Meta Police & Paytm Fraud Cover
Introduction
Meta is the leader in social media platforms and has been successful in having a widespread network of users and services across global cyberspace. The corporate house has been responsible for revolutionizing messaging and connectivity since 2004. The platform has brought people closer together in terms of connectivity, however, being one of the most popular platforms is an issue as well. Popular platforms are mostly used by cyber criminals to gain unauthorised data or create chatrooms to maintain anonymity and prevent tracking. These bad actors often operate under fake names or accounts so that they are not caught. The platforms like Facebook and Instagram have been often in the headlines as portals where cybercriminals were operating and committing crimes.
To keep the data of the netizen safe and secure Paytm under first of its kind service is offering customers protection against cyber fraud through an insurance policy available for fraudulent mobile transactions up to Rs 10,000 for a premium of Rs 30. The cover ‘Paytm Payment Protect’ is provided through a group insurance policy issued by HDFC Ergo. The company said that the plan is being offered to increase the trust in digital payments, which will push up adoption.
Meta’s Cybersecurity
Meta has one of the best cyber security in the world but that diest mean that it cannot be breached. The social media giant is the most vulnerable platform in cases of data breaches as various third parties are also involved. As seen the in the case of Cambridge Analytica, a huge chunk of user data was available to influence the users in terms of elections. Meta needs to be ahead of the curve to have a safe and secure platform, for this Meta has deployed various AI and ML driven crawlers and software which work o keeping the platform safe for its users and simultaneously figure out which accounts may be used by bad actors and further removes the criminal accounts. The same is also supported by the keen participation of the user in terms of the reporting mechanism. Meta-Cyber provides visibility of all OT activities, observes continuously the PLC and SCADA for changes and configuration, and checks the authorization and its levels. Meta is also running various penetration and bug bounty programs to reduce vulnerabilities in their systems and applications, these testers are paid heavily depending upon the scope of the vulnerability they found.
CyberRoot Risk Investigation
Social media giant Meta has taken down over 40 accounts operated by an Indian firm CyberRoot Risk Analysis, allegedly involved in hack-for-hire services along with this Meta has taken down 900 fraudulently run accounts, these accounts are said to be operated from China by an unknown entity. CyberRoot Risk Analysis was responsible for sharing malware over the platform and used it to impersonate themselves just as their targets, i.e lawyers, doctors, entrepreneurs, and industries like – cosmetic surgery, real estate, investment firms, pharmaceutical, private equity firms, and environmental and anti-corruption activists. They would get in touch with such personalities and then share malware hidden in files which would often lead to data breaches subsequently leading to different types of cybercrimes.
Meta and its team is working tirelessly to eradicate the influence of such bad actors from their platforms, use of AI and Ml based tools have increased exponentially.
Paytm CyberFraud Cover
Paytm is offering customers protection against cyber fraud through an insurance policy available for fraudulent mobile transactions up to Rs 10,000 for a premium of Rs 30. The cover ‘Paytm Payment Protect’ is provided through a group insurance policy issued by HDFC Ergo. The company said that the plan is being offered to increase the trust in digital payments, which will push up adoption. The insurance cover protects transactions made through UPI across all apps and wallets. The insurance coverage has been obtained by One97 Communications, which operates under the Paytm brand.
The exponential increase in the use of digital payments during the pandemic has made more people susceptible to cyber fraud. While UPI has all the digital safeguards in place, most UPI-related frauds are undertaken by confidence tricksters who get their victims to authorise a transaction by passing collect requests as payments. There are also many fraudsters collecting payments by pretending to be merchants. These types of frauds have resulted in a loss of more than Rs 63 crores in the previous financial year. The issue of data insurance is new to India but is indeed the need of the hour, majority of netizens are unaware of the value of their data and hence remain ignorant towards data protection, such steps will result in safer data management and protection mechanisms, thus safeguarding the Indian cyberspace.
Conclusion
cyberspace is at a critical juncture in terms of data protection and privacy, with new legislation coming out on the same we can expect new and stronger policies to prevent cybercrimes and cyber-attacks. The efforts by tech giants like Meta need to gain more speed in terms of the efficiency of cyber safety of the platform and the user to make sure that the future of the platforms remains secured strongly. The concept of data insurance needs to be shared with netizens to increase awareness about the subject. The initiative by Paytm will be a monumental initiative as this will encourage more platforms and banks to commit towards coverage for cyber crimes. With the increasing cases of cybercrimes, such financial coverage has come as a light of hope and security for the netizens.
Related Blogs
Introduction
You must have heard of several techniques of cybercrime up to this point. Many of which we could never have anticipated. Some of these reports are coming from different parts of the country. Where video calls are being utilised to cheat. Through video calls, cybercriminals are making individuals victims of fraud. During this incident, fraudsters film pornographic recordings of both the victims using a screen recorder, then blackmail them by emailing these videos and demanding money. However, cybercriminals are improving their strategies to defraud more people. In this blog post, we will explore the tactics involved in this case, the psychological impact, and ways to combat it. Before we know more about the case, let’s have a look at deep fake, AI, and Sextortion and how fraudsters use technology to commit crimes.
Understanding Deepfake
Deepfake technology is the manipulation or fabrication of multimedia information such as videos, photos, or audio recordings using artificial intelligence (AI) algorithms, and profound learning models. These algorithms process massive quantities of data to learn and imitate human-like behaviour, allowing for very realistic synthetic media development.
Individuals with malicious intent may change facial expressions, bodily movements, and even voices in recordings using deepfake technology, basically replacing a person’s appearance with someone else’s. The produced film can be practically indistinguishable from authentic footage, making it difficult for viewers to distinguish between the two.
Sextortion and technology
Sextortion is a sort of internet blackmail in which offenders use graphic or compromising content to compel others into offering money, sexual favours, or other concessions. This information is usually gained by hacking, social engineering, or tricking people into providing sensitive information.
Deepfake technology combined with sextortion techniques has increased the impact on victims. Deepfakes may now be used by perpetrators to make and distribute pornographic or compromising movies or photographs that seem genuine but are completely fake. As the prospect of discovery grows increasingly credible and tougher to rebut, the stakes for victims rise.
Cyber crooks Deceive
In this present case, cyber thugs first make video calls to people and capture the footage. They then twist the footage and merge it with a distorted naked video. As a result, the victim is obliged to conceal the case. Following that, “they demand money as a ransom to stop releasing the doctored video on the victim’s contacts and social media platforms.” In this case, a video has emerged in which a lady who was supposedly featured in the first film is depicted committing herself because of the shame caused by the video’s release. These extra threats are merely intended to inflict psychological pressure and coercion on the victims.
Sextortionists have reached a new low by profiting from the misfortunes of others, notably targeting deceased victims. The offenders want to maximise emotional pain and persuade the victim into acquiescence by generating deep fake films depicting these persons. They use the inherent compassion and emotion connected with tragedy to exact bigger ransoms from their victims.
This distressing exploitation not only adds urgency to the extortion demands but also preys on the victim’s sensitivity and emotional instability. They even pressurize the victim by impersonating them, and if the demands are fulfilled, the victims may land up in jail.
Tactics used
The morphed death videos are precisely constructed to heighten emotional discomfort and instil terror in the targeted individual. By editing photographs or videos of the deceased, the offenders create unsettling circumstances that heighten the victim’s emotional response.
The psychological manipulation seeks to instil guilt, regret, and a sense of responsibility in the victim. The notion that they are somehow linked to the catastrophe increases their emotional weakness, making them more vulnerable to the demands of sextortionists. The offenders take use of these emotions, coercing victims into cooperation out of fear of being involved in the apparent tragedy.
The impact on the victim’s mental well-being cannot be overstated. They may experience intense psychological trauma, including anxiety, depression, and post-traumatic stress disorder (PTSD). The guilt and shame associated with the false belief of being linked to someone’s death can have long-lasting effects on their emotional health and overall quality of life, others may have trust issues.
Law enforcement agencies advised
Law enforcement organisations were concerned about the growing annoyance of these illegal acts. The use of deep fake methods or other AI technologies to make convincing morphing films demonstrates scammers’ improved ability. These tools are fully capable of modifying digital information in ways that are radically different from the genuine film, making it difficult for victims to detect the fake nature of the video.
Defence strategies to fight back: To combat sextortion, a proactive approach that empowers individuals and utilizes resources is required. This section delves into crucial anti-sextortion techniques such as reporting events, preserving evidence, raising awareness, and implementing digital security measures.
- Report the Incident: Sextortion victims should immediately notify law enforcement. Contact your local police or cybercrime department and supply them with any important information, including specifics of the extortion attempt, communication logs, and any other evidence that can assist in the investigation. Reporting the occurrence is critical for keeping criminals responsible and averting additional harm to others.
- Preserve Evidence: Preserving evidence is critical in creating a solid case against sextortionists. Save and document any types of contact connected to the extortion, including text messages, emails, and social media conversations. Take screenshots, record phone calls (if legal), and save any other digital material or papers that might be used as evidence. This evidence can be useful in investigations and judicial processes.
Digital security: Implementing comprehensive digital security measures can considerably lower the vulnerability to sextortion assaults. Some important measures that one can use:
- Use unique, complicated passwords for all online accounts, and avoid reusing passwords across platforms. Consider utilising password managers to securely store and create strong passwords.
- Enable two-factor authentication (2FA) whenever possible, which adds an extra layer of protection by requiring a second verification step, such as a code delivered to your phone or email, in addition to the password.
- Regular software updates: Keep your operating system, antivirus software, and programmes up to date. Security patches are frequently included in software upgrades to defend against known vulnerabilities.
- Adjust your privacy settings on social networking platforms and other online accounts to limit the availability of personal information and restrict access to your content.
- Be cautious when clicking on links or downloading files from unfamiliar or suspect sources. When exchanging personal information online, only use trusted websites.
Conclusion:
Combating sextortion demands a collaborative effort that combines proactive tactics and resources to confront this damaging practice. Individuals may actively fight back against sextortion by reporting incidences, preserving evidence, raising awareness, and implementing digital security measures. It is critical to empower victims, encourage their rehabilitation, and collaborate to build a safer online environment where sextortionists are held accountable and everyone can navigate the digital environment with confidence.
Introduction
India’s digital growth journey has been moving at a tremendous pace. According to MeitY’s report, India’s digital economy is expected to rise to US$ 500 billion by 2025, up from US$ 200 billion in 2019. The digitisation drive that we are experiencing is likely to foster and boost a favourable business environment that will attract rapid investment and augment economic growth across sectors. This will, in turn, compel businesses to adopt digital platforms as solutions to meet customer expectations. Due to accelerated digitisation, cyber risks often deter business growth. Cybercrimes are becoming more rampant and complex and the costs associated with such breaches are not only increasing but also becoming more systemic.
Development of the Cyber Insurance Landscape
Digitization of businesses started in the 1980s with the use of mainframes. Personal computers entered the game and further modified the landscape from the 2000s along with LANs, the internet and the dot-com boom of the 2000s. In the late 1990s, cyber-insurance was developed as a risk management tool to ensure information security. Coverage was limited, and clients included SMEs in need of insurance to qualify for tenders, or community banks too small to hedge the risks of their online banking operations. The first cyber insurance policy was written in 1997 through AIG, against hacking as a third-party liability policy.
The current trends in the cyber insurance space are focused on the prevention of cyber risks, which by nature are hard to outline and constantly evolving. The result is that the buyers have limited clarity on the types of cyber risks covered under cyber insurance, and even lesser visibility on the scope and amount of optimum coverage. Unfamiliarity with the claim procedure and resolutions, ambiguous claim thresholds during settlements, and confusion around exclusions and coverage of regulatory fines and penalties under a purchased scheme further discourage potential buyers from seriously investing in cyber insurance products.
Key Factors in Cyber Insurance Evolution and Its Role in Risk Management
The cyber insurance market in India has three key influencing factors, namely the speed of achieving digital maturity, government initiatives to digitise and enforce stringent cyber laws, and the evolving landscape with technology giants and MNCs entering the cyber insurance domain. The latter are the catalyst for intensifying competition in this market.
Advancements in technology in terms of AI, machine learning, big data, robotics, blockchain, augmented and virtual reality, and IoT are expected to reshape the insurance industry and help reach untapped audiences in a more digital-forward manner. With the absence of a standard cyber insurance policy, regulators need to take the following variables into consideration while developing cyber insurance policies: the risk insured against, the scope of the loss covered and the limits/ sub-limits.
Challenges
With the complexity of cyber risks increasing exponentially the challenges to counter the same are growing too which is leading to gaps in the coverage offered for cyber threats. Resultantly, the compliance regulations are dependent on the risks which exist and cyber threat actors adopt new technologies faster and exploit them to their benefit. A lack of historical data and predictability in future cyber risks, the possibility of large overwhelming loss events, uncertainties among market participants about what is specifically covered under such policies, and legal battles over fundamental issues are some of the challenges identified.
Future Outlook/ Recommendations
India's cyber infrastructure requires a multi-faceted approach that involves collaboration between government, industry, and academia should be developed. Some recommendations are:
- Risk assessments should be a general practice and the cyber insurance policies should be simplified, clearing the mismatch between the premium paid and insurance coverage and there should be standard verbosity across cyber policy language.
- Promoting R&D tailored to India focused on education programs that have public-private partnerships and global collaborations to share threat intelligence, best practices, and expertise in critical infrastructure protection.
- Cyber insurance can also be promoted as compliance with the DPDP Act, which would lead to better development of cyber infrastructure and cyber hygiene practices.
- Regular updates to cyber insurance policies to ensure relevance and effectiveness. Insurers could create and offer holistic cyber insurance risk management plans.
Conclusion
According to a report by Deloitte in 2023, the cyber insurance market in India is expected to grow by 27-30 per cent in the coming years and it is currently valued at USD 50-60 million, while maintaining a steady 27-30 per cent CAGR in the past three years. The Indian cyber infrastructure’s nature is challenging, however, it offers opportunities for growth, innovation, and collaboration. A proactive approach, supported by robust policies, advanced technologies, and skilled professionals, will be essential to building a resilient cyber infrastructure capable of withstanding evolving threats.
Reference
- https://www2.deloitte.com/content/dam/Deloitte/nl/Documents/financial-services/deloitte-nl-fsi-demystifying-cyber-insurance-coverage-report.pdf
- https://www.dnaindia.com/business/report-what-s-cyber-liablity-insurance-and-why-you-may-need-it-2136556
- https://economictimes.indiatimes.com/industry/banking/finance/insure/cyber-insurance-gains-momentum-in-india-set-to-witness-exponential-growth-deloitte/articleshow/104189297.cms?from=mdr
Introduction:
The Ministry of Civil Aviation, GOI, established the initiative ‘DigiYatra’ to ensure hassle-free and health-risk-free journeys for travellers/passengers. The initiative uses a single token of face biometrics to digitally validate identity, travel, and health along with any other data needed to enable air travel.
Cybersecurity is a top priority for the DigiYatra platform administrators, with measures implemented to mitigate risks of data loss, theft, or leakage. With over 6.5 million users, DigiYatra is an important step forward for India, in the direction of secure digital travel with seamless integration of proactive cybersecurity protocols. This blog focuses on examining the development, challenges and implications that stand in the way of securing digital travel.
What is DigiYatra? A Quick Overview
DigiYatra is a flagship initiative by the Government of India to enable paperless travel, reducing identity checks for a seamless airport experience. This technology allows the entry of passengers to be automatically processed based on a facial recognition system at all the checkpoints at the airports, including main entry, security check areas, aircraft boarding, and more.
This technology makes the boarding process quick and seamless as each passenger needs less than three seconds to pass through every touchpoint. Passengers’ faces essentially serve as their documents (ID proof and if required, Vaccine Proof) and their boarding passes.
DigiYatra has also enhanced airport security as passenger data is validated by the Airlines Departure Control System. It allows only the designated passengers to enter the terminal. Additionally, the entire DigiYatra Process is non-intrusive and automatic. In improving long-standing security and operational airport protocols, the platform has also significantly improved efficiency and output for all airport professionals, from CISF personnel to airline staff members.
Policy Origins and Framework
Rooted in the Government of India's Digital India campaign and enabled by the National Civil Aviation Policy (NCAP) 2016, DigiYatra aims to modernise air travel by integrating Aadhaar-based passenger identification. While Aadhaar is currently the primary ID, efforts are underway to include other identification methods. The platform, supported by stakeholders like the Airports Authority of India (26%) and private airports (14.8% each), must navigate stringent cybersecurity demands. Compliance with the Digital Personal Data Protection Act, 2023, ensures the secure use of sensitive facial recognition data, while the Aircraft (Security) Rules, 2023, mandate robust interoperability and data protection mechanisms across stakeholders. DigiYatra also aspires to democratise digital travel, extending its reach to underserved airports and non-tech-savvy travellers. As India refines its cybersecurity and privacy frameworks, learning from global best practices is essential to safeguarding data and ensuring seamless, secure air travel operations.
International Practices
Global practices offer crucial lessons to strengthen DigiYatra's cybersecurity and streamline the seamless travel experience. Initiatives such as CLEAR in the USA and Seamless Traveller initiatives in Singapore offer actionable insights into further expanding the system to its full potential. CLEAR is operational in 58 airports and has more than 17 million users. Singapore has made Seamless Traveller active since the beginning of 2024 and aims to have a 95% shift to automated lanes by 2026.
Some additional measures that India can adopt from international initiatives are regular audits and updates to the cybersecurity policies. Further, India can aim for a cross-border policy for international travel. By implementing these recommendations, DigiYatra can not only improve data security and operational efficiency but also establish India as a leader in global aviation security standards, ensuring trust and reliability for millions of travellers
CyberPeace Recommendations
Some recommendations for further improving upon our efforts for seamless and secure digital travel are:
- Strengthen the legislation on biometric data usage and storage.
- Collaborate with global aviation bodies to develop standardised operations.
- Cybersecurity technologies, such as blockchain for immutable data records, should be adopted alongside encryption standards, data minimisation practices, and anonymisation techniques.
- A cybersecurity-first culture across aviation stakeholders.
Conclusion
DigiYatra represents a transformative step in modernising India’s aviation sector by combining seamless travel with robust cybersecurity. Leveraging facial recognition and secure data validation enhances efficiency while complying with the Digital Personal Data Protection Act, 2023, and Aircraft (Security) Rules, 2023.
DigiYatra must address challenges like secure biometric data storage, adopt advanced technologies like blockchain, and foster a cybersecurity-first culture to reach its full potential. Expanding to underserved regions and aligning with global best practices will further solidify its impact. With continuous innovation and vigilance, DigiYatra can position India as a global leader in secure, digital travel.
References
- https://government.economictimes.indiatimes.com/news/governance/digi-yatra-operates-on-principle-of-privacy-by-design-brings-convenience-security-ceo-digi-yatra-foundation/114926799
- https://www.livemint.com/news/india/explained-what-is-digiyatra-how-it-will-work-and-other-questions-answered-11660701094885.html
- https://www.civilaviation.gov.in/sites/default/files/2023-09/ASR%20Notification_published%20in%20Gazette.pdf
