#FactCheck - Uncovered: Viral LA Wildfire Video is a Shocking AI-Generated Fake!

March 3rd 2023, New Delhi: If you have received any message that contains a link asking users to download an application to avail Income Tax Refund or KYC benefits with the name of Income Tax Department or reputed Banks, Beware!

CyberPeace Foundation and Autobot Infosec Private Limited along with the academic partners under CyberPeace Center of Excellence (CCoE) recently conducted five different studies on phishing campaigns that have been circulating on the internet by using misleading tactics to convince users to install malicious applications on their devices. The first campaign impersonates the Income Tax Department, while the rest of the campaigns impersonate ICICI Bank, State Bank of India, IDFC Bank and Axis bank respectively. The phishing campaigns aim to trick users into divulging their personal and financial information.

After a detailed study, the research team found that:

• All campaigns appear to be an offer from reputed entities, however hosted on third-party domains instead of the official website of the Income Tax Department or the respective Banks, raising suspicion.
• The applications ask several access permissions of the device. Moreover some of them seek users to provide full control of the device. Allowing such access permission could result in a complete compromise of the system, including access to sensitive information such as microphone recordings, camera footage, text messages, contacts, pictures, videos, and even banking applications.
• Cybercriminals created malicious applications using icons that closely resemble those of legitimate entities with the intention of enticing users into downloading the malicious applications.
• The applications collect user’s personal and banking information. Getting into this type of trap could lead users to face significant financial losses.
• While investigating the impersonated Income Tax Department’s application, the Research team identified the application sends http traffic to a remote server which acts as a Command and Control (CnC/C2) for the application.
• Customers who desire to avail benefits or refunds from respective banks, download relevant apps, believing that the chosen app will assist them. However, they are not always aware that the app may be fraudulent.

“The Research highlights the importance of being vigilant while browsing the internet and not falling prey to such phishing attacks. It is crucial to be cautious when clicking on links or downloading attachments from unknown sources, as they may contain malware that can harm the device or compromise the data.” spokesperson, CyberPeace added.

In addition to this in an earlier report released in last month, the same research team had drawn attention to the WhatsApp messages masquerading as an offer from Tanishq Jewellers with links luring unsuspecting users with the promise of free valentine’s day  presents making the rounds on the app.

CyberPeace Advisory:

• The Research team recommends that people should avoid opening such messages sent via social platforms. One must always think before clicking on such links, or downloading any attachments from unauthorised sources.
• Downloading any application from any third party sources instead of the official app store should be avoided. This will greatly reduce the risk of downloading a malicious app, as official app stores have strict guidelines for app developers and review each app before it gets published on the store.
• Even if you download the application from an authorised source, check the app’s permissions before you install it. Some malicious apps may request access to sensitive information or resources on your device. If an app is asking for too many permissions, it’s best to avoid it.
• Keep your device and the app-store app up to date. This will ensure that you have the latest security updates and bug fixes.
• Falling into such a trap could result in a complete compromise of the system, including access to sensitive information such as microphone recordings, camera footage, text messages, contacts, pictures, videos, and even banking applications and could lead users to financial loss.
• Do not share confidential details like credentials, banking information with such types of Phishing scams.
• Never share or forward fake messages containing links on any social platform without proper verification.

Source : https://www.aninews.in/news/business/business/alert-cybercriminals-target-taxpayers-and-banking-customers-with-phishing-campaign-and-malicious-application20230303182938/

Introduction

The increase in consumer demands has resulted in a sharp increase in digital financing in India. As a result, the reputation of the digital lending sector has been impacted, as bad actors increasingly deploy illicit lending platforms such as fraudulent loans and trading apps. As millions of Indians download fast loan applications to help them meet their financial ends, the fraudulent apps result in cyber crimes including financial fraud. Consumers need to be vigilant of dubious trading or loan applications as bad actors frequently use illegitimate apps to trick victims by advertising limited-period offers and applying pressure.

Recently the Indian Cyber Crime Coordination Centre (I4C) led handel CyberDost has issued a cybercrime alert against the ‘CashExpand-U’ finance assistant app, which has been now removed from the Google Play Store. The app was found to be associated with hostile foreign entities, and the app had made it easier to raise small loans. However, such loan apps are seldom credible and may compromise financial information. 

Raising cases of Fraudulent Loan Apps

The finance minister had stated that the government is constantly engaged with the Reserve Bank of India and other regulators and stakeholders to control fraudulent loan apps. In FY23, there were 1,062 complaints against such apps, the Finance Minister shared during a Lok Sabha session. Google removed almost 134 fake apps from the Play Store in a single week in September 2023 after multiple complaints were registered against such apps. The Reserve Bank of India (RBI) had also issued regulatory guidelines on digital lending in April 2023 to bring transparency in the digital loan space. 

CyberPeace Policy Wing Advisory for Users

1. Be cautious of App Permissions 

Fake lending apps collect data by fraudulently taking numerous app permissions from consumers and misusing them later. The users must effectively manage their app permissions to avoid denying any extra permissions such as access to contacts, location, and photos. This is because fraudulent digital lenders access users' personal data to extort additional money even after loan repayment.

2. Practice Due Diligence 

Consumers must exercise care & caution before applying for a loan from digital lending platforms.  Before applying for a loan or downloading any such apps, consumers must conduct due diligence by verifying the app's name, rating, reviews, physical address, and contact information. Always double-verify the paperwork before signing any agreement or contract. Always apply for loans from RBI-approved and compliant banking and financial services providers.

3. Download from Official Sources 

To avoid downloading counterfeit apps, only download lending apps from official stores like Google Play Store or Apple App Store, and avoid downloading apps from web links sent via SMS, email, or social media, even if shared by your known persons.

4. Be sceptical of too-good-to-be-true offerings

Be cautious of deals that seem too good to be true, like hassle-free easy loans as they can be fraudulent. If an offer seems too good to be true, it might be a red flag. Hence always conduct your own research to verify the lender and avoid making hasty decisions.

5. Reporting Mechanism

In case of facing a scam by such fraudulent apps, victims can file a complaint with the ‘National Cyber Crime Reporting Portal’ or Cyber Crime Helpline ‘1930’, or they can also contact us at CyberPeace Helpline +919570000066 and helpline@cyberpeace.net to get assistance in reporting their cases. 

Final Words

Illegitimate loan/trading apps have been raising concerns by defrauding innocent consumers who seek financial assistance. The Center has recently warned against the CashExpand-U app, which has been now removed from the Google Play Store. Users are advised to exercise due care and caution while downloading loan apps and applying for loans to prevent any potential scams. keep up to date with news from concerned authorities about common scams and fraudulent practices in the lending space and stay safe in the online world.

References:

• https://www.livemint.com/news/beware-govt-issues-cybercrime-alert-against-loan-app-cashexpand-u-finance-assistant-11720338996430.html
• https://timesofindia.indiatimes.com/technology/tech-news/government-has-issued-an-important-warning-for-this-loan-app/articleshow/111541577.cms

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Introduction

The scam involving "drugs in parcels' has resurfaced again with a new face. Cybercriminals impersonating and acting as FedEx, Police and various other authorities and in actuality, they are the perpetrators or bad actors behind the renewed "drugs in parcel" scam, which entails pressuring victims into sending money and divulging private information in order to escape fictitious legal repercussions. 

Modus operandi  

The modus operandi followed in this scam usually begins with a hacker calling someone on their cell phone posing as FedEx. They say that they are the recipients of a package under their name that includes illegal goods like jewellery, narcotics, or other items. The victim would feel afraid and apprehensive by now. Then there will be a video call with someone else who is posing as a police officer. The victim will be asked to keep the matter confidential while it is being investigated by this "fake officer."

After the call, they would get falsified paperwork from the CBI and RBI stating that an arrest warrant had been issued. Once the victim has fallen entirely under their sway, they would claim that the victim's Aadhaar has been used to carry out the unlawful conduct. They then request that the victim submit their bank account information and Aadhaar data for investigation. Subsequently, the hackers request that the victim transfer funds to a bank account for RBI validation. The victims thus submit money to the hackers believing it to be true for clearing their name.

Recent incidence:

In the most recent instance of a "drug-in-parcel" scam, an IT expert in Pune was defrauded of Rs 27.9 lakh by internet con artists acting as members of the Mumbai police's Cyber Crime Cell. The victim filed the First Information Report (FIR) in this matter at the police station. The victim stated that on November 11, 2023, the complainant received a call from a fraudster posing as a Mumbai police Cyber Crime Cell officer. The scammer falsely claimed to have discovered illegal narcotics in a package addressed to the complainant sent from Mumbai to Taiwan, along with an expired passport and an SBI card. To avoid arrest in a fabricated drug case, the fraudster coerced the complainant into providing bank account information under the guise of "verification." The victim, fearing legal consequences, transferred Rs 27,98,776 in ten online transactions to two separate bank accounts as instructed. Upon realizing the deception, the complainant reported the incident to the police, leading to an investigation.

In another such incident, the victim received an online bogus identity card from the scammers who had phoned him on the phone in October 2023. In an attempt to "clear the case" and issue a "no-objection certificate (NOC)," the fraudster persuaded the victim to wire money to a bank account, claiming to have seized narcotics in a shipment shipped from Mumbai to Thailand under his name. Fraudsters threatened to arrest the victim for mailing the narcotics package if money was not provided. 

Furthermore, In August 2023, fraudsters acting as police officers and executives of courier companies defrauded a 25-year-old advertising student of Rs 53 lakh. They extorted money from her under the guise of avoiding legal action, which would include arrest, and informed her that narcotics had been discovered in a package she had delivered to Taiwan. According to the police, callers acting as police officers threatened to arrest the girl and forced her to complete up to 34 transactions totalling Rs 53.63 lakh from her and her mother's bank accounts to different bank accounts.

Measures to protect oneself from such scams

Call Verification: 

• Be sure to always confirm the legitimacy of unexpected calls, particularly those purporting to be from law enforcement or delivery services. Make use of official contact information obtained from reliable sources to confirm the information presented.

Confidentiality:

• Use caution while disclosing personal information online or over the phone, particularly Aadhaar and bank account information. In general, legitimate authorities don't ask for private information in this way.

Official Documentation: 

• Request official documents via the appropriate means. Make sure that any documents—such as arrest warrants or other government documents—are authentic by getting in touch with the relevant authorities.

No Haste in Transactions: 

• Proceed with caution when responding hastily to requests for money or quick fixes. Creating a sense of urgency is a common tactic used by scammers to coerce victims into acting quickly.

Knowledge and Awareness: 

• Remain up to date on common fraud schemes and frauds. Keep up with the most recent strategies employed by online fraudsters to prevent falling for fresh scam iterations.

Report Suspicious Activity: 

• Notify the local police or other appropriate authorities of any suspicious calls or activities. Reports received in a timely manner can help investigations and shield others from falling for the same fraud.

2fA:

• Enable two-factor authentication (2FA) wherever you can to provide online accounts and transactions an additional degree of protection. This may lessen the chance of unwanted access.

Cybersecurity Software: 

• To defend against malware, phishing attempts, and other online risks, install and update reputable antivirus and anti-malware software on a regular basis.

Educate Friends and Family:

• Inform friends and family about typical scams and how to avoid falling victim to fraud. A safer online environment can be achieved through increased collective knowledge.

Be skeptical

• Whenever anything looks strange or too good to be true, it most often is. Trust your instincts. Prior to acting, follow your gut and confirm the information.

By taking these precautions and exercising caution, people may lessen their vulnerability to scams and safeguard their money and personal data from online fraudsters.

Conclusion:

Verifying calls, maintaining secrecy, checking official papers, transacting cautiously, and keeping up to date are all examples of protective measures for protecting ourselves from such scams. Using cybersecurity software, turning on two-factor authentication, and reporting suspicious activity are essential in stopping these types of frauds. Raising awareness and working together are essential to making the internet a safer place and resisting the activities of cybercriminals.

 References:

• https://indianexpress.com/article/cities/pune/pune-cybercrime-drug-in-parcel-cyber-scam-it-duping-9058298/#:~:text=In%20August%20this%20year%2C%20a,avoiding%20legal%20action%20including%20arrest.
• https://www.the420.in/pune-it-professional-duped-of-rs-27-9-lakh-in-drug-in-parcel-scam/
• https://www.newindianexpress.com/states/tamil-nadu/2023/oct/16/the-return-of-drugs-in-parcel-scam-2624323.html
• https://timesofindia.indiatimes.com/city/hyderabad/2-techies-fall-prey-to-drug-parcel-scam/articleshow/102786234.cms