Top 10 Daily Cybercrime Reviews by Future Crime Investigators (10.05.2024): Bitcoin Fraud, Biden Signs REPORT Act, Cyberattack on Hospitals and More

Tech company executives arrested over Bitcoin fraud charges
Odisha’s Crime Branch Cyber ​​Crime Unit arrested Sumit Kumar Das, Amiya Ranjan Satpathy and Sidharth Satpathy for running a cryptocurrency investment scam through PayInc and Fynpe. Victims were lured through WhatsApp and Telegram and deposited more than Rs 54.75 lakh. National complaints against the suspects indicate an increase in such fraudulent schemes.

Retired engineer from Karnataka, cheated of Rs 1.6 Crore by cyber fraudsters
Fraudsters in Mangaluru have duped a retired engineer of Rs 1.6 crore by posing as an employee of the international courier service. They claimed his package contained incriminating items and demanded “warning money” to avoid an investigation. The victim paid, but the scam came to light when he confided in his daughter. The police is investigating the case.

Malappuram police seize 40,000 SIM cards and 180 phones in cyber fraud
The cybercrime unit of Malappuram police has seized 40,000 SIM cards, 180 phones and biometric readers from Abdul Roshan, a prime suspect in an online scam. He allegedly used them to orchestrate cyber fraud, collecting fingerprints to activate SIM cards. Research shows that several people are involved nationally.

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Arjun Bijlani becomes a victim of cyber fraud: credit card compromised
Cyber ​​fraud is on the rise worldwide, with TV celebrities like Arjun Bijlani falling victim. Bijlani’s credit card was hacked, prompting him to alert fans on social media. Although the amount lost is not disclosed, he urged caution and expressed confidence in cybercrime authorities to arrest the perpetrators.

Cyber ​​fraudsters from West Bengal nabbed in Rs 44.45 Lakh scam
The Cyber ​​Cell of Delhi Police arrests two persons from West Bengal involved in a complex fraud scheme worth Rs 44,45,436. Rakesh Kumar Shaw and Rashid Khan were discovered through 113 complaints on the National Cyber ​​Crime Reporting Portal and were arrested after a thorough technical and financial investigation, which revealed over Rs 4 crore worth of fraudulent transactions.

INTERNATIONAL

AI and online gaming are among the threats to children
A study by the DQ Institute shows that 70% of children will be exposed to cyber threats in 2023. Kaspersky’s David Emm highlights the top online risks: children’s bank cards, smart home devices, AI exposure, online gaming and trendy apps. Parents are urged to stay informed, monitor children’s online activities and educate them on cybersecurity measures, including avoiding sharing personal information and clicking on random links.

READ ALSO: Join the Future Crime Research Foundation webinar on ‘AML (Money Laundering), CFT (Terror Financing) & Regulatory Compliances’.

The Israeli economy suffers billions in losses due to cyber attacks
Israel’s National Cyber ​​Directorate reports an annual economic loss of $3.3 billion due to cyber attacks. Investing in basic protection measures could reduce the risk of attacks by 30 to 50%. The analysis includes short-term response costs, direct financial losses and medium-term consequences such as reputational damage. The chief economist urges policy decisions and national investments in cybersecurity.

Biden signs Blackburn’s bipartisan bill to modernize reporting of cybercrimes against children
President Biden signs the bipartisan REPORT Act, sponsored by Senators Blackburn and Ossoff, aimed at improving reporting on online child exploitation by tech companies. The law requires reporting of crimes against children, increases penalties for non-compliance and extends the duration of evidence retention, supported by several child protection organizations.

UK Ministry of Defense data breach: Armed Forces personal data accessed via hack
The British Ministry of Defence’s payroll system, which contains personal details of armed forces personnel, has been hacked. It contains names, bank details and some addresses. The Ministry of Defense has taken it offline and is investigating the breach. Defense Secretary Grant Shapps will address Parliament amid concerns about rising cyber threats from hostile states and non-state actors.

Ascension St. Vincent Hospitals in Indiana hit by national cyberattack
Ascension St. Vincent hospitals in Indiana are facing a cyberattack that is impacting the entire country. Suspicious activity is detected, prompting immediate investigation and remedial action. Appointments with patients will continue unless otherwise stated. Hospital networks across the country, including Community Health and IU Health, have suffered similar breaches. Cyber ​​attacks on hospitals have increased, making them a prime target.