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Roku says more than 500,000 accounts impacted in cyberattack

Economic TimesEconomic Times ยท 1y ago
Roku says more than 500,000 accounts impacted in cyberattack
Medial

Roku has announced a second cyberattack, affecting an additional 576,000 accounts, in its investigation following a breach that impacted 15,000 user accounts earlier this year. The company assured customers that no sensitive information was compromised, including credit card numbers. However, less than 400 cases involved unauthorized purchases of streaming service subscriptions and hardware products using stored payment information. Roku plans to refund or reverse charges for affected accounts and has introduced two-factor authentication to enhance security measures. The company believes the unauthorized access was due to credential stuffing, emphasizing the importance of using unique credentials across different platforms.

Ecommerce enabler GoKwik says proliferation of fake orders rising online

Economic TimesEconomic Times ยท 1y ago
Ecommerce enabler GoKwik says proliferation of fake orders rising online
Medial

Ecommerce enabler GoKwik has reported an increase in the number of fake orders placed on ecommerce platforms, which is impacting the cost of operations for companies. They have observed that 2-10% of total orders, and in some cases even up to 15-20%, are fraudulent. However, GoKwik's return to origin risk intelligence and fraud prevention mechanisms have enabled them to intervene and protect merchants. The company is concerned that the actual number of affected brands in the overall ecosystem beyond their network will be significantly higher. GoKwik offers solutions to predict customer behavior and prevent undelivered orders, known as return to origin (RTO), which can cause logistical and financial challenges for ecommerce brands. Through their network intelligence, they are able to detect 80% of all fake orders and are continuously implementing measures to enhance fraud prevention.

ED raids 8 locations linked to FIITJEE over centre closures

EntrackrEntrackr ยท 4m ago
ED raids 8 locations linked to FIITJEE over centre closures
Medial

The Enforcement Directorate (ED) reportedly launched a money laundering probe against premier coaching institute FIITJEE, conducting raids at eight locations across Delhi-NCR. The searches were carried out under the Prevention of Money Laundering Act (PMLA) and are linked to multiple FIRs registered by the Economic Offences Wings (EOW) of Delhi and Noida Police. The probe was initiated following complaints from parents, who claimed that FIITJEE unexpectedly closed multiple centres without any prior intimation, disrupting studentsโ€™ education and withholding refunds. According to a report by Mint, ED officials searched FIITJEEโ€™s offices as well as properties associated with its promoter and Managing Director, Dinesh Kumar Goel. The Delhi Police has already booked Goel and the company under IPC sections related to cheating, criminal conspiracy, and breach of trust. The report added that Dinesh Goyalโ€™s PAN was linked to 172 current accounts and 12 savings accounts. In February, the Noida Police froze Rs 11.11 crore across 12 bank accounts associated with the FIITJEE founder. Founded in 1992, FIITJEE has been a key player in Indiaโ€™s IIT-JEE coaching space, operating over 70 centres nationwide. However, recent developments have cast a shadow over its reputation. Several complaints also cite exaggerated marketing claims and failure to honour refund policies, according to The New Indian Express. Parents and students have been staging protests across closed centres, demanding accountability. โ€œWe invested lakhs based on trust and were completely blindsided,โ€ said a parent outside FIITJEEโ€™s east Delhi office. While FIITJEE is yet to release an official statement, the incident has sparked fresh debate around the regulation of Indiaโ€™s booming private coaching industry. The EDโ€™s investigation is ongoing.

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