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News on Medial
AI voice fraud scam: Cyberthug dupes Lucknow man of Rs 45,000
Economic Times
·
1y ago
Medial
In a case of voice fraud, a man from Lucknow lost Rs 45,000 after being tricked by a cybercriminal who used artificial intelligence (AI) to impersonate his relative's voice. This is the first reported fraud case that involves the use of AI in Lucknow. The victim received a call from an unknown number claiming to be his uncle and convinced him to transfer the money. However, the victim later realized that the money was not actually transferred, as he received an SMS stating multiple credits to his account that never occurred. The police have registered a case and are investigating the matter.
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Related News
HIBOX App Scam Busted: Man Held For Defrauding 30K People
Inc42
·
10m ago
Medial
- Delhi Police arrest 30-year-old man in a case involving a suspected INR 500 Cr fraud - Suspect allegedly deceived over 30,000 people through an investment scam using HIBOX mobile app - Social media influencers and YouTubers recruited by the suspect to promote the fraudulent investment are under investigation - RBI's recent annual report shows a 334% YoY increase in online fraud cases involving cards and the internet in India - The suspect is accused of luring victims into investing money in the scam, resulting in significant financial losses for the victims.
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Phishing you a Happy Diwali: AI advancements pave the way for cybercriminals
Economic Times
·
10m ago
Medial
- Cyberattacks and frauds are increasing during the festive season in India. - AI-enabled technology, including deepfakes, is making it harder to spot scams and social engineering attempts. - AI-powered fraud can lead to the theft of personal and financial information. - Web scraping activities, fake reviews, and fraudulent travel and accommodation sites are common during the festive season. - AI facilitates automated and scalable scam operations, voice scams, and adaptive tactics. - Users should exercise caution during the festive season, be wary of phishing attempts, and avoid sharing personal information or making payments on suspicious websites.
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WhatsApp fraud: 75-year-old man scammed of ₹11.1 cr - here's what happened
Livemint
·
8m ago
Medial
A retired 75-year-old man from Mumbai has fallen victim to a scam, losing a whopping ₹11.1 crore. The scam started with the victim being added to a WhatsApp group posing as a legitimate financial services company. The scammers lured him with promises of profitable investments in the stock market, eventually convincing him to download a fake trading app. Over the course of several weeks, the victim made multiple transactions, transferring funds into different bank accounts provided by the scammers. The fraud serves as a warning to be cautious when dealing with unfamiliar groups or apps offering quick financial gains.
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Counterfeit Cisco gear ended up in US military bases, used in combat operations
Arstechnica
·
1y ago
Medial
A Florida man, Onur Aksoy, has been sentenced to 78 months in prison for running a counterfeit scam that generated $100 million in revenue. He pleaded guilty to charges of trafficking in counterfeit goods, mail fraud, and wire fraud. Aksoy operated a scheme that involved selling fake computer networking devices, obtained from China and Hong Kong, through various online platforms. The devices, including counterfeit Cisco products, were purchased by the US military and put sensitive applications at risk. Aksoy has been ordered to pay $100 million in restitution to Cisco and additional fines.
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'Prevented scams of Rs 12,000 cr via UPI...': GPay VP Ambarish Kenghe on fraud Detection Mechanism
Economic Times
·
1y ago
Medial
Google Pay Vice President, Ambarish Kenghe, announced during the Google for India Event 2023 that their fraud detection mechanism has prevented a potential scam of Rs 12,000 crore in the year 2023. Using AI and machine learning, Google Pay is able to identify and warn customers of potential scams, and even block payments if necessary. Through this technology, they have successfully saved around Rs 12,000 crore that could have been lost to scams.
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Google's AI system will now help you detect and block online scams
YourStory
·
2m ago
Medial
Google has enhanced its use of artificial intelligence (AI) to combat online scams across its platforms, including Search, Chrome, and Android. The AI systems, now blocking millions of scam-related webpages daily, are part of Google's broader strategy to reduce deceptive websites' visibility. Chrome uses on-device AI to identify scam-like behavior, enhancing real-time fraud prevention. Additionally, Google's AI tools in Android apps and the regional DigiKavach program in India aim to preemptively detect and block financial scams.
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Bengaluru police bust Rs 854 crore cyber fraud; know the details
IndianStartupNews
·
1y ago
Medial
The Bengaluru Police have arrested six individuals involved in a cyber fraud scam worth Rs 854 crore. The fraudsters deceived victims across India by promising high daily profits on small investments through WhatsApp and Telegram. They collected the funds in various bank accounts and laundered the money through online payment modes, including cryptocurrencies. This case highlights the rising concern of cyber fraud in India, with financial fraud accounting for over 75% of cyber crimes in the country.
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How voice deepfakes are emerging as a new threat
Economic Times
·
1y ago
Medial
Voice clones or deepfakes, created using generative AI tools, are becoming a concerning tool for cyber scammers. AI-related scams using voice deepfaking have been reported across India, with websites offering free voice cloning options in multiple languages. These clones can be used for malicious purposes, such as phishing or fraud. While some AI service providers are offering tools to identify cloned audio, experts believe that awareness, skepticism, and security best practices are necessary to prevent falling victim to voice AI scams.
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Meta, Australian banks tout progress on taking down 'celeb bait' scam ads
Economic Times
·
10m ago
Medial
1. Meta has taken down around 8,000 celebrity bait scam ads from Facebook and Instagram in collaboration with Australian banks. 2. The scams use AI-generated images of famous people to deceive consumers into investing in fictitious schemes. 3. The Australian government plans to introduce an anti-scam law which could impose fines of up to A$50 million on social media companies like Meta. 4. In 2023, Australian scam reports increased by nearly one-fifth, resulting in losses of A$2.7 billion. 5. Meta is facing a lawsuit in Australia for allegedly failing to prevent the dissemination of cryptocurrency advertisements featuring celebrities. 6. Meta is working with Australian banks to identify signs of fraud and scams within ads, while their stance on the proposed anti-scam law is still under consideration.
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Voice-first AI tutor Stimuler raises $3.75 million from Lightspeed, SWC Global
Economic Times
·
3m ago
Medial
Stimuler, an AI voice-first tutor for ESL users, secured $3.75 million in funding from Lightspeed and SWC Global. The Bengaluru-based startup, established in 2022, plans to enhance its AI infrastructure and expand its user base. Operating in markets like Latin America, Southeast Asia, and India, Stimuler has 4 million app installs and 45,000 paying users. With aims to increase monetization significantly, the company focuses on building its core team and AI capabilities.
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