from the fact that in the past, the government had taken serious note of complaints of bottled water or packaged food items and drinks being sold at prices higher than the MRP.

    The Consumer Affairs Department had earlier said that it keeps receiving complaints of products being sold at a price higher than the MRP.

    There are provisions to prevent charging above the MRP in the Legal Metrology Act 2009, sources said, adding that penalties are imposed on violation of the Act’s provisions by the concerned authorities.

    (With inputs from IANS)

  • Musk reveals Twitter 2.0; says top software aces joining company [details]

    Mass resignations hit Twitter; Musk temporarily shuts offices, not “super worried”







    Elon Musk on Sunday revealed his Twitter 2.0 — The Everything App, saying that the new user signups are at an all-time high and the company is now actively recruiting.

    Musk, who sacked more than half of Twitter’s workforce, said that “world-class software aces are joining Twitter”.

    Sharing some company slides he shared with Twitter employees, the world’s richest man said the next-gen Twitter will focus on advertising as entertainment and video.

    elon musk

    “We’re recruiting. User active minutes are at an all time high and monetizable daily active users (mDAUs) have crossed a quarter-billion mark,” Musk informed.

    “Hate speech impressions are lower, reported impersonation spiked and then fall,” he added.

    After relaunching Twitter ‘Verified’ with Blue badge for $8, Musk will now bring encrypted direct messages (DMs) and long-form tweets on the platform.

    He said that the goal is a “trusted digital town square, where a wide range of views are tolerated, provided people don’t break the law or spam”.

    Elon Musk

    Elon MuskIANS

    “For example, any incitement to violence will result in account suspension,” he stressed.

    Musk earlier said that he had reinstated former US President Donald Trump back on the platform, as Trump did not violate any law and the micro-blogging “platform must be fair to all”.

    Based on a poll, Twitter CEO on November 20 had announced that former US President Trump was allowed to rejoin the micro-blogging platform.

    (With inputs from IANS)

  • 5.4 mn users’ data exposed online as Musk reveals Twitter 2.0; includes phone numbers, email IDs

    5.4 mn users’ data exposed online as Musk reveals Twitter 2.0







    As Elon Musk goes gaga over Twitter 2.0 which will be the ‘Everything App’, at least 5.4 million Twitter user records, stolen via an internal bug, have been leaked online on a hacker forum.

    In addition to the 5.4 million records for sale online, there were an additional 1.4 million Twitter profiles collected using a different Twitter application programming interface (API) that have reportedly been shared privately among a few people.

    The massive data consists of scraped public information as well as private phone numbers and email addresses that are not meant to be public, reports Bleeping Computer.

    Twitter

    A 3D-printed Twitter logo is seen through broken glass, in this picture illustration taken February 8, 2016.REUTERS/Dado Ruvic/Illustration/File Photo

    Twitter 2.0

    The data expose came at a time as Musk revealed his Twitter 2.0 – The Everything App, saying that the new user signups are at an all-time high and the company is now actively recruiting.

    Security expert Chad Loder first broke the news on Twitter and was suspended soon from the platform.

    “I have just received evidence of a massive Twitter data breach affecting millions of Twitter accounts in the EU and the US. I have contacted a sample of the affected accounts and they confirmed that the breached data is accurate. This breach occurred no earlier than 2021,” Loder had posted on Twitter.

    Elon Musk on Joe Rogan experience

    Elon Musk on Joe Rogan experienceYouTube

    The data containing non-public information was stolen using a Twitter API vulnerability fix in January this year.

    This data was collected in December 2021 using a Twitter API vulnerability disclosed in the HackerOne bug bounty programme, the report said on Sunday.

    Most of the data consisted of public information, such as Twitter IDs, names, login names, locations, and verified status.

    It also included private information, such as phone numbers and email addresses.

    Musk or Twitter were yet to comment on the report.

    Pompompurin, the owner of the Breached hacking forum, told BleepingComputer that “they were responsible for exploiting the bug and creating the massive dump of Twitter user records after another threat actor known as ‘Devil’ shared the vulnerability with them,” the report mentioned.

    As hackers released 5.4 million records online, an even larger data dump has allegedly been created using the same vulnerability, according to the report.

    “We were told that it consists of over 17 million records but could not independently confirm this,” said the report.

    (With inputs from IANS)