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Meta Abandons Hacking Victims, Draining Law Enforcement Resources, Officials Say

Wired · 1y ago

Meta Abandons Hacking Victims, Draining Law Enforcement Resources, Officials Say

Forty-one state attorneys general have written a letter to Meta (formerly Facebook) expressing concern over the increasing number of complaints about stolen user accounts on Facebook and Instagram. The attorneys general state that stolen accounts are causing substantial harm, including financial crimes and fraudulent ad purchases. They demand immediate action and proper investment in response and mitigation from Meta to protect user accounts. The letter also highlights the lack of response from Meta and the negative impact on victims, including small business owners. Complaints of stolen accounts have seen a tenfold increase in recent years.

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AI advances risk facilitating cyber crime, top US officials say

Reuters · 1y ago

AI advances risk facilitating cyber crime, top US officials say

Top U.S. law enforcement and intelligence officials have warned that advances in artificial intelligence (AI) could make hacking, scamming, and money laundering more accessible and effective. The ease of using AI to guide hacking operations is enabling less technically capable individuals to carry out cyber intrusions, while AI-generated messages and "deepfake" images could aid in financial scams and money laundering. However, the officials also noted that AI advancements are helping authorities detect and address malicious activities.

Feds hack LockBit, LockBit springs back. Now what?

TechCrunch · 1y ago

Feds hack LockBit, LockBit springs back. Now what?

The LockBit ransomware group, which was recently targeted by law enforcement in a global operation, has returned to the dark web with a new leak site and new victims. The group's administrator admitted fault for the disruption but claimed that operations have now resumed. The law enforcement operation, dubbed "Operation Cronos," compromised LockBit's infrastructure, seized servers and cryptocurrency wallets, and made arrests. Despite law enforcement's claims of a successful takedown, LockBit has already targeted new victims and remains active. The ongoing cat-and-mouse game between law enforcement and ransomware groups means that these criminal operations can quickly regroup and rebrand.

Bengaluru businessman loses Rs 1.98 crore to FedEX scam

IndianStartupNews

IndianStartupNews · 1y ago

Bengaluru businessman loses Rs 1.98 crore to FedEX scam

In Bengaluru, a businessman lost a whopping Rs 1.98 crore in a scam where individuals impersonated FedEx employees and law enforcement officials. The fraudsters would first inform victims about an intercepted package containing illegal substances and then transfer the call to a fake "cybercrime branch" where victims are falsely implicated in money laundering investigations. The rise of such financial scams in Bengaluru is becoming a growing concern, with many falling victim to online job scams as well. To protect oneself, it is essential to verify packages directly on the official FedEx website and avoid sharing sensitive information with strangers.

You are under digital arrest! How fake cop scams draining victims’ bank accounts

Economic Times

Economic Times · 8m ago

You are under digital arrest! How fake cop scams draining victims’ bank accounts

Digital arrest scams are on the rise in India, with scammers posing as officials from law enforcement agencies and coercing victims into paying large sums of money to avoid legal trouble. The scams start with a phone call alerting the victim to a parcel containing illegal substances or accusing them of criminal activity. The scammers then video call the victims, level false charges, and order them to stay at home under 'digital arrest'. The victims are instructed not to contact anyone and are then coerced into making online transfers to the scammers. These scams have led to significant financial losses and highlight the need for stricter regulations and awareness among the public.

The ransomware business is booming, even as enforcers shut down some players

Startup News FYI

Startup News FYI · 1y ago

The ransomware business is booming, even as enforcers shut down some players

In 2023, there was a significant increase in ransomware attacks, despite law enforcement efforts to crack down on attackers. Palo Alto Networks’ Unit 42 reported a 49% rise in victims reported by ransomware leak sites, with the US being the most affected country. The attacks were mainly carried out through the exploitation of zero-day vulnerabilities. Unit 42 identified 25 new ransomware leak sites in 2023, but some have since shut down. Law enforcement successfully disrupted prominent ransomware groups, such as Hive and Ragnar Locker.

After years of losing, it’s finally feds’ turn to troll ransomware group

Arstechnica

Arstechnica · 1y ago

After years of losing, it’s finally feds’ turn to troll ransomware group

International authorities have successfully taken down the infrastructure belonging to Lockbit, a notorious ransomware syndicate that has extorted over $120 million from victims worldwide. This move is considered a significant victory as it reverses the power dynamic between law enforcement and hackers, with authorities gaining control over the sites used by Lockbit to shame victims and pressure them into paying. The seized infrastructure also hosted decryptors for victims to retrieve their data. Authorities have seized 14,000 accounts, 34 servers, frozen 200 cryptocurrency accounts, and made several arrests and indictments linked to Lockbit.

Facebook users are being suspended by hackers with fake Oculus accounts — it sounds crazy, but it's true

Techradar

Techradar · 1y ago

Facebook users are being suspended by hackers with fake Oculus accounts — it sounds crazy, but it's true

Hackers are using a backdoor in Oculus to compromise Facebook accounts, leading to wrongful suspensions for thousands of users. By creating Meta accounts linked to Oculus, the hackers bypass two-factor authentication and gain full access to victims' accounts. This problem has been ongoing since October 2022, with no official action taken by Meta or Oculus. Frustrated users are demanding solutions, and the issue has been reported to media, data protection agencies, and government officials. Content creator Dan Astin-Gregory is calling on Facebook and Meta to address this security breach promptly.

Nithin Kamath sounds alarm over digital arrest frauds in India

Economic Times

Economic Times · 3m ago

Nithin Kamath sounds alarm over digital arrest frauds in India

Zerodha co-founder Nithin Kamath warned about the rise of digital arrest frauds in India, where scammers pose as law enforcement officers to extort money. Victims, often senior citizens, are tricked into thinking they face legal trouble unless they pay up. Scammers use fear and sophisticated tactics, including fake identities and extensive personal information, to deceive their targets, leading to significant financial losses. Kamath advises caution against unknown calls and messages.

Indian-origin Sanjay Wadhwa of SEC to lead probe against Adani Group over bribery indictment: All you need to know | Company Business News

Livemint

Livemint · 7m ago

Indian-origin Sanjay Wadhwa of SEC to lead probe against Adani Group over bribery indictment: All you need to know | Company Business News

Sanjay Wadhwa, an Indian-origin official, is leading the investigation into alleged bribery and fraud involving billionaire industrialist Gautam Adani and other executives of the Adani Group. Wadhwa is the Acting Director of the SEC's Division of Enforcement and has a track record of holding corporate leaders accountable for securities violations. Tejal Shah, also of Indian-origin, is assisting in the investigation. Adani and his nephew are accused of paying bribes to Indian officials and misleading investors. Wadhwa's expertise in securities law enforcement makes him well-suited for the case.

Meta says Iranian group tried to target Trump, Biden officials' WhatsApp accounts

Economic Times

Economic Times · 10m ago

Meta says Iranian group tried to target Trump, Biden officials' WhatsApp accounts

Meta, the parent company of Facebook, Instagram, and WhatsApp, confirmed that it has discovered hacking attempts on WhatsApp accounts belonging to U.S. officials from the Biden and Trump administrations. The attempts were linked to an Iranian hacker group known as APT42, which previously targeted the Trump campaign. The activity involved social engineering on WhatsApp accounts posing as technical support for various companies, such as AOL and Google. Although there is no evidence of compromised accounts, Meta has blocked the suspicious activity. The hackers targeted political, diplomatic, and public figures associated with the Biden and Trump administrations, located in Israel, the Palestinian territories, Iran, the U.S., and the U.K.

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