Digital Finance: Global Impact of India's CBDC Project

Introduction

In this ever-evolving world of technology, cybercrimes and criminals continue to explore new and innovative methods to exploit and intimidate their victims. One of the recent shocking incidents has been reported from the city of Bharatpur, Rajasthan, where the cyber crooks organised a mock court session This complex operation, meant to induce fear and force obedience, exemplifies the daring and intelligence of modern hackers. In this blog article, we’ll go deeper into this concerning occurrence, delving into it to offer light on the strategies used and the ramifications for cybersecurity.to frighten their targets.

The Setup

The case was reported from Gopalgarh village in Bharatpur, Rajasthan, and has unfolded with a shocking twist -the father-son duo, Tahir Khan and his son Talim Khano — from Gopalgarh village in Bharatpur, Rajasthan, has been fooling people to gain their monetary gain by staging a mock court setting and recorded the proceedings to intimidate their victims into paying hefty sums. In the recent case, they have gained 2.69 crores through sextortion. the duo uses to trace their targets on social media platforms, blackmail them, and earn a hefty amount.

An official complaint was filed by a 69-year-old victim who was singled out through his social media accounts, his friends, and his posts Initially, they contacted the victim with a pre-recorded video featuring a nude woman, coaxing him into a compromising situation. As officials from the Delhi Crime Branch and the CBI, they threatened the victim, claiming that a girl had approached them intending to file a complaint against him. Later, masquerading as YouTubers, they threatened to release the incriminating video online. Adding to the charade, they impersonated a local MLA and presented the victim with a forged stamp paper alleging molestation charges. Eventually, posing as Delhi Crime Branch officials again, they demanded money to settle the case after falsely stating that they had apprehended the girl. To further manipulate the victim, the accused staged a court proceeding, recording it and subsequently sending it to him, creating the illusion that everything was concluded. This unique case of sextortion stands out as the only instance where the culprits went to such lengths, staging and recording a mock court to extort money.  Furthermore, it was discovered that the accused had fabricated a letter from the Delhi High Court, adding another layer of deception to their scheme.

The Investigation

The complaint was made in a cyber cell. After the complaint was filed, the investigation was made, and it was found that this case stands as one of the most significant sextortion incidents in the country. The father-son pair skillfully assumed five different roles, meticulously executing their plan, which included creating a simulated court environment. “We have also managed to recover Rs 25 lakh from the accused duo—some from their residence in Gopalgarh and the rest from the bank account where it was deposited.

The Tricks used by the duo
The father-son The setup in the fake court scene event was a meticulously built web of deception to inspire fear and weakness in the victim. Let’s look at the tricks the two used to fool the people.

• Social Engineering strategies: Cyber criminals are skilled at using social engineering strategies to acquire the trust of their victims. In this situation, they may have employed phishing emails or phone calls to get personal information about the victim. By appearing as respectable persons or organisations, the crooks tricked the victim into disclosing vital information, giving them weapons they needed to create a sense of trustworthiness.
• Making a False Narrative: To make the fictitious court scenario more credible, the cyber hackers concocted a captivating story based on the victim’s purported legal problems. They might have created plausible papers to give their plan authority, such as forged court summonses, legal notifications, or warrants. They attempted to create a sense of impending danger and an urgent necessity for the victim to comply with their demands by deploying persuasive language and legal jargon.
• Psychological Manipulation: The perpetrators of the fictitious court scenario were well aware of the power of psychological manipulation in coercing their victims. They hoped to emotionally overwhelm the victim by using fear, uncertainty, and the possible implications of legal action. The offenders probably used threats of incarceration, fines, or public exposure to increase the victim’s fear and hinder their capacity to think critically. The idea was to use desperation and anxiety to force the victim to comply.
• Use of Technology to Strengthen Deception: Technological advancements have given cyber thieves tremendous tools to strengthen their misleading methods. The simulated court scenario might have included speech modulation software or deep fake technology to impersonate the voices or appearances of legal experts, judges, or law enforcement personnel. This technology made the deception even more believable, blurring the border between fact and fiction for the victim.

The use of technology in cybercriminals’ misleading techniques has considerably increased their capacity to fool and influence victims. Cybercriminals may develop incredibly realistic and persuasive simulations of judicial processes using speech modulation software, deep fake technology, digital evidence alteration, and real-time communication tools. Individuals must be attentive, gain digital literacy skills, and practice critical thinking when confronting potentially misleading circumstances online as technology advances. Individuals can better protect themselves against the expanding risks posed by cyber thieves by comprehending these technological breakthroughs.

What to do?

Seeking Help and Reporting Incidents: If you or anyone you know is the victim of cybercrime or is fooled by cybercrooks. When confronted with disturbing scenarios such as the imitation court scene staged by cybercrooks, victims must seek help and act quickly by reporting the occurrence. Prompt reporting serves various reasons, including increasing awareness, assisting with investigations, and preventing similar crimes from occurring again. Victims should take the following steps:

• Contact your local law enforcement: Inform local legal enforcement about the cybercrime event. Provide them with pertinent incident facts and proof since they have the experience and resources to investigate cybercrime and catch the offenders involved.
• Seek Assistance from a Cybersecurity specialist: Consult a cybersecurity specialist or respected cybersecurity business to analyse the degree of the breach, safeguard your digital assets, and obtain advice on minimising future risks. Their knowledge and forensic analysis can assist in gathering evidence and mitigating the consequences of the occurrence.
• Preserve Evidence: Keep any evidence relating to the event, including emails, texts, and suspicious actions. Avoid erasing digital evidence, and consider capturing screenshots or creating copies of pertinent exchanges. Evidence preservation is critical for investigations and possible legal procedures.

Conclusion

The setting fake court scene event shows how cybercriminals would deceive and abuse their victims. These criminals tried to use fear and weakness in the victim through social engineering methods, the fabrication of a false narrative, the manipulation of personal information, psychological manipulation, and the use of technology. Individuals can better defend themselves against cybercrooks by remaining watchful and sceptical.

Introduction

The G7 nations, a group of the most powerful economies, have recently turned their attention to the critical issue of cybercrimes and (AI) Artificial Intelligence. G7 summit has provided an essential platform for discussing the threats and crimes occurring from AI and lack of cybersecurity. These nations have united to share their expertise, resources, diplomatic efforts and strategies to fight against cybercrimes. In this blog, we shall investigate the recent development and initiatives undertaken by G7 nations, exploring their joint efforts to combat cybercrime and navigate the evolving landscape of artificial intelligence. We shall also explore the new and emerging trends in cybersecurity, providing insights into ongoing challenges and innovative approaches adopted by the G7 nations and the wider international community.

G7 Nations and AI

Each of these nations have launched cooperative efforts and measures to combat cybercrime successfully. They intend to increase their collective capacities in detecting, preventing, and responding to cyber assaults by exchanging intelligence, best practices, and experience. G7 nations are attempting to develop a strong cybersecurity architecture capable of countering increasingly complex cyber-attacks through information-sharing platforms, collaborative training programs, and joint exercises.

The G7 Summit provided an important forum for in-depth debates on the role of artificial intelligence (AI) in cybersecurity. Recognising AI’s transformational potential, the G7 nations have participated in extensive discussions to investigate its advantages and address the related concerns, guaranteeing responsible research and use. The nation also recognises the ethical, legal, and security considerations of deploying AI cybersecurity.

Worldwide Rise of Ransomware

High-profile ransomware attacks have drawn global attention, emphasising the need to combat this expanding threat. These attacks have harmed organisations of all sizes and industries, leading to data breaches, operational outages, and, in some circumstances, the loss of sensitive information. The implications of such assaults go beyond financial loss, frequently resulting in reputational harm, legal penalties, and service delays that affect consumers, clients, and the public. The increase in high-profile ransomware incidents has garnered attention worldwide, Cybercriminals have adopted a multi-faceted approach to ransomware attacks, combining techniques such as phishing, exploit kits, and supply chain Using spear-phishing, exploit kits, and supply chain hacks to obtain unauthorised access to networks and spread the ransomware. This degree of expertise and flexibility presents a substantial challenge to organisations attempting to protect against such attacks.

Focusing On AI and Upcoming Threats

During the G7 summit, one of the key topics for discussion on the role of AI (Artificial Intelligence) in shaping the future, Leaders and policymakers discuss the benefits and dangers of AI adoption in cybersecurity. Recognising AI’s revolutionary capacity, they investigate its potential to improve defence capabilities, predict future threats, and secure vital infrastructure. Furthermore, the G7 countries emphasise the necessity of international collaboration in reaping the advantages of AI while reducing the hazards. They recognise that cyber dangers transcend national borders and must be combated together. Collaboration in areas such as exchanging threat intelligence, developing shared standards, and promoting best practices is emphasised to boost global cybersecurity defences. The G7 conference hopes to set a global agenda that encourages responsible AI research and deployment by emphasising the role of AI in cybersecurity. The summit’s sessions present a path for maximising AI’s promise while tackling the problems and dangers connected with its implementation.

As the G7 countries traverse the complicated convergence of AI and cybersecurity, their emphasis on collaboration, responsible practices, and innovation lays the groundwork for international collaboration in confronting growing cyber threats. The G7 countries aspire to establish robust and secure digital environments that defend essential infrastructure, protect individuals’ privacy, and encourage trust in the digital sphere by collaboratively leveraging the potential of AI.

Promoting Responsible Al development and usage

The G7 conference will focus on developing frameworks that encourage ethical AI development. This includes fostering openness, accountability, and justice in AI systems. The emphasis is on eliminating biases in data and algorithms and ensuring that AI technologies are inclusive and do not perpetuate or magnify existing societal imbalances.

Furthermore, the G7 nations recognise the necessity of privacy protection in the context of AI. Because AI systems frequently rely on massive volumes of personal data, summit speakers emphasise the importance of stringent data privacy legislation and protections. Discussions centre around finding the correct balance between using data for AI innovation, respecting individuals’ privacy rights, and protecting data security. In addition to responsible development, the G7 meeting emphasises the importance of responsible AI use. Leaders emphasise the importance of transparent and responsible AI governance frameworks, which may include regulatory measures and standards to ensure AI technology’s ethical and legal application. The goal is to defend individuals’ rights, limit the potential exploitation of AI, and retain public trust in AI-driven solutions.

The G7 nations support collaboration among governments, businesses, academia, and civil society to foster responsible AI development and use. They stress the significance of sharing best practices, exchanging information, and developing international standards to promote ethical AI concepts and responsible practices across boundaries. The G7 nations hope to build the global AI environment in a way that prioritises human values, protects individual rights, and develops trust in AI technology by fostering responsible AI development and usage. They work together to guarantee that AI is a force for a good while reducing risks and resolving social issues related to its implementation.

Challenges on the way

During the summit, the nations, while the G7 countries are committed to combating cybercrime and developing responsible AI development, they confront several hurdles in their efforts. Some of them are:

A Rapidly Changing Cyber Threat Environment: Cybercriminals’ strategies and methods are always developing, as is the nature of cyber threats. The G7 countries must keep up with new threats and ensure their cybersecurity safeguards remain effective and adaptable.

Cross-Border Coordination: Cybercrime knows no borders, and successful cybersecurity necessitates international collaboration. On the other hand, coordinating activities among nations with various legal structures, regulatory environments, and agendas can be difficult. Harmonising rules, exchanging information, and developing confidence across states are crucial for effective collaboration.

Talent Shortage and Skills Gap: The field of cybersecurity and AI knowledge necessitates highly qualified personnel. However, skilled individuals in these fields need more supply. The G7 nations must attract and nurture people, provide training programs, and support research and innovation to narrow the skills gap.

Keeping Up with Technological Advancements: Technology changes at a rapid rate, and cyber-attacks become more complex. The G7 nations must ensure that their laws, legislation, and cybersecurity plans stay relevant and adaptive to keep up with future technologies such as AI, quantum computing, and IoT, which may both empower and challenge cybersecurity efforts.

Conclusion

To combat cyber threats effectively, support responsible AI development, and establish a robust cybersecurity ecosystem, the G7 nations must constantly analyse and adjust their strategy. By aggressively tackling these concerns, the G7 nations can improve their collective cybersecurity capabilities and defend their citizens’ and global stakeholders’ digital infrastructure and interests.

Introduction

In 2019 India got its bill on Data protection in the form of the Personal Data Protection Bill 2019. This bill focused on digital rights and duties pertaining to data privacy. However, the bill was scrapped by the Govt in mid-2022, and a new bill was drafted, Successor bill was introduced as the Digital Personal Data Protection Bill, 2022 on 18th November 2022, which was made open for public comments and consultations and now the bill is expected to be tabled at the parliament in the Monsoon session.

What is DPDP, 2022?

Digital Personal Data Protection Bill, is the lasted draft regulation for data privacy in India. The bill has been essentially focused towards data protection by companies and the keep aspect of Puttaswamy judgement of data privacy as a fundamental right has been upheld under the scope of the bill. The bill comes after nearly 150 recommendations which the parliamentary committee made when the PDP, 2019 was scrapped.

The bill highlights the following keen aspects-

• Data Fiduciary- The entity (an individual, company, firm, state, etc.) which decides the purpose and means of processing an individual’s personal data.
• Data Principle- The individual to whom personal data is related.
• Processing- The entire cycle of operations that can be carried out concerning personal data.
• Gender Neutrality- For the first time in India’s legislative history, “her” and “she” have been used to refer to individuals irrespective of gender.
• Right to Erase Data- Data principals will have the right to demand the erasure and correction of data collected by the data fiduciary.
• Cross-border data transfer- The bill allows cross-border data after an assessment of relevant factors by the Central Government.
• Children’s Rights- The bill guarantees the right to digital privacy under the protection of parents/guardians.
• Heavy Penalties- The bill enforces heavy penalties for non-compliance with the provisions, not exceeding Rs 500 crore.

Data Protection Board

The bill lays down provisions for setting up a Data Protection Board. This board will be an independent body acting solely on the factors of data privacy and protection of the data principles and maintaining compliance by data fiduciaries. The board will be headed by a chairperson of essential and relevant qualifications, and members and various other officials shall assist him/her under the board. The board will serve grievance redressal to the data principles and can conduct investigation, inquiry, proceeding, and pass orders equivalent to a Civil court. The proceeding will be undertaken on the principle of natural justice, and the aggrieved can file an appeal to the High Court of appropriate jurisdiction.

Global Comparison

Many countries have data protection laws that regulate the processing of personal data. Some of the notable examples include:

• European Union: The EU’s General Data Protection Regulation (GDPR) is one of the world’s most comprehensive data protection laws. It regulates public and private entities’ processing of personal data and gives individuals a wide range of rights over their personal data.
• United States: The US has several data protection laws that apply to specific sectors or types of data, such as health data (HIPAA) or financial data (Gramm-Leach-Bliley Act). However, there is no comprehensive federal data protection law in the US.
• Japan: Japan’s Personal Information Protection Act (PIPA) regulates the handling of personal data by private entities and gives individuals certain rights over their personal data.
• Australia: Australia’s Privacy Act 1988 regulates the handling of personal data by public and private entities and gives individuals certain rights over their personal data.
• Brazil: Brazil’s General Data Protection Law (LGPD) regulates the processing of personal data by public and private entities and gives individuals certain rights over their personal data. It also imposes heavy fines and penalties on entities that violate the provisions of the law.

Overall, while there are some similarities in data protection laws across countries, there are also significant differences in scope, applicability, and enforcement. It is important for organisations to understand the data protection laws that apply to their operations and take appropriate steps to comply with these laws.

Parliamentary Asscent

The case of violation of the privacy policy by WhatsApp at the Hon’ble Supreme Court resulted in a significant advocacy for Data privacy as a fundamental right, and it was held that, as suggested otherwise in the privacy policy, Whatsapp was sharing its user’s data with Meta. This massive breach of trust could have led to data mismanagement affecting thousands of Indian users. The Hon’ble Supreme Court has taken due consideration of data privacy and its challenges in India and asked the Govt to table the bill in Parliament. The bill will be tabled for discussion in the monsoon session. The Supreme Court has set up a constitutional bench to check the bill’s scope, extent and applications and provide its judicial oversight.  The constitution bench of Justices KM Joseph, Ajay Rastogi, Aniruddha Bose, Hrishikesh Roy and CT Ravikumar has fixed the matter for hearing in August in order to enforce the potential changes and amendments in the act post the parliamentary discussion.

Conclusion

India is the world’s largest democracy, so the crucial aspects of passing laws and amendments have always been followed by the government and kept under check by the judiciary. The discussion over bills is a crucial part of the democratic process, and bills as important as Digital Personal Data Protection need to be discussed and analysed thoroughly in both houses of Parliament to ensure the govt passes a sustainable and efficient law.