#FactCheck -Viral Claim About Air India Cancelling All International Flights Until July Is False

Disclaimer:

The information is based on claims made by threat actors and does not imply confirmation of the breach, by CyberPeace. CyberPeace includes this detail solely to provide factual transparency and does not condone any unlawful activities. This information is shared only for research purposes and to spread awareness. CyberPeace encourages individuals and organizations to adopt proactive cybersecurity measures to protect against potential threats.

🚨 Data Breach Alert ⚠️: 

Recently The Research Wing of CyberPeace and Autobot Infosec have come across a claim on a threat actor’s dark web website alleging a data breach involving 637k+ records from Federal Bank. According to the threat actor’s claim, the data allegedly includes sensitive details such as-

• 🧑‍Customer Name
• 🆔Customer ID
• 🏠 Customer Address
• 🎂 Date of Birth
• 🔢 Age
• 🚻 Gender
• 📞Mobile Number
• 🪪 PAN Number
• 🚘 Driving License Number
• 🛂 Passport Number
• 🔑 UID Number
• 🗳️ Voter ID Information

The alleged data was initially discovered on a dark web website, where the threat actors allegedly claimed to be offering the breached information for sale. Following their announcement of the breach, a portion of the data was reportedly published on December 27, 2024. A few days later, the full dataset was allegedly released on the same forum.

About the Threat Actor Group:

Bashe, a ransomware group that emerged in 2024, is claimed to have evolved from the LockBit ransomware group, previously operating under the names APT73 and Eraleig. The group employs data encryption combined with extortion tactics, threatening to release sensitive information if ransom demands are unmet. Their operations primarily target critical industries, including technology, healthcare, and finance, demonstrating a strategic focus on high-value sectors.

Breakdown of the Alleged Post by the Threat Actor:

• Target: Allegedly involves Customer’s Data of Federal Bank.
• Data Volume: Claimed breach includes 637,894 records.
• Data Fields: Threat actor claims the data contains sensitive information, including Customer name, Customer ID, Date of Birth, PAN Number, Age, Gender, Father Name, Spouse Name, Driving Licence, Passport Number, UID Number, Voter ID, District, Zip Code, Home Address, Mailing Address, State etc.

Analysis:

The analysis of the alleged data breach highlights the states purportedly most impacted, along with insights into the affected age groups, gender distribution, and other key insights associated with the compromised data. This evaluation aims to provide a clearer understanding of the claimed breach's scope and its potential demographic and geographic impact.

Top States Impacted: 

As per the alleged breached data, Tamil Nadu has the highest number of affected customers, accounting for a significant 34.49% of the total breach. Karnataka follows closely with 26.89%, indicating a substantial number of individuals affected in the state. In contrast states such as Uttar Pradesh, Haryana, Delhi, and Rajasthan report minimal impact, with each state having less than 1% of affected customers. Gujarat records 3.70% of the breach, with a sharp drop in affected numbers from other states, highlighting a significant disparity in the extent of the breach across regions.

Impacted Age Range Statistics:

The alleged data breach has predominantly impacted customers in the 31-40 years age group, which constitutes the largest segment at 35.80% of the affected individuals. Following this, the 21-30 years age group also shows significant impact, comprising 27.72% of those affected. The 41-50 years age group accounts for 20.55% of the impacted population, while individuals aged 50 and above represent 12.68%. In contrast, the 0-20 years age group is the least affected, with only 3.24% of customers falling into this category.

Gender Wise Statistics:

The alleged data breach has predominantly impacted male customers, who constitute the majority at 74.05% of the affected individuals. Female customers account for 23.18%, while a smaller segment, categorized as "Others," constitutes 2.77%.

The alleged dataset from the threat actors indicated that a significant portion of customers' personal identification data was compromised. This includes sensitive information such as driving licenses, passport numbers, UID numbers, voter IDs, and PAN numbers.

Significance of the Allegations:

Though the claims have not been independently verified at our end it underscores the rising risks of cyberattacks and data breaches, especially in the financial and banking sectors. If true, the exposure of such sensitive information could lead to financial fraud, identity theft, and severe reputational damage for individuals and organizations alike.

CyberPeace Advisory:

CyberPeace emphasizes the importance of vigilance and proactive measures to address cybersecurity risks:

• Monitor Your Accounts: Keep a close eye on financial and email accounts for any suspicious activity.
• Update Passwords: Change your passwords immediately and enable Multi Factor Authentication(MFA) wherever possible.
• Beware of Phishing Attacks: Threat actors may exploit the leaked data to craft targeted phishing scams. Do not click on unsolicited links or share sensitive details over email or phone.
• For Organizations: Strengthen data protection mechanisms, regularly audit security infrastructure, and respond swiftly to emerging threats.
• Report: For more assistance or to report cyber incidents, visit https://cybercrime.gov.in or contact our helpline team at helpline@cyberpeace.net.

We advise affected parties and the broader public to stay alert and take necessary precautions. CyberPeace remains committed to raising awareness about cybersecurity threats and advocating for better protection mechanisms. We urge all stakeholders to investigate the claims and ensure appropriate steps are taken to protect the impacted data, if the breach is confirmed. Our Research Wing is actively observing the situation and we aim to collaborate with the stakeholders and relevant agencies to mitigate the impact.

Stay Vigilant! Stay CyberPeaceful.

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Introduction

In the multifaceted world of international trade and finance, cross-border transactions constitute the heart of economic relationships that span the globe. The threads that intertwine forming the fabric of global commerce are ceaselessly dynamic and exhibit an intricate pattern of complexity especially when it comes to the regulated movement of capital. It's a domain where economies connect, where businesses engage in sublime commerce, and where technology and regulation intersect at critical juncture. These guidelines will play a critical role in the regulation of capital, fortification of financial integrity, and transparency of regulatory and cross-border payments. The key highlights of this regulation include strict pre-authorization for non-bank entities, mandating specific accounts for import and export PA-CBs and a transaction ceiling of 25,00,000 Rupees.

The Vigilance of RBI 

The Reserve Bank of India (RBI), ever vigilant in its shepherding role over the nation's financial stability and integrity, has taken decisive strides to dispel the haze that once clouded this critical sector. With the issuance of a revelatory circular dated October 31, 2023, the RBI has unveiled a groundbreaking framework that redefines the terrain for these pivotal financial entities, aptly christened as Payment Aggregators – Cross Border (PA-CB). In deploying this comprehensive array of regulations, the RBI demonstrates a robust commitment to harmonizing and synchronizing the oversight of payments within the country's financial fabric, extending its meticulous regulatory weave from domestic Payment Aggregators (PAs) to the PA-CBs, a sector previously undistinguished in formal oversight.

The prescriptive measures announced by the RBI are nothing short of a regulatory beacon that cuts through the fog of uncertainty, illuminating a clear path forward for entities dedicated to facilitating cross-border payment transactions pertaining to the import and export of permissible goods and services in India through online modes. Inclusiveness is a hallmark of the RBI’s directive, encompassing a diverse cadre of financial actors, ranging from Authorized Dealer (AD) banks and conventional Payment Aggregators (PAs), to the emergent breed of PA-CBs actively engaged in processing these critical international payment transactions.

Key Aspects of Regulation

One of the most striking aspects of this new regulatory regime is the RBI's insistence on pre-authorization. All non-bank entities providing PA-CB services are impelled to apply to the apex bank for authorisation by April 30, 2024. This is far from a perfunctory gesture; it represents a profound departure from the bygone era when these entities functioned under a patchwork of provisional guidelines and ad-hoc circulars. Indeed, with this resolute move, the RBI signals its intention to embrace these entities within its direct regulatory gambit, an acknowledgement of the shifting tides and progressive intricacies characteristic of cross-border payments.

The tapestry of new rules is complex, setting forth an array of prerequisites for entities aspiring for authorization. For instance, non-bank PA-CBs are obliged to register with the Financial Intelligence Unit-India (FIU-IND) as a preliminary step before commencing the application process. Moreover, the financial benchmarks set are notably rigorous. Non-banks must boast a minimum net worth of ₹15 crores at the time of the application—a figure that escalates to a robust ₹25 crores by the fiscal deadline of March 31, 2026.

Way Forward

As if these requirements weren't indicative enough of the RBI’s penchant for detail and precision, the guidelines become yet more granular when addressing specific types of PA-CBs. Import-only PA-CBs are mandatorily obliged to maintain an Import Collection Account (ICA) with an AD Category-I scheduled commercial bank, while export-only PA-CBs are instructed to maintain an Export Collection Account (ECA), which can be maintained in Indian Rupees (INR) or any permissible foreign currency. The nuance here is palpable; payments for import transactions must be received in a meticulously managed escrow account of the PA, prior to being funneled into the ICA for smooth settlement with overseas merchants.

Conversely, export-only PA-CBs' proceeds from international sales must be swiftly credited to the relevant currency ECA. This meticulous accounting ensures that the flow of funds is both transparent and traceable, adhering to the utmost standards of financial probity.

Yet, perhaps the most emphatic of the RBI's pronouncements is the establishment of a transaction ceiling. PA-CBs have their per-transaction limit capped at ₹25,00,000 for each unit of goods or services exchanged. This calculated move is transparent in its objective to mitigate risk—a crucial aspect when one considers the potential implications of these transactions on the country’s fiscal health and the integrity of its financial systems.

It is no exaggeration to declare that with these guidelines, the RBI is effectuating a seismic shift in the regulation of cross-border payment transactions. There's a fundamental transformation taking place—a metamorphosis—from a loosely defined existence of PA-CBs to one of distinct clarity, under the direct and unswerving supervisory gaze of the regulator. The compliance burden, indeed, has become heavier, yet the return is a compass that points decisively towards secure harbours.

As we embark upon the fresh horizons that these rules bring into view, it is imperative to acknowledge that the RBI's regulatory innovations represent far more than a mere codification of dos and don'ts. They embody a visionary stride towards safeguarding and fortifying the architecture of international payments, a critical component of India's burgeoning presence on the world economic stage.

Conclusion 

The journey ahead, as we navigate these newly charted waters with the RBI's guidelines as our steadfast North Star, will no doubt be replete with challenges, adaptations and learning curves for the array of operational entities. But it is with confidence we can say, the path is set; the map is clear. The complex labyrinth of cross-border financial transactions is now demystified, and the RBI's clarion call beckons us towards a future marked by regulation, security, and above all else, reliability in the cosmopolitan tapestry of global trade. RBI’s guidelines provide a comprehensive framework for standardizing cross-border financial transactions in India. This decision is a monumental step towards maintaining cyber peace in cyberspace. 

References:

• https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12561&Mode=0
• https://www2.deloitte.com/in/en/pages/tax/articles/tax-alert-Regulation-of-payment-aggregator-cross-border-pa-cb.html
• https://www.jsalaw.com/newsletters-and-updates/rbis-new-guidelines-to-govern-payment-aggregators-in-cross-border-transactions/ 

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Incident Overview

Earlier this week, the Chinese media reported that several ‘Macau’ government websites were hacked, indicating a significant targeted cyberattack. The hacked website includes those of the office of the Secretary for Security, the public security police, the fire services department and the Security Forces Services Bureau. It was reported that the police have launched a criminal investigation to trace the source of the crime. Furthermore, officials believe the source of the intrusion was likely from overseas, and authorities have carried out an emergency response in conjunction with telecommunication operators to restore affected services on a priority basis. The densely populated Macau is a special administrative region on the south coast of China and the cyber attacks on the essential government website of China raise a serious concern. 

Response and Mitigation

Macau's authorities carried out an emergency response in collaboration with telecommunication operators to restore regular services as a distributed denial-of-service attack (DDoS) was reported to be carried out on certain government websites which resulted in the inactivity of those several websites. The country's security forces instructed Macau Telecom to investigate the incident and submit a report and improvement plan to prevent similar attacks in the future.

Context and Implications

The hack on the government websites of Macau is not a single incident; rather, it is a part of an increasing pattern of cyberattacks on the region's vital infrastructure. According to a recent report, the frequency of cybercrimes has tripled since 2020, targeting Macau's critical infrastructure, which is worrying. This pattern draws attention to the growing threats that public sector organisations and governments throughout the world confront.

Final Words 

In light of such sophisticated attacks targeting vital infrastructure or critical government operations, it is imperative that the country ensure powerful cybersecurity strategies and measures. Implementing robust cybersecurity measures, developing incident response planning, regular security checks, employee training on cyber hygiene, public awareness and capacity building and international collaboration to jointly develop and plan counteract strategies is a crucial step to build safeguards against such cyber threats.

The incident of a cyberattack on the government websites of Macau serves stark reminder of the evolving threats and cybersecurity challenges, it is a serious concern when critical government websites are compromised by malicious actors. It highlights the necessity for continuous vigilance and cybersecurity measures in place to counter such cyber attacks. A comprehensive approach to cybersecurity, the government can enhance their overall cybersecurity posture, establish resilience against such threats in future, and save the functionality of essential government websites. 

References:

1. https://macaudailytimes.com.mo/websites-of-office-of-the-secretary-for-security-targeted-in-a-cyber-attack.html
2. https://www.reuters.com/world/china/several-macau-government-websites-hacked-says-chinese-state-media-2024-07-11/
3. https://4imag.com/several-macau-government-websites-hacked-says-chinese-state-media/
4. https://www.aol.com/news/several-macau-government-websites-hacked-001435511.htmlhttps://therecord.media/macau-government-websites-hit-with-cyberattack
5. https://macaonews.org/news/city/macau-cyberattacks-cyber-security-attacks-macao/

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