Using incognito mode and VPN may still not ensure total privacy, according to expert
SVIMS Director and Vice-Chancellor B. Vengamma lighting a lamp to formally launch the cybercrime awareness programme conducted by the police department for the medical students in Tirupati on Wednesday.
An awareness meet on safe Internet practices was held for the students of Sri Venkateswara University University (SVU) and Sri Venkateswara Institute of Medical Sciences (SVIMS) here on Wednesday.
“Cyber criminals on the prowl can easily track our digital footprint, steal our identity and resort to impersonation,” cyber expert I.L. Narasimha Rao cautioned the college students.
Addressing the students in two sessions, Mr. Narasimha Rao, who is a Senior Manager with CyberPeace Foundation, said seemingly common acts like browsing a website, and liking and commenting on posts on social media platforms could be used by impersonators to recreate an account in our name.
Turning to the youth, Mr. Narasimha Rao said the incognito mode and Virtual Private Network (VPN) used as a protected network connection do not ensure total privacy as third parties could still snoop over the websites being visited by the users. He also cautioned them tactics like ‘phishing’, ‘vishing’ and ‘smishing’ being used by cybercriminals to steal our passwords and gain access to our accounts.
“After cracking the whip on websites and apps that could potentially compromise our security, the Government of India has recently banned 232 more apps,” he noted.
Additional Superintendent of Police (Crime) B.H. Vimala Kumari appealed to cyber victims to call 1930 or the Cyber Mitra’s helpline 9121211100. SVIMS Director B. Vengamma stressed the need for caution with smartphones becoming an indispensable tool for students, be it for online education, seeking information, entertainment or for conducting digital transactions.
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Overview:
The National Payments Corporation of India (NPCI) officially revealed on the 31st of July 2024 that its client C-Edge Technologies had been subject to a ransomware attack. These circumstances have caused C-Edge to be separated from retail payment systems to eliminate more threats to the national payment systems. More than 200 cooperative and regional rural banks have been affected leading to disruptions in normal services including ATM withdrawals and UPI transactions.
About C-Edge Technologies:
C-Edge Technologies was founded in the year 2010 especially to meet the specific requirements of the Indian banking and other allied sectors accentuating more on the cooperative and the regional rural banks. The company offers a range of services such as Core Banking Solutions by functioning as the center of a bank where customers’ records are managed and accounting of transactions takes place, Payment Solutions through the implementation of payment gateways and mobile banking facilities, cybersecurity through threat detection and incident response to protect banking organizations, data analytics and AI through the analytics of big banking data to reduce risks and detect frauds.
Details of Ransomware attack:
Reports say, this ransomware attack has been attributed by the RansomEXX group which primarily targeted Brontoo Technology Solutions, a key collaborator with C-Edge, through a misconfigured Jenkins server, which allowed unauthorized access to the systems.
The RansomExx group also known as Defray777 or Ransom X utilized a sophisticated variant known as RansomEXX v2.0 to execute the attack. This group often targets large organizations and demands substantial ransoms. RansomEXX uses various malware tools such as IcedID, Vatet Loader, and PyXie RAT. It typically infiltrates systems through phishing emails, exploiting vulnerabilities in applications and services, including Remote Desktop Protocol (RDP). The ransomware encrypts files using the Advanced Encryption Standard (AES), with the encryption key further secured using RSA encryption. This dual-layer encryption complicates recovery efforts for victims. RansomEXX operates on a ransomware-as-a-service model, allowing affiliates to conduct attacks using its infrastructure. Earlier in 2021, it attacked StarHub and Gigabyte’s servers for ransome.
Impact due to the attack:
The immediate consequences of the ransomware attack include:
- Service Disruption: This has negative implications to consumers especially the citizens who use the banks to do their day to day banking activities such as withdrawals and online transactions. Among the complaints some of them relate to cases where the sender’s account has been debited without the corresponding credit to the receiver account.
- Isolation Measures: Likely, NPCI is already following the right measures as it had disconnected C-Edge from its networks to contain the proliferation of the ransomware. This decision was made as a precautionary measure so that all functional aspects in a larger financial system are safeguarded.
Operations resumed:
The National Payments Corporation of India (NPCI) said it has restored connectivity with C-Edge Technologies Ltd after the latter’s network connection was severed by NPCI over security concerns that were evaluated by an external forensic auditing firm. The audit affirmed that all affected systems were contained in order to avoid the occurrence of ransomware attack contagion. All the affected systems were localized in C-Edge’s data center and no repercussion was evidenced regarding the infrastructure of the cooperative banks or the regional rural banks that are involved in the business. Both NPCI and C-Edge Technologies have resumed normalcy so that the banking and financial services being offered by these banks remain safe and secure.
Major Implications for Banking Sector:
The attack on C-Edge Technologies raises several critical concerns for the Indian banking sector:
- Cybersecurity Vulnerabilities: It also shows the weak linkages which are present within the technology system that help smaller sized banks. Nevertheless, the service has been offered by C-Edge regarding their cybersecurity solution, this attack evidence that the securities required should improve in all types of banks and banking applications.
- Financial Inclusion Risks: Co operative and regional rural banks also have its importance in the financial inclusion especially in rural and semi urban areas. Gradually, interruptions to their services pose a risk to signal diminished improvement in financial literacy for the excluded groups contrary to the common year advancement.
- Regulatory Scrutiny: After this event, agencies such as the Reserve Bank of India (RBI) may enhance the examination of the banking sector’s cybersecurity mechanisms. Some of the directives may even require institutions to adhere to higher compliance measures regarding the defense against cyber threats.
Way Forward: Mitigation
- Strengthening Cybersecurity: It is important to enhance the cyber security to eliminate this kind of attacks in the future. This may include using better threat detection systems, penetration testing to find the vulnerabilities, system hardening, and network monitoring from time to time.
- Transition to Cloud-Based Solutions: The application of adaptations in cloud solutions can contribute to the enhancement in operative efficiency as well as optimization in the utilization of resources. The security features of cloud should be implemented for safety and protection against cyber threats for SMEs in the banking sector.
- Leveraging AI and Data Analytics: Development of the AI-based solutions for fraud and risk control means that bank organizations get the chance to address threats and to regain clients’ trust.
Conclusion:
This ransomware attack in C-Edge Technologies in the banking sector provides a warning for all the infrastructures. Initial cleanup methodologies and quarantining are effective. The continuous monitoring of cyber security features in the infrastructure and awareness between employees helps to avoid these kinds of attacks. Building up cyber security areas will also effectively safeguard the institution against other cyber risks in the future and fortify the confidence and reliability of the financial system, especially the regional rural banks.
Reference:
- https://www.businesstoday.in/technology/news/story/c-edge-technologies-a-deep-dive-into-the-indian-fintech-powerhouse-hit-by-major-cyberattack-439657-2024-08-01
- https://www.thehindu.com/sci-tech/technology/customers-at-several-small-sized-banks-affected-as-tech-provider-c-edge-suffers-ransomware-attack/article68470198.ece
- https://www.cnbctv18.com/technology/ransomware-attack-disrupts-over-200-co-operative-banks-regional-rural-banks-19452521.htm
- https://timesofindia.indiatimes.com/city/ahmedabad/ransomware-breach-at-c-edge-impacts-transactions-for-cooperative-banks/articleshow/112180914.cms
- https://www.emsisoft.com/en/blog/41027/ransomware-profile-ransomexx/
Executive Summary:
A video purporting to be from Lal Chowk in Srinagar, which features Lord Ram's hologram on a clock tower, has gone popular on the internet. The footage is from Dehradun, Uttarakhand, not Jammu and Kashmir, the CyberPeace Research Team discovered.
Claims:
A Viral 48-second clip is getting shared over the Internet mostly in X and Facebook, The Video shows a car passing by the clock tower with the picture of Lord Ram. A screen showcasing songs about Lord Ram is shown when the car goes forward and to the side of the road.
The Claim is that the Video is from Kashmir, Srinagar
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Fact Check:
The CyberPeace Research team found that the Information is false. Firstly we did some keyword search relating to the Caption and found that the Clock Tower in Srinagar is not similar to the Video.
We found an article by NDTV mentioning Srinagar Lal Chowk’s Clock Tower, It's the only Clock Tower in the Middle of Road. We are somewhat confirmed that the Video is not From Srinagar. We then ran a reverse image search of the Video by breaking down into frames.
We found another Video that visualizes a similar structure tower in Dehradun.
Taking a cue from this we then Searched for the Tower in Dehradun and tried to see if it matches with the Video, and yes it’s confirmed that the Tower is a Clock Tower in Paltan Bazar, Dehradun and the Video is actually From Dehradun but not from Srinagar.
Conclusion:
After a thorough Fact Check Investigation of the Video and the originality of the Video, we found that the Visualisation of Lord Ram in the Clock Tower is not from Srinagar but from Dehradun. Internet users who claim the Visual of Lord Ram from Srinagar is totally Baseless and Misinformation.
- Claim: The Hologram of Lord Ram on the Clock Tower of Lal Chowk, Srinagar
- Claimed on: Facebook, X
- Fact Check: Fake
Executive Summary:
A viral video has circulated on social media, wrongly showing lawbreakers surrendering to the Indian Army. However, the verification performed shows that the video is of a group surrendering to the Bangladesh Army and is not related to India. The claim that it is related to the Indian Army is false and misleading.
Claims:
A viral video falsely claims that a group of lawbreakers is surrendering to the Indian Army, linking the footage to recent events in India.
Fact Check:
Upon receiving the viral posts, we analysed the keyframes of the video through Google Lens search. The search directed us to credible news sources in Bangladesh, which confirmed that the video was filmed during a surrender event involving criminals in Bangladesh, not India.
We further verified the video by cross-referencing it with official military and news reports from India. None of the sources supported the claim that the video involved the Indian Army. Instead, the video was linked to another similar Bangladesh Media covering the news.
No evidence was found in any credible Indian news media outlets that covered the video. The viral video was clearly taken out of context and misrepresented to mislead viewers.
Conclusion:
The viral video claiming to show lawbreakers surrendering to the Indian Army is footage from Bangladesh. The CyberPeace Research Team confirms that the video is falsely attributed to India, misleading the claim.
- Claim: The video shows miscreants surrendering to the Indian Army.
- Claimed on: Facebook, X, YouTube
- Fact Check: False & Misleading
