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Prime Minister Narendra <keyword id="19899684" type="General" weightage="20" keywordseo="Modi" source="keywords">Modi</keyword> on Friday said the government is making necessary <keyword id="20861068" type="General" weightage="20" keywordseo="policy-changes" source="keywords">policy changes</keyword>, like removal of <keyword id="20279287" type="General" weightage="20" keywordseo="Angel-Tax" source="keywords">Angel Tax</keyword>, to promote the <keyword id="19945816" type="General" weightage="100" keywordseo="fintech" source="keywords">fintech</keyword> sector, even as he asked the <keyword id="19962476" type="General" weightage="20" keywordseo="regulators" source="keywords">regulators</keyword> to take additional measures to check cyber frauds which can have a crippling impact on startups. Lauding the fintechs for democratising <keyword id="19976433" type="General" weightage="20" keywordseo="financial-services" source="keywords">financial services</keyword>, Modi said the sector, which has attracted USD 31-billion investment in the last 10 years, has played a key role in denting the parallel economy. The Prime Minister was addressing the Global Fintech Fest (GFF) 2024, jointly organised by the Payments Council of India, the National Payments Corporation of India and the Fintech Convergence Council. He said the domestic economy and the capital market are in a celebratory mood at a time when the nation is also going through a festive period. Modi underlined that the government is making all necessary changes on the policy level to assist the fintech sector and gave examples of doing away with Angel Tax, allocating Rs 1 lakh crore to encourage research and innovation in the country and implementing the Digital Personal Data Protection Act. Broadly, fintech refers to entities utilising technologies for providing financial services. Expressing the need to put an end to <keyword id="19901142" type="General" weightage="20" keywordseo="cyber-fraud" source="keywords">cyber fraud</keyword>, he urged the regulators to take major initiatives to boost digital literacy. It is equally important to ensure cyber fraud does not come in the way of the growth of fintech and startups in the country, Modi said. In his speech, the Prime Minister also cautioned about the dangers of a parallel economy for the world. Fintech, he said, has played an impactful role in denting such a system and credited the emergence of transparency. He said that digital technology has introduced transparency in India and gave the example of the implementation of Direct Benefit Transfer used in hundreds of government schemes that has prevented leakages in the system. "Today, people can see the benefits of aligning with the formal banking system," he said. Modi further said the trinity of Jan Dhan, Aadhaar and Mobile have broken down the mentality of 'Cash is King' and made way for approximately half of the <keyword id="20004116" type="General" weightage="20" keywordseo="digital-transactions" source="keywords">digital transactions</keyword> in the world taking place in India. "India's <keyword id="19900911" type="General" weightage="20" keywordseo="upi" source="keywords">UPI</keyword> has become a major example of fintech in the world," he said, adding that it has enabled 24X7 banking services in every village and city in all weather conditions. Underlining the role of fintech in democratising financial services, the Prime Minister gave examples of readily available loans, credit cards, investments and insurance. He said that fintech has made access to credit easy and inclusive, and gave the example of PM SVANidhi scheme that has enabled street vendors to avail collateral-free loans and further expand their business with the help of digital transactions. "Sustainable <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword> is India's priority today," he said and emphasised that the government is creating robust, transparent and efficient systems to strengthen financial markets with advanced technologies and regulatory frameworks. About 800 speakers, including policymakers, regulators, senior bankers, industry captains, and academicians, from India and other countries are participating in the fest.

Removed Angel Tax, taking policy measures to promote fintech sector: PM Modi

<ul><li>The government has warned about a new way <keyword id="19962622" type="General" weightage="20" keywordseo="scammers" source="keywords">scammers</keyword> are trying to obtain <keyword id="20189059" type="General" weightage="20" keywordseo="personal-information" source="keywords">personal information</keyword>.</li><li>Users have reportedly received an SMS asking them to update their PAN to unblock their <keyword id="20417750" type="General" weightage="20" keywordseo="bank-account" source="keywords">bank account</keyword>.</li><li>Here's everything you need to know about the <keyword id="22918614" type="General" weightage="100" keywordseo="fake-PAN-SMS" source="keywords">fake PAN SMS</keyword> and how to stay safe.</li></ul>Increased usage of the internet has also resulted in an increase in <keyword id="20025584" type="General" weightage="20" keywordseo="online-fraud" source="keywords">online fraud</keyword>. Scammers are finding new ways to fool people and steal from them. A new method has now been revealed, which preys on users with an account in <keyword id="19985316" type="General" weightage="20" keywordseo="India-Post-Payments-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="India Post Payments Bank" meta.hostid="261" meta.entityid="India Post Payments Bank">India Post Payments Bank</keyword>. According to a post by PIB Fact Check, several users have received an SMS which claims to be from India Post Payments Bank. However, the message is fake and is an attempt to steal user data. “This claim is #Fake. @IndiaPostOffice never sends any such messages. Never share your personal &amp; bank details with anyone,” PIB Fact Check said in its post on X. <div type="twitter" handle="PIBFactCheck" handlename="PIBFactCheck" favoritecount="0" retweetcount="0" id="1825494609881170290"></div> <h2>What is the fake PAN SMS?</h2> In the SMS, the user is warned that their India Post Payments Bank account has been blocked. It then asks the users to update their PAN to get their account unblocked. The user is then given a link, asking them to click on the link to update their PAN. <div type="Article" hostid="261" msid="111512587" title="Jio vs Airtel vs Vi recharge plans comparison – plan benefits and price comparison after tariff hike" mstype="2" mssubtype="0"></div> The link then redirects the user to a <keyword id="20182216" type="General" weightage="20" keywordseo="phishing" source="keywords">phishing</keyword> page, aimed at stealing user data such as their bank account login details to gain access to their account. Once you enter your bank account login details, they will be sent to the scammer. <h2>What is phishing?</h2>Phishing is a cyber-attack where attackers impersonate legitimate organisations or individuals to trick people into revealing sensitive information like passwords or credit card details. This is usually done through deceptive emails, messages, or fake websites. <h2>How to stay safe from phishing attacks?</h2>Here are some ways you can identify phishing attacks and stay safe: <ul><li>Verify the sender: Check the sender’s email address or phone number carefully. Phishers often use addresses that look similar to legitimate ones but have small differences.</li><li>Look for red flags: Be wary of unexpected messages, especially those requesting sensitive information or containing urgent or threatening language.</li><li>Verify before opening: Only open attachments from trusted sources. Phishing emails often contain malware disguised as legitimate files.</li><li>Add two-factor authentication: Enable two-factor authentication on your accounts. This adds an additional layer of security even if your password is compromised.</li><li>Contact directly: If you receive a request for sensitive information, verify the request by contacting the organisation directly through known and trusted channels.</li><li>Report phishing attempts: Report phishing emails to your email provider or the relevant authorities. This helps in tracking and stopping phishing schemes.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/iqoo-z9s-pro-vs-moto-edge-50-fusion-which-is-the-best-smartphone-under-25000/slidelist/112703633.cms">iQOO Z9s Pro vs Moto Edge 50 Fusion – which is the best smartphone under ₹25,000?</a>

Govt warns about fake SMS asking users to update their PAN – what it is and how to stay safe

<ul><li>Between January 2020 and June 2023, 75% of cyber crimes in India were attributed to financial frauds.</li><li>Expenses incurred in the retrieval or restoration of lost or corrupted data resulting from malware attacks is covered in policies. </li><li>Financial losses incurred due to online shopping on fraudulent websites are also covered. </li></ul>Online monetary transactions are on the rise every year and as we spend more and more time in the virtual world, the world of crime has seen opportunities and spread its tentacles in this sphere too. Cybersecurity fraud includes various types, including <keyword id="6359049" type="General" weightage="20" keywordseo="phishing" source="Orion">phishing</keyword> attacks that trick users into revealing personal information, ransomware that encrypts data for extortion, <keyword id="429939" type="General" weightage="20" keywordseo="identity-theft" source="Orion">identity theft</keyword> for financial gain, and malware infections exploiting vulnerabilities in systems. Many of these frauds result in <keyword id="514956" type="General" weightage="20" keywordseo="financial-loss" source="Orion">financial loss</keyword> because the bank account of the victim is compromised. A study conducted by a start-up incubated with IIT Kanpur revealed that between January 2020 and June 2023, 75% of cyber crimes in India were attributed to financial frauds. Companies take <keyword id="1672191" type="General" weightage="20" keywordseo="cyber-insurance" source="Orion">cyber insurance</keyword> to protect themselves from damages due to cyber frauds. Cyber security insurance is also available for individuals. HDFC ERGO, offers a cyber sachet insurance policy, tailored for individuals, including students, women, entrepreneurs, and working professionals. The policy covers a range of cyber threats such as theft of funds, identity theft, social media liability, malware attacks, phishing, and third-party data breaches along with coverage for counselling services to support individuals who experience emotional setbacks due to cyber incidents. Also one can extend the coverage to cover their smart home devices affected by malware attacks. Similarly Bajaj Allianz provides an Individual Cyber Safe Insurance Policy. Cyber insurance acts as a protective measure against potential losses incurred online, offering assurance and coverage in case of adverse incidents. This insurance coverage grants peace of mind, allowing individuals to engage in online activities without constant concern over financial ramifications caused by cyber threats. Such plans can have a sum insured of ₹10,000 to ₹5 crore. Let us take a look at what all is covered under cyber insurance. Financial loss: The coverage extends to financial losses resulting from online frauds, encompassing unauthorised access, phishing, and spoofing incidents affecting bank accounts, credit/debit cards, and digital wallets. “Any sort of financial loss due to any <keyword id="6358845" type="General" weightage="20" keywordseo="cyber-fraud" source="Orion">cyber fraud</keyword> is covered up to the sum assured in the policy. For example if someone clicks on a phishing link and then one's account is hacked and one loses money from their bank account the policy will cover it,” says TA Ramalingam, chief technical officer, Bajaj Allianz General Insurance . Identity theft: Coverage includes indemnification for financial losses, credit monitoring expenses, legal fees for prosecution resulting from the unauthorised use of personal information by a third party on the internet. Additionally, it encompasses psychological consultation expenses for the affected individual. Data restoration: Expenses incurred in the retrieval or restoration of lost or corrupted data resulting from malware attacks is covered. “Cost incurred in restoring lost or corrupted data or replacing hardware due to malware attack,” says Parthanil Ghosh, President, Retail Business HDFC ERGO General Insurance. Hardware replacement: Expenses associated with replacing your personal device or its components that have been impacted or damaged due to a malware attack are covered. Cyber bullying: Coverage includes legal expenses, expenses related to removing objectionable content posted by cyber-bullies, and psychological consultation costs for the affected individual. Online shopping: Financial losses may be incurred due to online shopping on fraudulent websites. “Online shopping fraud where an item is not received even after making a full payment is covered,” says Ghosh. What is not covered Any losses resulting out of dishonest or improper conduct is not covered. Any losses arising out of racist, pornographic or other immoral services or restricted websites are also not covered. Some of the other exclusions include coverage for investment activities like selling shares and losses in cryptocurrency. It is the onus of the policyholder to follow basic safety procedures. “One needs to behave as if one is not insured. So if someone makes basic mistakes like sharing one’s PIN or OTP or writing the PIN at the back of an ATM card, the insurance company won't cover any damages,” says Ramalingam. If you are a heavy mobile phone or Internet user, having cyber insurance can give you a safety net. However, remember, it pays to stay vigilant.

Online financial crimes on the rise – How to secure your digital world

Union Finance Minister Nirmala Sitharaman on Thursday said that while government institutions, <keyword id="6368751" type="General" weightage="20" keywordseo="banks" source="Orion">banks</keyword> and <keyword id="114713" type="General" weightage="20" keywordseo="insurance-companies" source="Orion">insurance companies</keyword> were building greater awareness over cyber fraud, there was a need for people also to be more alert against cheats who were out to game the system. Speaking at the 'DATE with Tech' event in the national capital, Sitharaman said the government regularly examines public sector banks and the RBI checks its own systems in order to prevent <keyword id="70382" type="General" weightage="20" keywordseo="cyber-frauds" source="Orion">cyber frauds</keyword>, in which victims are tricked via <keyword id="10861" type="General" weightage="20" keywordseo="phone" source="Orion">phone</keyword> or <keyword id="6369206" type="General" weightage="20" keywordseo="sms" source="Orion">SMS</keyword>, while insurance firms assess their own systems as well. "India is in a transitional stage, we are at a stage where we are transforming from what was before to what is now, which is completely digital," Sitharaman added. She said there is worry on a small scale about people receiving arbitrary calls that trap them and cause them to lose money. "Those people who game the system probably are one notch ahead of us in terms of using and misusing technology. On that, there is a lot of work required. It is a never-ending game because technology is such an animal that keeps moving and racing much ahead of you. You have to be sure that you got the reins in your hand," Sitharaman said. The Union Minister said big organisations with systemically sensitive information should have sufficient technology and staff that are properly educated to firewall their systems on a daily basis. They also need to continuously assess whether the firewall is still capable of doing its job. She also highlighted India's achievement in developing a comprehensive digital infrastructure known as the "India Stack". This initiative, funded by public resources, integrates various digital elements, marking a significant leap in the nation's digitiaation journey which has been appreciated by other countries as well. Sitharaman said in the recent G20 Digital Public Infrastructure conference people were really surprised that a country like India could not only utilise the talent which is available with public funds and be able to scale it up at the ground level.

Banks, RBI keeping close watch to tackle cyber fraud: Sitharaman

The Centre has blocked over 100 websites involved in facilitating organised illegal investments related to economic crimes and task-based part-time job frauds. According to an official statement, these websites were being operated by overseas actors and targets were mostly retired employees, women and unemployed youth looking for part time jobs. The Indian Cybercrime Coordination Centre (I4C), a wing of the Union Home Ministry, through its vertical National Cybercrime Threat Analytics Unit (NCTAU) had last week identified and recommended that these websites be blocked. Following this, the Ministry of Electronics and Information Technology (MeitY), invoking its power under the Information Technology Act, 2000, has blocked these websites, the statement said. These websites, which facilitated task-based organised illegal investment related to economic crimes, were learnt to be operated by overseas actors and were using digital advertisement, chat messengers and mule and rented accounts. The proceeds from the large scale economic frauds were seen to be laundered out of <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> using card network, crypto currency, overseas ATM withdrawals and international Fintech companies, the statement said. The I4C is an initiative of the Home Ministry to deal with cyber crimes in the country in a coordinated and comprehensive manner. <keyword id="6366773" type="General" weightage="80" keywordseo="citizens" source="Orion">Citizens</keyword> have been advised to promptly report phone numbers and social media handles used by such fraudsters to the National Cybercrime Reporting Portal (NCRP), the statement said. It said several complaints have been received through 1930 helpline and the NCRP and these offences were posing significant threat to the citizens and also involved data security concerns. These frauds, typically, involve a number of steps that include targeted digital advertisements launched on platforms like Google and Meta using key words like "Ghar baithe job" (Do jobs sitting at home), "Ghar baithe kamai kaise karen" (How to earn by sitting at home) etc. in multiple languages from overseas advertisers. Upon clicking the advertisement, an agent using WhatsApp or Telegram starts conversation with the potential victim, who convinces him or her to perform some tasks like video likes and subscribe, maps rating, etc. Upon completion of task, the victim is given some commission, initially and is asked to invest more to get more returns against given task. After gaining confidence, when victim deposits larger sum, deposits are frozen and thus the victim is duped. As precautionary measure, it is advised to exercise due diligence before investing in any such very high commission paying online schemes sponsored over internet. If an unknown person contacts anyone over WhatsApp or Telegram, refrain from performing financial transactions without verification, the statement said Verify the name of receiver mentioned in UPI App. If receiver is any random person, it may be a mule account and scheme may be fraudulent.Similarly, check the source from where initial commission is received, it said. Citizens should refrain from doing transactions with unknown accounts, as these could be involved in money laundering and even terror financing and lead to blocking of accounts by police and other legal action, the statement said. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-november-2023/slidelist/105775116.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-november-2023/slidelist/105775116.cms" target="_blank">WagonR to Creta – Top selling cars in India in November</a><a href="https://www.businessinsider.in/tech/mobile/news/oneplus-announced-new-flagship-smartphone-oneplus-12-with-up-to-24gb-ram/articleshow/105756057.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-announced-new-flagship-smartphone-oneplus-12-with-up-to-24gb-ram/articleshow/105756057.cms" target="_blank">OnePlus 12 debuts with bigger battery, up to 24GB RAM and more</a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-and-tvs-motor-leading-electric-two-wheeler-sales-in-nov-2023-month/articleshow/105719702.cms">Electric two-wheeler sales rise in Nov as Ola Electric scales a new high</a>

Over 100 websites blocked for facilitating organised illegal investments

<ul><li>The phrase "<keyword id="14520" type="General" weightage="100" keywordseo="black-friday" source="Orion">Black Friday</keyword>" was first used by Philadelphia's police departments in the 1950s. </li><li>Black Friday primarily refers to the sales period during or right after <keyword id="32170" type="General" weightage="20" keywordseo="thanksgiving" source="Orion">Thanksgiving</keyword>, where brands go all guns blazing, claiming to offer heavily discounted prices online and offline. </li><li>Even in India, retailers are offering discounts on mobiles, apparel, white goods, electronics to name a few. </li></ul>A month before the arrival of <keyword id="6454936" type="General" weightage="50" keywordseo="santa-claus" source="Orion">Santa Claus</keyword>, and a day after Thanksgiving comes a day that’s very important to buyers and sellers alike – Black Friday. The day which kicks off the Christmas shopping season is known for its deep discounts, sales and product launches. The concept of having a sale on Black Friday originated from the United States – the country which celebrates Thanksgiving. But it wasn’t always associated with shopping. The phrase Black Friday was first used by Philadelphia's police departments in the 1950s to name the chaos that followed Thanksgiving. At that time, a football game would draw hundreds of suburban tourists into the city, which would be problematic for the police to control. However, there is another bleak reason why the phrase was coined. On Friday, September 24, 1869, plummeting gold prices dragged down the American stock markets, sending thousands into bankruptcy. “The crash was a consequence of an attempt by financier Jay Gould and railway magnate James Fisk to corner the gold market and drive up the price,” as per the <a href="https://www.britannica.com/story/why-is-it-called-black-friday">Encyclopedia Britannica</a>. Thankfully, currently Black Friday primarily refers to the sales period where brands go all guns blazing, claiming to offer heavily discounted prices on appliances, fashion, gadgets and more. This year, the Black <keyword id="15591763" type="General" weightage="50" keywordseo="friday-sale" source="Orion">Friday Sale</keyword> begins from Friday, November 25 and ends on Monday, November 28 - which also happens to be <keyword id="1461657" type="General" weightage="20" keywordseo="cyber-monday" source="Orion">Cyber Monday</keyword> i.e. when deals on electronic devices fall on the first Monday after Thanksgiving. Black Friday in India too India, which just got done with its own festive season sale lasting a month between September 22 to October 23, is also leaving no chance to jump onto the bandwagon. Amazon, Croma, TataCliq, Myntra, and Flipkart are some of the companies offering Black Friday deals. And, a large number of steep deals are being offered in the fashion category, especially for Western wear. TataCliq is offering up to <a href="https://www.tatacliq.com/black-friday-prebuzz?cid=af:homepage:RED+PIXELS+VENTURES+LIMITED:hasoffers:15032017">85% discount</a> for premium <a href="https://www.business-standard.com/article/companies/tata-cliq-luxury-plans-black-friday-sale-from-november-23-at-a-large-scale-122112100797_1.html">brands</a> like Kate Spade, Calvin Klein, Lacoste, <keyword id="226977" type="General" weightage="50" keywordseo="michael-kors" source="Orion">Michael Kors</keyword>, Aldo, <keyword id="15616962" type="General" weightage="50" keywordseo="dune-london" source="Orion">Dune London</keyword>, Hoka. H&amp;M is offering 30% off on Black Friday and other brands like <keyword id="4291829" type="General" weightage="50" keywordseo="zara-india" source="Orion">Zara India</keyword>, <keyword id="567332" type="General" weightage="50" keywordseo="puma-india" source="Orion">Puma India</keyword>, Adidas are also offering at least 40% discounts on its products, both online and offline. Myntra Black Friday haul is between November 25-27 presenting discounts of flat 70% on 1.5 lakh styles with brands like Mango, Marks &amp; Spencer and more. Retailers and brands both are offering deals in electronics too. Noise (smartwatches, Airpods), Steam and PlayStation are offering deals on gaming equipment and offers on PC gaming titles. Croma India will give discounts on white goods, home appliances, Apple MacBook (starts ₹77,090), iPads (starting at ₹25,000) and iPhones (starting at ₹56,990) at discounted prices. It began its Black Friday sale from 18 November which will conclude on 27 November. Flipkart is kickstarting its Black Friday deals from November 25, offering 50-inch smart TVs beginning from ₹23,999. List of companies offering Black Friday and Cyber Monday Sales in India: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Duration of Black Friday Sales 2022 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Myntra Black Friday Haul 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 25-27 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Croma Darkest Black Friday Sale </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 18-27 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata CliqLuxury Black Friday Sale 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 23-28 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Noise Black Friday Sale 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 22-25 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Flipkart Black Friday Sale 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 25-30 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adidas India Black Friday Sale </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 25-27 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Puma Black Friday Sale </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 25-28 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zara Black Friday Sale </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 25-28 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">H&amp;M Black Friday Sale </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">November 25 </td></tr></tbody></table> Too Good to be true? Recheck deal, says FBI With sales come scams, and this time dark entities are doing the rounds on the web looking to cash in on the festive fervour to shop online. The Federal Bureau of Investigation or FBI has given a warning on frauds that are lurking in the guise of offers. It is essential to check the official legitimacy of websites, according to Jeffrey R Downey, Special Agent in Charge of the FBI El Paso Field <a href="https://www.gadgetsnow.com/tech-news/planning-to-shop-in-blackfriday-and-cyber-monday-sales-fbi-has-a-warning/articleshow/95753579.cms">Office</a>. In addition, fake social media surveys during sale festivities are opening gateways to mine personal information. Fraudulent gift cards, unverified donations to charity organisations online, fake job postings, offers for free smartphones are some other ways unassuming customers are tricked. (with inputs from ANI) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/adani-to-raise-rs-20000-cr-through-fresh-share-issue/articleshow/95764529.cms">Adani to raise Rs 20,000 cr through fresh share issue</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/uniparts-indias-836-crore-ipo-to-open-on-november-30/articleshow/95764556.cms">Uniparts India’s ₹836 crore IPO to open on November 30</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/a-year-after-market-debut-paytm-is-the-worst-performer-among-recent-large-ipos-cartrade-policybazaar-and-lic-join-the-party/articleshow/95762071.cms">A year after market debut, Paytm is the worst performer among recent large IPOs – Cartrade, Policybazaar and LIC join the party</a>

Black Friday: The sales, scams and myths

Keeping the upcoming festive season and growing online frauds in mind, <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> on Tuesday announced a partnership with <keyword id="72592" type="CITY" weightage="20" keywordseo="Bajaj-Allianz">Bajaj Allianz</keyword> General Insurance Company to offer ‘Digital Suraksha Group Insurance for customers in the country. The "Digital Suraksha Group Insurance" policy will cover financial losses caused by various kinds of online frauds and cyber attacks that might occur during digital transactions. The customers can choose for a one-year cover at premiums as low as Rs 183 for a cover of Rs 50,000, Rs 312 for Rs 1 lakh, and Rs 561 for Rs 2 lakh for a 12-months tenure, with covers also extending up to Rs 10 lakh. "As the festive season nears, we want to ensure that the customers' online shopping experience, across any digital medium, is devoid of stress and apprehensions," said Ranjith Boyanapalli, Head, Fintech and Payments Group, Flipkart. The policy can be availed while buying certain models of mobiles, laptops, tablets, and audio devices on Flipkart. The insurance compensates for direct financial loss (up to the sum insured) due to unauthorised digital financial transactions as a result of identity theft arising out of cyber attacks, phishing/spoofing and SIM-jacking. The policy covers online transactions for debit cards, credit card, digital wallets, UPI/Internet banking (All bank accounts, credit and debit cards and mobile wallets), the company said in a statement. "With this Digital Suraksha Group Insurance introduced on Flipkart's platform, at less than 50 paise per day, you can protect yourself against the financial risk of getting defrauded online," said Tapan Singhel, MD and CEO, Bajaj Allianz General Insurance. The claim is admissible if a loss of funds is reported within 90 days of the occurrence and multiple claims/incidents are covered up to the sum insured. The policy offers worldwide cover and offers protection while travelling international. "During this Covid-19 era, as you shop online, this insurance will provide coverage against various cyber threats, thus making your online experience worry-free," Singhel said. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/google-doodle-celebrates-zohra-sehgal-everyones-favourite-dadi-an-indian-royal-and-doctor-who-star/articleshow/78377815.cms">Google Doodle celebrates Zohra Sehgal — Everyone's favourite dadi, an Indian royal and Doctor Who star</a> <a href="https://www.businessinsider.in/business/startups/news/super30-alumni-founded-startup-wants-to-take-forward-the-legacy-of-his-alma-mater/articleshow/78377011.cms">Super30 alumni founded startup wants to take forward the legacy of his alma mater</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-infosys-central-bank-of-india-dhfl-anuh-pharma-shalby-balaji-telefilms-and-others/articleshow/78376167.cms">Top stocks to watch— Infosys, Central Bank of India, DHFL, Anuh Pharma, Shalby, Balaji Telefilms and others</a>

Flipkart partners with Bajaj Allianz to offer cyber fraud insurance for online transactions

<ul><li>The CoinEgg scam uses fake domains and social media accounts to coax users into investing in fake exchanges.</li><li>After making victims invest, scammers approached them as investigative agents who could help with the scam.</li><li>How long the fraud has been going on is unclear at the moment.</li></ul>Despite the immense popularity of cryptocurrencies and crypto-trading in India, users in the country are still falling for high profile scams. Researchers at security firm CloudSEK have unearthed a new scam called CoinEgg, which defrauded as much as ₹10 billion [₹1,000 crore] from users in the country. “We discovered an on-going malicious scheme involving multiple payment gateway domains and Android-based applications, used to lure unsuspecting individuals into a mass gambling scam,” the company said in a blog <a href="https://cloudsek.com/threatintelligence/coinegg-scam-campaign-steals-victims-cryptocurrency-and-data/">post</a>. <cmsannotation type="cmsannotation" annotationid="CoinEgg Scam: How this works" comment="subhead" text="CoinEgg Scam: How this works">CoinEgg Scam: How this works</cmsannotation> According to the researchers, the threat actors created multiple fake domains impersonating crypto trading platforms, with the word ‘CloudEgg’ in them. “The sites are designed to replicate the official website’s dashboard and user experience,” the company said, adding that the scam is divided in seven phases. After creating the fake domains, in the second phase, the attackers create a female profile on social media “to approach the potential victim and establish a friendship”. This profile is used to influence the victim to invest in crypto and start trading. “The profile also shares USD 100-dollar credit, as a gift to a particular crypto exchange, which in this case is a duplicate of a legitimate crypto exchange,” the firm said. The victims are enticed to sign up for the fake exchanges using this free credit, and start trading using the same, based on instructions from the attacker. They eventually invest their own money and “seemingly” make profits, which in turn convinces them to invest even higher amounts. Once the victim adds their own money, the attacker freezes their account to keep them from withdrawing the funds and disappears. You would think that the scam ends here, would you? It doesn’t. In the seventh phase of the scheme, when the victims take to other platforms to complain about their experience, the attacker uses other fake accounts to reach out to them and pose as if they are investigators. “To retrieve the frozen assets, they request victims to provide confidential information such as ID cards and bank details via email. These details are then used to perpetrate other nefarious activities,” the researchers said. <cmsannotation type="cmsannotation" annotationid="Crypto scams on the rise" comment="subhead" text="Crypto scams on the rise">Crypto scams on the rise</cmsannotation> CloudSEK, of course, isn’t the first or only firm to flag a rise in crypto scams around the world recently. In an <a href="https://www.cnbctv18.com/cryptocurrency/crypto-scammers-using-linkedin-to-target-victims-warns-fbi-13878672.htm">interview with CNBC</a> last week, Sean Ragan, a special agent with the Federal Bureau of Investigation (FBI), said that crypto scammers are targeting users through LinkedIn and pose a “significant threat” to the platform’s users. Yesterday, research by fact-checking platform Logically, <a href="https://www.logically.ai/articles/qanon-crypto-lose-followers-2-million">noted</a> that influencers affiliated with American political conspiracy Qanon have been persuading their followers to invest in fraudulent crypto tokens. Rahul Sasi, the chief executive of CloudSEK, said that in the short-term crypto-related phishing domains have to be taken down earlier; but crypto exchanges, internet service providers, and cyber crime cells have to work together in the long run to avoid such scams. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/bitcoin-and-ethereum-reverse-crypto-crash-effects-make-a-quick-and-fast-rebound/articleshow/92329970.cms">Bitcoin and Ethereum reverse crypto crash effects; make a quick and fast rebound</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/dogecoin-spikes-after-elon-musk-says-hell-keep-buying-the-cryptocurrency/articleshow/92316750.cms">Dogecoin spikes after Elon Musk says he'll keep buying the cryptocurrency</a>

Crypto scammers have reportedly stolen ₹1000 crore off Indian users by posing as fake exchanges

<ul><li>In India only two third of the police stations across 22 states have access to a functional computer. </li><li>One in every five Indian police officer says they don't have to technology to investigate cyber crimes. </li><li>Forget computers, one in every ten police station do not have access to drinking water. </li></ul>In India, a third of police stations across 22 states do not have access to a functional computer, reported Status of Policing in India 2019. This is in spite of the fact that cybercrime in India grew by a massive 457% in the last five years. Yet, one in every five Indian police officers says they don't have to technology to investigate cyber crimes. The police are not well equipped to handle offline crimes either. As many as 46% police officials said they have faced a situation when they needed a vehicle but didn't get any. Moreover, 41% say that they are understaffed, and unable to reach a crime scene on time. The state government typically allocates 3% of its budget to the police department. However, most of the allocated budget goes into salaries and other capital expenditure, leaving no room for development. The resources in police departments are so low that 28% say they purchased stationery, carbon paper in the past 2-3 years from their pocket to keep the work going. Forget computers, one in every ten police station do not have access to drinking water Screenshot from Status of Policing in India 2019 According to the study, many police stations lack clean toilets and drinking water facilities. As many as 18% of police officers said their station doesn’t have clean bathrooms. Further, 10% of the police personnel said they do not have a drinking water facility. In fact, some of the police stations do not even have a sitting area or provision for food, all of which affect their ability to devote more time towards investigation. The police officers in India are already overworked as they pull in 14 hour shifts, and miss weekly offs sometimes. See also: <div type="Article" hostid="261" msid="71075344" title="Tired of 14-hour work days, a third of Indian police officers are keen on quitting" mstype="2" mssubtype="0"></div>

Indian police stations are struggling to access computers as cybercrime zooms

<ul><li><keyword id="417381" type="General" weightage="20" keywordseo="brushing" source="Orion">Brushing</keyword>, <keyword id="13955866" type="General" weightage="20" keywordseo="false-investment" source="Orion">false investment</keyword> and <keyword id="120726" type="General" weightage="20" keywordseo="money-management" source="Orion">money management</keyword> are top <keyword id="6386312" type="General" weightage="20" keywordseo="online-fraud" source="Orion">online fraud</keyword> types in China.</li><li>The list was released by China’s Ministry of Public Security.</li><li>India witnessed a steady spike in cyber crimes since 2018.</li></ul>We truly want to believe that the internet is a safe place but we all know that humans can become an easy target and there is little we can do about it. Online fraud involves the use of online services and software to take advantage of victims. It covers different types of cybercrime activity such as identity theft, phishing, and different hacking activities. Recently, the Ministry of Public Security from China as released a list of the top five sources of online fraud. They are as follows- <ol><li>Brushing</li><li>False Investment</li><li>Money Management</li><li>Dodgy loan scheme</li><li>Impersonation of customer service</li></ol>‘Brushing’, a type of e-commerce scam has topped the list. It lures the victim to make payments for goods or any shipment that was never delivered or only delivered when buyers perform certain online tasks like creating an e-commerce profile or downloading dodgy apps. Buyers may be also asked to pay more for goods. Using the ‘Brushing’ technique e-commerce vendors send small items which victims never ordered. Vendors also use this technique to write positive product reviews to increase visibility on e-commerce platforms. The list is followed by false investment and money management. Scammers use false investments, promising high rates of return with little risk. This type of fraud is very much similar to pyramid schemes. Dodgy loan schemes and impersonation of customer service operatives are the last two common online scams in China. Chinese Ministry of Public Security has warned citizens not to fall for these online scams following with month-long anti-fraud campaign. How common are these frauds in India? In recent years, India has witnessed a dramatic rise in cybercrimes. Online fraud schemes and phishing scams have become prominent in India. In 2020, Telangana had the highest number of fraud offences related to online banking. In total, <a href="https://www.thehindu.com/news/national/india-reported-118-rise-in-cyber-crime-in-2020-578-incidents-of-fake-news-on-social-media-data/article36480525.ece">India recorded 50,035 cybercrime</a> and fraud cases in 2020, an 11.8% surge when compared to 2019. A large number of cases were for online banking fraud, OTP frauds, credit/debit card fraud and ATM-related frauds. Keeping numbers in mind we can assume, that India still struggles with awareness when it comes to online banking frauds. Moreover, general public awareness and campaigns can contribute to the prevention of online fraud in India. Other than these, cybercriminals use a variety of strategies like phishing and spoofing, data breach, denial of service, malware, ransomware, and many more. If you think you have been scammed then change all your passwords and delete suspicious software. If you observe unwanted credit card transactions, immediately call the credit card company to prevent yourself from further loss. Following these simple steps can prevent you from online scams. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/sony-announced-the-upcoming-playstation-plus-games-lineup-for-india/articleshow/91610565.cms">Sony announced the upcoming PlayStation Plus games lineup for India - here’s the complete list</a> <a href="https://www.businessinsider.in/science/space/news/astronaut-shares-breathtaking-photos-of-moon-during-lunar-eclipse/articleshow/91614867.cms">Watch: Astronaut shares breathtaking photos of the moon as seen from space during Lunar Eclipse</a>

China has released its list of top five sources of online fraud in 2022

The <keyword id="55119" type="General" weightage="50" keywordseo="indian-institute-of-technology" source="Orion">Indian Institute of Technology</keyword>, <keyword id="6357478" type="General" weightage="100" keywordseo="kanpur" source="Orion">Kanpur</keyword> (IIT-K), will provide an indigenously designed tool to help the <keyword id="6357713" type="General" weightage="50" keywordseo="uttar-pradesh" source="Orion">Uttar Pradesh</keyword> police in detection and cracking of cases of fraud through cryptocurrency transactions. Professor Sandeep Shukla from <keyword id="6354859" type="General" weightage="80" keywordseo="iit" source="Orion">IIT</keyword>-Kanpur, said that the tool developed by IIT, known as HOP, can analyse cryptocurrency transactions. "The tool is cheaper than any foreign equipment. By September, our tool will be ready to serve the UP police and help in investigations in cases of <keyword id="6372331" type="General" weightage="20" keywordseo="cryptocurrency-fraud" source="Orion">cryptocurrency fraud</keyword>," said Shukla. ADG, Cybercrime, Subhash Chandra, emphasised on the need for cybercrime awareness programmes and capacity-building for police departments to prepare to counter the menace. "We have taken action against 37,000 accounts, banks and cards, and also recovered Rs 9.5 crore in a year," said Chandra. SP, Cybercrime, Triveni Singh said that the specific programme is an initiative of MHA and Uttar Pradesh Police and the first such event to spread cyber safety awareness and capacity-building for police departments. He said that basic skills and methodologies are required for investigation of VOIP-based calls that have become prevalent in extortion cases. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-1-to-launch-in-india-on-july-12/articleshow/92082734.cms">Nothing phone (1) to launch in India on July 12 – here’s everything you need to know about the smartphone</a> <a href="https://www.businessinsider.in/cryptocurrency/news/around-90-million-users-flocked-to-crypto-bandwagon-in-march-2022-report/articleshow/92081565.cms">Around 90 million users flocked to crypto bandwagon in March 2022: Report</a> <a href="https://www.businessinsider.in/cryptocurrency/news/6-of-cryptos-loudest-opponents-that-you-should-know-about-from-dogecoins-co-creator-to-a-star-of-the-oc/articleshow/92091296.cms">6 of crypto's loudest opponents that you should know about, from Dogecoin's co-creator to a star of 'The OC'</a>

You Searched For "cyber fraud india" and got 11 results

Removed Angel Tax, taking policy measures to promote fintech sector: PM Modi

PTI

Govt warns about fake SMS asking users to update their PAN – what it is and how to stay safe

Sourabh Jain

Online financial crimes on the rise – How to secure your digital world

Anagh Pal

Banks, RBI keeping close watch to tackle cyber fraud: Sitharaman

IANS

Over 100 websites blocked for facilitating organised illegal investments

PTI

Black Friday: The sales, scams and myths

Eetika Kapoor

Flipkart partners with Bajaj Allianz to offer cyber fraud insurance for online transactions

IANS

Crypto scammers have reportedly stolen ₹1000 crore off Indian users by posing as fake exchanges

BI India Bureau

Indian police stations are struggling to access computers as cybercrime zooms

Preeti Soni

China has released its list of top five sources of online fraud in 2022

Rahul Verma

IIT Kanpur develops tool to help investigate cryptocurrency fraud

IANS

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