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Money Mules And The Dark Web: A Growing Threat In India

Inc42 · 1y ago

Money Mules And The Dark Web: A Growing Threat In India

The dark web relies on anonymity and cryptocurrencies like Bitcoin for fraudulent transactions. Criminals use money mules to access and transfer illegal funds, often without their knowledge. To combat this, technologies such as machine learning, social network intelligence, and behavioral biometrics can help detect and stop these illicit transactions from expanding.

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How AI-Equipped Teams Can Save Data Leaks From Becoming The Norm For Global Powers

Inc42 · 1y ago

How AI-Equipped Teams Can Save Data Leaks From Becoming The Norm For Global Powers

A database containing 496.4 GB of unprotected data has been discovered on a dark web-related Telegram group. This highlights the increasing rate of cybercrime globally, with threat actors using more advanced methods. On the other hand, AI can help alleviate this issue by automating threat detection and response, freeing up human analysts to focus on more complex tasks.

Government holds discussion with fintechs on cybersecurity, digital financial fraud

Economic Times

Economic Times · 1y ago

Government holds discussion with fintechs on cybersecurity, digital financial fraud

The Indian government recently held a workshop with fintech companies and law enforcement agencies to foster collaboration and address challenges related to cybersecurity and financial fraud. The workshop discussed the creation of a suspicious registry for banking correspondents and fraudsters, geotagging digital transactions, developing an indigenous anti-money laundering system, conducting regular audits of digital KYC, implementing mechanisms to freeze and unfreeze accounts, and controlling money mules. The workshop aimed to encourage innovation, compliance, and build trust among ecosystem partners. India has seen a significant growth in fintech companies and startups in recent years.

Aadhaar data leak | Personal data of 81.5 crore Indians on sale on dark web: report

Economic Times

Economic Times · 1y ago

Aadhaar data leak | Personal data of 81.5 crore Indians on sale on dark web: report

Details of over 81.5 crore Indian citizens, including Aadhaar and passport details, are reportedly on sale on the dark web. The data breach involves the Indian Council of Medical Research's database, with the compromised information being sold by a threat actor named 'pwn0001'. Cybersecurity firm Resecurity found valid Aadhaar card IDs in a leaked sample and discovered that the threat actor was willing to sell the entire dataset for $80,000. The Central Bureau of Investigation is expected to investigate the incident.

Threat intelligence startup Cyble lands $24M investment

TechCrunch · 2y ago

Threat intelligence startup Cyble lands $24M investment

Cybersecurity startup Cyble raises $24 million in a Series B funding round, co-led by Blackbird Ventures and King River Capital, with participation from other investors. The funds will be used for general R&D and market expansion. Cyble specializes in threat intelligence, monitoring both dark web and surface web data to mitigate digital risks for customers, including government agencies and Fortune 50 brands. The company's groundbreaking tech has garnered global recognition, leading to its success in a challenging cybersecurity funding landscape.

Sensitive user info hawked on dark web post BSNL data breach

Economic Times

Economic Times · 1y ago

Sensitive user info hawked on dark web post BSNL data breach

State-owned telecom operator Bharat Sanchar Nigam Ltd (BSNL) has allegedly suffered a data breach, with a threat actor claiming to have "critical information" about the company's users. The threat actor, using the alias 'Perell', has disclosed a "sample dataset" on a dark web forum containing sensitive details of BSNL's fibre and landline users. The compromised data includes email addresses, billing details, contact numbers, and other sensitive information, posing a significant risk to user privacy and security. BSNL and Cert-In, the cybersecurity watchdog, have been informed about the breach.

At least 20% cybercrimes involve dark web usage by attackers: report

Economic Times

Economic Times · 10m ago

At least 20% cybercrimes involve dark web usage by attackers: report

According to a report by cyber security firm Lisianthus, at least 20% of cybercrimes in India involve the usage of the dark web. Attackers on the dark web engage in activities such as data breaches, hacking, phishing, ransomware, identity theft, and the sale of banned products like drugs and weapons. The study was based on a detailed analysis of cybercrime cases across the country and involved industry experts, cyber security consultants, and law enforcement representatives. The usage of the dark web has increased significantly over the past decade, making it crucial for users to be cautious online.

Airtel India Rejects Report Of Data Breach

Inc42 · 1y ago

Airtel India Rejects Report Of Data Breach

Airtel India denies allegations of a data breach and states that the claims are an attempt to damage their reputation. The denial comes after a user named 'Dark Web Informer' alleged that Airtel India's customer data was breached and being sold on the dark web. The alleged breach reportedly occurred in June 2024 and involved the personal details of 37.5 crore Airtel India customers, including names, phone numbers, addresses, dates of birth, and email addresses. Airtel India asserts that the claims are baseless and unfounded.

India's New Weapon Against Cybercrime in the Dark Web

Business Bytes

Business Bytes · 2y ago

India's New Weapon Against Cybercrime in the Dark Web

India has launched the Cryptocurrency Intelligence and Analysis Tool (CIAT) to combat cybercrime in the dark web. CIAT will monitor the dark net, detect illegal activities, and identify cryptocurrency wallet addresses used in dark net transactions. It will also contribute to strengthening India's cybersecurity efforts and help develop regulations for cryptocurrency use in the country. However, concerns regarding privacy and government overreach must be addressed for a balanced approach to security and individual liberties.

TikTok, Snapchat and others sign pledge to tackle AI-generated child sex abuse images

Economic Times

Economic Times · 1y ago

TikTok, Snapchat and others sign pledge to tackle AI-generated child sex abuse images

Tech companies like TikTok and Snapchat have signed a joint statement to combat child sex abuse images generated by AI. The statement, backed by governments including the US, Germany, and Australia, aims to ensure responsible AI is used to tackle the threat and prevent it from becoming insurmountable. The decision comes in the wake of data from the Internet Watch Foundation, which revealed the sharing of almost 3,000 images of AI-generated child sexual abuse material on a dark web forum.

Digital fraud-hit banks turn to startups to cope with risks

Economic Times

Economic Times · 1y ago

Digital fraud-hit banks turn to startups to cope with risks

Legacy financial institutions in India are turning to data analytics startups for support in strengthening their customer onboarding processes and managing risk. Mumbai-based startup Data Sutram has developed a product called 'DS Authenticator Trust Score' which assesses customer trustworthiness during account opening or credit assessment. The company analyzes data from various sources to assign a trust score. Data Sutram has raised $5.4 million in funding and is supporting institutions such as IndusInd Bank, IDFC First Bank, Union Bank of India, DMI Finance, and IIFL Finance. Other startups, like Bureau Inc, are introducing tools to detect potential money mules during customer onboarding, using device fingerprints and historical data.

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