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Showing posts with label Online Scam. Show all posts
unauthorised access
Cyber Fraud Financial crime Financial Loss Information Technology Online fraud Online Scam OTP unauthorised access

E-Challan Fraud, Man Loses Rs 50,000 Despite Not Sharing Bank OTP

 

In a cautionary tale from Thane, a 41-year-old man, M.R. Bhosale, found himself embroiled in a sophisticated online scam after his father fell victim to a deceptive text message. The incident sheds light on the dangers of trusting unknown sources and underscores the importance of vigilance in the digital age. 

Bhosale's father, a diligent auto-rickshaw driver in Ghatkopar, received a seemingly official text message from the Panvel Traffic Police, notifying him of a traffic violation challan against his vehicle. The message directed him to settle the fine through a designated app called Vahan Parivahan, with a provided download link. Unbeknownst to him, the message was a clever ruse orchestrated by scammers to dupe unsuspecting victims. 

When Bhosale's father encountered difficulties downloading the app, he sought his son's help. Little did they know, their attempt to rectify the situation would lead to financial loss and distress. Upon downloading the app on his device, Bhosale encountered a barrage of One-Time Passwords (OTPs), signalling a red flag. Sensing trouble, he promptly uninstalled the app. 

However, the damage had been done. A subsequent check of his bank statement revealed unauthorized transactions totalling Rs 50,000. With resolve, Bhosale wasted no time in reporting the incident to the authorities. A formal complaint was filed, detailing the deceptive mobile number, fraudulent link, and unauthorized transactions. 

In response, the police initiated an investigation, invoking sections 66C and 66D of the Information Technology Act to pursue the perpetrators and recover the stolen funds. This unfortunate ordeal serves as a stark reminder of the prevalence of online scams and the importance of exercising caution in the digital realm. To avoid falling victim to similar schemes, users must remain vigilant and skeptical of unsolicited messages or unfamiliar apps. 

Blind trust in unknown sources can lead to devastating consequences, as Bhosale's family discovered firsthand. Furthermore, it is essential to verify the authenticity of communications from purported official sources and refrain from sharing personal or financial information without thorough verification. 

In an era where online scams abound, skepticism and diligence are paramount. As the investigation unfolds, Bhosale's story serves as a cautionary tale for all internet users. By staying informed, exercising caution, and seeking assistance when in doubt, individuals can protect themselves from falling prey to online scams.
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secure public Wi-Fi
Cyber Crime Data Theft Financial crime Online Scam secure public Wi-Fi

Public WiFi Convenience Leads to Cyber Threats, Read to Know Everything

 

Cybersecurity experts are issuing a stern warning to Scots regarding the potential dangers lurking within public WiFi networks. While the convenience of accessing the internet on the go, such as during train commutes, may seem appealing, experts emphasize the significant cybersecurity risks that accompany such practices. 

One of the primary concerns raised by cybersecurity professionals is the phenomenon known as "session hijacking." In this scenario, cybercriminals exploit vulnerabilities present in public WiFi networks to gain unauthorized access to users' devices while they are browsing online. 

Let’s Understand ‘Session Hijacking’ in Simple Words 

Session hijacking, a prevalent cybersecurity attack, occurs when an attacker gains control of an individual's internet session while they are engaged in activities such as checking their credit card balance, paying bills, or shopping online. 

Typically, session hijackers target browser or web application sessions to perpetrate their attacks. Once a session hijacking attack is successful, the attacker gains the ability to perform any action that the victim could undertake on the targeted website. Essentially, the hijacker deceives the website into believing that they are legitimate users, thereby granting them unauthorized access and control over the victim's session.  And it can lead to various cyber-crimes and financial scams. 

Do You Know What Risks Lurking in Public WiFi Networks? 

Vincent van Dijk MSc a cybersecurity expert, warns individuals about the lurking dangers within public WiFi networks, highlighting three prevalent cyber threats: 

1. Man-in-the-Middle attacks 
2.  Evil Twin attacks 
3. Malware Present in Networks 

In a Man-in-the-Middle attack, hackers infiltrate the public network, intercepting data as it travels from a connected device to the WiFi router. Vincent explains the severity of this threat, stating, "If you are engaged in online banking during such an attack, hackers can easily access your passwords and account information. Your credit card numbers, email addresses, and other personal details become vulnerable to theft." 

Evil Twin attacks present another insidious threat. When users search for a public WiFi hotspot, they may encounter a fraudulent network pretending as a legitimate one. These malicious networks often bear names strikingly similar to authentic ones, such as 'Free University Wi-Fi2' or 'Station Wi-Fi04.' Therefore, connecting to these clones exposes users to scammers, compromising their private data and leaving them susceptible to exploitation. 

Further, Vincent explains that when hackers successfully infect a network with malware, they gain the ability to distribute harmful software bugs to any device connected to it. As a cautionary measure, he advises users to exercise caution if they encounter unexpected pop-up notifications while connected to such networks. Clicking on these pop-ups could inadvertently lead to exposure to infected links, putting users' devices and sensitive information at risk. 

Following the concerns related to public WiFi, experts suggested public to use Virtual Private Networks (VPNs) and verify network authenticity while using Public Wifi. By doing so users can mitigate the risks associated with public WiFi usage, safeguarding their sensitive information from cybercriminals.
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Social Media
Crypto Fraud Cyber Fraud FTM Fraud Illicit Activity Online Scam Social Media

Twitter Becomes the Epicentre of FTM Fraud

 

Online settings, such as Twitter, are becoming increasingly perilous, rife with fraudulent schemes aimed at naïve victims. Social media giant has recently been the epicentre of deception, with fraudsters deploying innovative ways to abuse its massive user base.

One such worrisome tendency is the widespread use of a scam involving the illicit distribution of Fantom (FTM) tokens, a situation that casts a sharp light on the rising issue of illegal activities inside the cryptocurrency arena. 

Modus operandi

Following a devastating hack of Multichain, a decentralised banking protocol, cybercriminals recently switched their attention to the Fantom network. These perpetrators created a deceptive story that gathered traction on Twitter by taking advantage of the confusion that resulted. 

They made false claims that the Fantom Foundation, a nonprofit organisation responsible for managing the Fantom network, was issuing FTM tokens to all users in reaction to the Multichain attack. This deceptive post was then rapidly circulated, its promise of free tokens luring a sizable number of Twitter users. 

A phishing link that was included in the tweet and was meant to trick recipients into thinking it was coming from the Fantom Foundation added credibility to the scam. This manipulative method, intended to take advantage of the reliability linked to well-known companies, is a typical tactic in the cybercriminal playbook. 

The chaotic events started on July 6 when anomalous behaviour on the Multichain platform was discovered. In response, Multichain shut down all activities and started an inquiry into the mysterious disappearance of assets valued at over $125 million. 

The Fantom bridge, which lost an estimated $122 million in multiple cryptocurrencies, including Wrapped Bitcoin (WBTC), USD Coin, Tether, and a number of altcoins, was the main victim of this crime. 

The initial response from Multichain was to warn users to stop using the protocol and to withdraw any contract approvals related to their platform. It was advised to take this cautious approach up till a more comprehensive picture of the circumstances was achieved. 

Worrying trend 

This exploit is part of an alarming pattern in the bitcoin business where Twitter is being utilised as a haven for scams, and it is not a unique event. 

During the Multichain hack saga, prominent industry figure Changpeng "CZ" Zhao, CEO of Binance, entered the battle and assured his Twitter followers that the Binance platform had not been impacted and that all money was safe.

But in a world full of lies, not all voices of comfort can be relied upon. The Fantom scam serves as yet another sombre reminder of the necessity for caution when interacting with the cryptocurrency market online, especially on public social media sites like Twitter. 

It's imperative to exercise caution when clicking on unknown links and offers that seem unreal. As we move forward, cybersecurity is not just about protection but also about judgement and attentiveness, realising that not everything on Twitter is digital gold.
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User Privacy
Brushing Scam Cyber Fraud Financial Fraud Online Scam User Privacy

Amazon Brushing Scam: What It Is And How To Avoid It

 

Though it's one of the most well-liked online shopping sites, did you realise that scammers frequently target Amazon. The brushing scam is one of many scams that prey on Amazon customers, but it is also one of the most prevalent. Learn about this fraud and how to avoid falling victim to it.

What do Amazon brush scams entail?

One sort of eCommerce fraud involves vendors creating fictitious customer accounts to leave positive reviews for their own products on Amazon. These false testimonials may deceive other customers and affect their purchasing choices. 

Sometimes the merchant would send a low-quality item or an empty box to the bogus account before swiftly refunding the money. They do this in order to make a verified purchase, which gives their false reviews credibility.  ‍

Scams of this nature damage consumer confidence and compromise the reliability of the Amazon marketplace. 3PL delivery firms, which often require little customer verification before shipping out an order, can be particularly susceptible to this form of fraud. 

How do brushing scams function?

A typical brush scam involves the seller giving a substantial discount on a costly item. When a customer tries to purchase a product, they are transferred to another website where they must input their credit card details. The fraudsters use this information to create fake invoices. ‍ 

Because the con artists frequently use the name of a well-known company, like Amazon, to make it seem legitimate, this form of scam is also known as a "brushing scam". The buyer could occasionally even get an email from Amazon that appears to be an order confirmation. But if you mouse over the email's link, you'll notice that it doesn't actually take you to Amazon's website. 

Mitigation tips  

There are a few things you may do if you've been the victim of brushing to report it and obtain assistance.

Contact customer service

First, contact their customer service department and explain the situation if you bought the item from an online retailer like Amazon, eBay, or Alibaba. They might be able to give you a refund or another sort of compensation for your purchase.

Reach out to the 3PL 

Second, you should get in touch with the 3pl (third party logistics) business, such as UPS or FedEx, if the item you bought was shipped by them, and explain the problem. They might be able to find the sender of the box and take proper action after that. 

Speak with your bank

Finally, you should call your bank or credit card company right once if you believe that your personal information, such as your credit card number, may have been hacked. If necessary, they will be able to assist you in cancelling your card and issuing a new one. ‍
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Online Shopping
Cyber Fraud CyberCrime Hackers Arrested Hong Kong Online Scam Online Shopping

Hong Kong: 43 Suspects Arrested For Defrauding HK$12 Million From Victims Via Online Shopping Scams and Love Frauds

 

As a part of the attempts to combat cybercrimes and frauds, Hong Kong has reportedly detained 43 people, with suspicion of being involved in a series of citywide raids during a week-long operation.
 
According to the police force, the arrested suspects between the age of 17 and 75 include waiters, technicians, workers, and unemployed people. During the operation, code-named Skyrocket, police officers seized the suspect’s mobile phones and bank cards.
 
The accused, involving 28 men and 15 women arrested between October 20 to 26, were allegedly deceiving victims of HK$12 million (1.5 million USD) in a total of 37 cases including internet love scams and shopping frauds, the police force reported on Friday.
 
The victims compromised between several hundred Hong Kong to about HK$900,000, says Senior Inspector Thomas Anthony Lo of the Wan Chai district crime squad.
 
The suspects were arrested for acquiring property by deceiving victims, particularly via money laundering. They included bank account holders, who were used to collect and launder crime proceeds.
 
As announced by the force, all the detained suspects were later released on bail, with none of them being charged. Although they are required to report back to the police next month.
 
Money laundering, in Hong Kong, is a punishable offense, involving a maximum sentence of 14 years and a fine of HK$5 million, while obtaining property via fraud carried a maximum sentence of up to 10 years behind the bars.
 
In a similar case, detectives from the Yau Tsim district crime squad detained two men, suspected of being involved in an online shopping scam. Reportedly, the suspects impersonated online buyers, befooling at least 10 victims into selling them valuables worth more than HK$1.5 million, but used cheques that bounced to pay for the goods.
 
The police were introduced to the case after one of the victims, a 41-year-old man reported to them on October 10, it was after he was tricked into falling for the scam and losing a HK$7,000 bracelet.
 
The two suspects aged 34 and 40 were later arrested from their flats in Hong Konk, on Wednesday. Additionally, the police recovered a HK$70,000 handbag from one of the flats, that belonged to one of the victims. While the investigation is still ongoing, more arrests are possible, the police force states.
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User Security
Christmas Scam Cyber Fraud Online Scam UK User Security

UK Residents Warned to Watch out for Purchase Scams when Buying Gifts this Christmas

 

Christmas shopping can be a headache for UK residents as hackers continue to ramp up their efforts to siphon money on online shopping sites. The prospect of long queues and the rising cost of living have persuaded many to scan for lucrative deals in order to manage their bank account this Christmas. 

A huge spike in energy bills has already put millions of households on the verge of fuel poverty and the situation can be much worse by the end of this year. Hence, Britons will choose to shop online for their presents this year, but Christmas could be ruined if you fall victim to the thousands of online scams. 

Over the last three months, there has been an 86% surge in reports of victims being conned while shopping online, as reported to the cyber helpline. 

A recent victim, who requested anonymity, explained how he was trapped in an online scam: “I was shopping online and found some good deals on a site I found on social media. I spent £179, but my items didn’t turn up. I contacted the customer care number and they advised me that the order had failed to go through even though the money had been deducted from my account.” 

“They sent me an email with a form to fill in to help them process my order. The form asked for the card details I had used for my order and without thinking I also shared my PIN. Over the next few days over £200 has been taken from my bank account.” 

In some cases, the items are delivered but they are faulty or completely different from the description. Additionally, the fraudsters are targeting sellers by sending the product before payment or buying an item and then returning a fake item, but getting their money back. 

Prevention strategies 

Here are some simple tips to help you and your family enjoy a secure online shopping experience this festive season. 

Question product availability: Carry out some research first, or ask a friend or family member if they’ve used the site and regarding their experiences before completing the purchase. 

Check where you are sending your money: Be cautious while paying for your items, and scan if there’s a ‘closed padlock’ icon in the browser’s address bar. Use a credit card when shopping online, if you have one. The majority of credit card providers protect online purchases. 

Employ strong passwords: Make sure that your really important accounts (such as your email account or online shopping accounts) are protected by strong passwords that you don’t use anywhere else. 

“Be extremely careful when you are shopping online this Christmas. The internet is awash with fake shopping sites, fake items for sale, and criminals trying to scam you,” Founder & CEO of The Cyber Helpline, Rory Innes, stated. There will be a lot of valid offers and deals over the coming weeks, but before you buy, check if the website is legitimate, if the offer looks reasonable, search online for reviews and check if the company really exists. If you received the offer in a message or email, don’t click any links and visit the official website directly to check if the offer exists.”
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