Cyber Investment Fraud worth Rs 854 Crore
Introduction
A 33-year-old MBA graduate and 36-year-old software engineer set up the cybercrime hub in one bedroom. They formed the nameless private enterprise two years ago and hired the two youngsters as employees. The police revealed that the fraudsters moved Rs 854 crore rapidly through 84 bank accounts in the last two years. They were using eight mobile phones active during the day and night for their malicious operations. This bad actors group came in the eyes of the police when a 26-year-old woman filed a complaint, she was lured and cheated for Rs 8.5 lakh on the pretext of making small investments for high returns. It led to cyber crime police on their doorstep. The police discovered that they were operating a massive cyber fraud network from that single room, targeting a large number of people for committing cyber fraud through offering investment schemes and luring innocent people.
How cybercrime fraudsters lured the victims?
The Bangalore police have busted a cyber fraud scam worth 854 Crore rupees. And police have arrested 6 accused. These bad actors illegally deceived numerous victims on the pretext of investment schemes. The gang used to lure them through WhatsApp and Telegram. Initially, the people were asked to invest small amounts, promising daily profits ranging from 1 thousand to 5 thousand rupees. As the trust grew, thousands of victims indulged in investments ranging from 1 lack to 10 lack rupees. This Money luring modus operandi was used by the fraudsters to attract them and get the victims to invest more and more. The amount invested by the victims was deposited into various bank accounts by the fraudsters. When the victims tried to withdraw their amount after depositing they were unable to do so. Soon after the amount was received, the accused gang would launder the money and divert it to other accounts.
Be cautious of online investment fraud
It concerns all of us who used to invest online. The Bangalore police have busted cyber crime or cyber investment fraud of 854 crore rupees. The 6 members of the gang that the police have arrested used to approach victims through WhatsApp and telegram to convince them to invest small amounts, from 1 thousand to 10 thousand at the bare minimum and promising them returns or profit amount per day and later lock this amount and diverting it into different bank accounts, ensuring that those get invested never get access to it again. Now, this went on in the country receiving a large number of cases that have been registered from various states in the country.
Advisory and best practices
- It is important to mention that there could be several other cybercrime investment frauds like this that you may not even be aware of. Hence, this incident of massive online investment fraud operated from the IT capital of the country definitely acts as an eye-opener for all of us. We urge people to be cautious and raise the alarm about any such cyber crime or investment fraud that they see in the cyber world today.
- In the age of the internet, where there is a large number of mobile users in the country, and users look for a source of income on the internet and use it to invest their money, it is important to be aware of such fraud and be cautious and take proper precautions before investing in any such online scheme. It is always advisable to invest only in legitimate sources and after conducting due diligence.
- Be cautious and do your research: Whenever you are investing in any scheme or in digital currency, make sure to verify the authenticity or legitimacy of the person or company who is offering such service. Check the reviews, official website, and feedback from authentic sources. Find out whether the agents or brokers who contact you are licensed to operate in your state and are compliant with regulators or other investors.
- Verify the credentials: Check the genuineness by checking the licenses, registration and certification of the person or company offering such services, whether he is authorised or not.
- Be Skeptical of offers which seem to be too good: If it sounds too good, be cautious and inquire about its authenticity, such as unsolicited offers. Be especially careful if you receive an unsolicited pitch to invest in a particular company or see it praised online but if you could not find current financial information about it from independent sources. It could be a fraudulent scheme. It is advisable to compare promised yields with current returns on well-known stock indexes.
- Seek Expert Advice: If you are a beginner in online investment, you may seek advice from reliable resources such as financial advisors who can provide more clarity on aspects of investment and guidance to help you make informed decisions.
- Avoid Unreliable Platforms: Be cautious and stick to authorised established agencies. Be cautious when dealing with a person or company lacking sufficient user reviews and credible security measures.
- Protect yourself online: Protect yourself online. Fraudsters target users on online and social marketing sites and commit various online frauds; hence, it's important to be cautious and protect yourself online. So be cautious and make your own sound decision after all analysis while investing in any such services.
- Report Suspicious Accounts: If you encounter any social media accounts, social media groups or profiles which seem suspicious and engaged in fraudulent services, you must report such profiles to the respective platform immediately.
- Report cyber crimes to law enforcement agencies: A powerful resource available to victims of cybercrime is the National Cyber Crime Reporting Portal, equipped with a 24x7 helpline number, 1930. This portal serves as a centralised platform for reporting cybercrimes, including financial fraud.
Conclusion:
This recent cyber investment fraud worth Rs 854 Crore, orchestrated by a group of fraudsters operating from a single room, serves as a stark reminder of the risks posed by bad actors. This incident underscores the importance of being vigilant when it comes to online investments and financial transactions. As we navigate the vast and interconnected landscape of the internet, it is imperative that we exercise due diligence and employ best practices to protect ourselves. We need to be cautious and protected from falling victim to these fraudulent schemes, actively reporting suspicious accounts and cybercrimes to relevant authorities through resources like the National Cyber Crime Reporting Portal will contribute to helping stop these types of cyber crimes. Knowledge and awareness are some of the biggest factors we have in fighting back against such cyber frauds in this digital age and making a safer digital environment for everyone.
References
- https://www.news18.com/india/bengaluru-cyber-crime-rs-854-crore-84-banks-accounts-fraud-network-one-bedroom-house-yelahanka-karnataka-8618426.html
- https://indianexpress.com/article/cities/bangalore/cyber-crime-bengaluru-links-over-5000-cases-india-8982753/lite/
Related Blogs
Overview:
‘Kia Connect’ is the application that is used to connect ‘Kia’ cars which allows the user control various parameters of the vehicle through the application on his/her smartphone. The vulnerabilities found in most Kias built after 2013 with but little exception. Most of the risks are derived from a flawed API that deals with dealer relations and vehicle coordination.
Technical Breakdown of Exploitation:
- API Exploitation: The attack uses the vulnerabilities in Kia’s dealership network. The researchers also noticed that, for example, the logs generated while impersonating a dealer and registering on the Kia dealer portal would be sufficient for deriving access tokens needed for next steps.
- Accessing Vehicle Information: The license plate number allowed the attackers to get the Vehicle Identification Number (VIN) number of their preferred car. This VIN can then be used to look up more information about the car and is an essential number to determine for the shared car.
- Information Retrieval: Having the VIN number in hand, attackers can launch a number of requests to backends to pull more sensitive information about the car owner, including:
- Name
- Email address
- Phone number
- Geographical address
- Modifying Account Access: With this information, attackers could change the accounts settings to make them a second user on the car, thus being hidden from the actual owner of the account.
- Executing Remote Commands: Once again, it was discovered that attackers could remotely execute different commands on the vehicle, which includes:some text
- Unlocking doors
- Starting the engine
- Monitoring the location of the vehicle in terms of position.
- Honking the horn
Technical Execution:
The researchers demonstrated that an attacker could execute a series of four requests to gain control over a Kia vehicle:
- Generate Dealer Token: The attacker sends an HTTP request in order to create a dealer token.
- Retrieve Owner Information: As indicated using the generated token, they make another request to another endpoint that returns the owner’s email address and phone number.
- Modify Access Permissions: The attacker takes advantage of the leaked information (email address and VIN) of the owner to change between users accounts and make himself the second user.
- Execute Commands: As the last one, they can send commands to perform actions on the operated vehicle.
Security Response and Precautionary Measures for Vehicle Owners
- Regular Software Updates: Car owners must make sure their cars receive updates on the recent software updates provided by auto producers.
- Use Strong Passwords: The owners of Kia Connect accounts should develop specific and complex passwords for their accounts and then update them periodically. They should avoid using numbers like the birth dates, vehicle numbers and simple passwords.
- Enable Multi-Factor Authentication: For security, vehicle owners should turn on the use of the secondary authentication when it is available to protect against unauthorized access to an account.
- Limit Personal Information Sharing: Owners of vehicles should be careful with the details that are connected with the account on their car, like the e-mail or telephone number, sharing them on social networks, for example.
- Monitor Account Activity: It is also important to monitor the account activity because of change or access attempts that are unauthorized. In case of any abnormality or anything suspicious felt while using the car, report it to Kia customer support.
- Educate Yourself on Vehicle Security: Being aware of cyber threats that are connected to vehicles and learning about how to safeguard a vehicle from such threats.
- Consider Disabling Remote Features When Not Needed: If remote features are not needed, then it is better to turn them off, and then turn them on again when needed. This can prove to help diminish the attack vector for would-be hackers.
Industry Implications:
The findings from this research underscore broader issues within automotive cybersecurity:
- Web Security Gaps: Most car manufacturers pay more attention to equipment running in automobiles instead of the safety of the websites that the car uses to operate thereby exposing automobiles that are connected very much to risks.
- Continued Risks: Vehicles become increasingly connected to internet technologies. Auto makers will have to carry cyber security measures in their cars in the future.
Conclusion:
The weaknesses found in Kia’s connected car system are a key concern for Automotive security. Since cars need web connections for core services, suppliers also face the problem of risks and need to create effective safeguards. Kia took immediate actions to tighten the safety after disclosure; however, new threats will emerge as this is a dynamic domain involving connected technology. With growing awareness of these risks, it is now important for car makers not only to put in proper security measures but also to maintain customer communication on how it safeguards their information and cars against cyber dangers. That being an incredibly rapid approach to advancements in automotive technology, the key to its safety is in our capacity to shield it from ever-present cyber threats.
Reference:
- https://timesofindia.indiatimes.com/auto/cars/hackers-could-unlock-your-kia-car-with-just-a-license-plate-is-yours-safe/articleshow/113837543.cms
- https://www.thedrive.com/news/hackers-found-millions-of-kias-could-be-tracked-controlled-with-just-a-plate-number
- https://www.securityweek.com/millions-of-kia-cars-were-vulnerable-to-remote-hacking-researchers/
- https://news24online.com/auto/kia-vehicles-hack-connected-car-cybersecurity-threat/346248/
- https://www.malwarebytes.com/blog/news/2024/09/millions-of-kia-vehicles-were-vulnerable-to-remote-attacks-with-just-a-license-plate-number
- https://informationsecuritybuzz.com/kia-vulnerability-enables-remote-acces/
- https://samcurry.net/hacking-kia
Introduction
We consume news from various sources such as news channels, social media platforms and the Internet etc. In the age of the Internet and social media, the concern of misinformation has become a common issue as there is widespread misinformation or fake news on the Internet and social media platforms.
Misinformation on social media platforms
The wide availability of user-provided content on online social media platforms facilitates the spread of misinformation. With the vast population on social media platforms, the information gets viral and spreads all over the internet. It has become a serious concern as such misinformation, including rumours, morphed images, unverified information, fake news, and planted stories, spread easily on the internet, leading to severe consequences such as public riots, lynching, communal tensions, misconception about facts, defamation etc.
Platform-centric measures to mitigate the spread of misinformation
- Google introduced the ‘About this result’ feature’. This allows the users to help with better understand the search results and websites at a glance.
- During the covid-19 pandemic, there were huge cases of misinformation being shared. Google, in April 2020, invested $6.5 million in funding to fact-checkers and non-profits fighting misinformation around the world, including a check on information related to coronavirus or on issues related to the treatment, prevention, and transmission of Covid-19.
- YouTube also have its Medical Misinformation Policy which prevents the spread of information or content which is in contravention of the World Health Organization (WHO) or local health authorities.
- At the time of the Covid-19 pandemic, major social media platforms such as Facebook and Instagram have started showing awareness pop-ups which connected people to information directly from the WHO and regional authorities.
- WhatsApp has a limit on the number of times a WhatsApp message can be forwarded to prevent the spread of fake news. And also shows on top of the message that it is forwarded many times. WhatsApp has also partnered with fact-checking organisations to make sure to have access to accurate information.
- On Instagram as well, when content has been rated as false or partly false, Instagram either removes it or reduces its distribution by reducing its visibility in Feeds.
Fight Against Misinformation
Misinformation is rampant all across the world, and the same needs to be addressed at the earliest. Multiple developed nations have synergised with tech bases companies to address this issue, and with the increasing penetration of social media and the internet, this remains a global issue. Big tech companies such as Meta and Google have undertaken various initiatives globally to address this issue. Google has taken up the initiative to address this issue in India and, in collaboration with Civil Society Organisations, multiple avenues for mass-scale awareness and upskilling campaigns have been piloted to make an impact on the ground.
How to prevent the spread of misinformation?
Conclusion
In the digital media space, there is a widespread of misinformative content and information. Platforms like Google and other social media platforms have taken proactive steps to prevent the spread of misinformation. Users should also act responsibly while sharing any information. Hence creating a safe digital environment for everyone.
Executive Summary:
A video clip being circulated on social media allegedly shows the Hon’ble President of India, Smt. Droupadi Murmu, the TV anchor Anjana Om Kashyap and the Hon’ble Chief Minister of Uttar Pradesh, Shri Yogi Adityanath promoting a medicine for diabetes. While The CyberPeace Research Team did a thorough investigation, the claim was found to be not true. The video was digitally edited, with original footage of the heavy weight persons being altered to falsely suggest their endorsement of the medication. Specific discrepancies were found in the lip movements and context of the clips which indicated AI Manipulation. Additionally, the distinguished persons featured in the video were actually discussing unrelated topics in their original footage. Therefore, the claim that the video shows endorsements of a diabetes drug by such heavy weights is debunked. The conclusion drawn from the analysis is that the video is an AI creation and does not reflect any genuine promotion. Furthermore, it's also detected by AI voice detection tools.
Claims:
A video making the rounds on social media purporting to show the Hon'ble President of India, Smt. Draupadi Murmu, TV anchor Anjana Om Kashyap, and Hon'ble Chief Minister of Uttar Pradesh Shri Yogi Adityanath giving their endorsement to a diabetes medicine.
Fact Check:
Upon receiving the post we carefully watched the video and certainly found some discrepancies between lip synchronization and the word that we can hear. Also the voice of Chief Minister of Uttar Pradesh Shri Yogi Adityanath seems to be suspicious which clearly indicates some sign of fabrication. In the video, we can hear Hon'ble President of India Smt. Droupadi Murmu endorses a medicine that cured her diabetes. We then divided the video into keyframes, and reverse-searched one of the frames of the video. We landed on a video uploaded by Aaj Tak on their official YouTube Channel.
We found something similar to the same viral video, we can see the courtesy written as Sansad TV. Taking a cue from this we did some keyword searches and found another video uploaded by the YouTube Channel Sansad TV. In this video, we found no mention of any diabetes medicine. It was actually the Swearing in Ceremony of the Hon’ble President of India, Smt. Droupadi Murmu.
In the second part, there was a man addressed as Dr. Abhinash Mishra who allegedly invented the medicine that cures diabetes. We reverse-searched the image of that person and landed at a CNBC news website where the same face was identified as Dr Atul Gawande who is a professor at Harvard School of Public Health. We watched the video and found no sign of endorsing or talking about any diabetes medicine he invented.
We also extracted the audio from the viral video and analyzed it using the AI audio detection tool named Eleven Labs, which found the audio very likely to be created using the AI Voice generation tool with the probability of 98%.
Hence, the Claim made in the viral video is false and misleading. The Video is digitally edited using different clips and the audio is generated using the AI Voice creation tool to mislead netizens. It is worth noting that we have previously debunked such voice-altered news with bogus claims.
Conclusion:
In conclusion, the viral video claiming that Hon'ble President of India, Smt. Droupadi Murmu and Chief Minister of Uttar Pradesh Shri Yogi Adityanath promoted a diabetes medicine that cured their diabetes, is found to be false. Upon thorough investigation it was found that the video is digitally edited from different clips, the clip of Hon'ble President of India, Smt. Droupadi Murmu is taken from the clip of Oath Taking Ceremony of 15th President of India and the claimed doctor Abhinash Mishra whose video was found in CNBC News Outlet. The real name of the person is Dr. Atul Gawande who is a professor at Harvard School of Public Health. Online users must be careful while receiving such posts and should verify before sharing them with others.
Claim: A video is being circulated on social media claiming to show distinguished individuals promoting a particular medicine for diabetes treatment.
Claimed on: Facebook
Fact Check: Fake & Misleading
