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DOJ Disrupts Major Myanmar-Based Scam Targeting TickMill Users

 


Taking action to demonstrate the United States' commitment to combating transnational cyber-fraud networks, the Department of Justice has announced a decisive seizure of tickmilleas.com, a domain allegedly used by a sophisticated cryptocurrency investment scam originating in Burma, as a decisive step to underscore its intensifying campaign against cyber-fraud networks. 

Investigators have determined that the site, linked to the notorious Tai Chang scam compound, a hub favored by Burmese groups previously designated by the U.S Treasury for connections to Chinese organized crime and large-scale Southeast Asian scam operations, was intentionally crafted to lure foreign investors with fabricated promises of high returns, based on fabricated information provided to the investigators. A further manipulation took place to induce the victim to download fraudulent mobile applications that were part of the scheme's broader ecosystem. 

Law enforcement authorities have already taken coordinated actions that led to the removal of malicious apps from major app stores and the eradication of more than 2,000 scam-related accounts across Meta platforms as a result of coordinated actions. A renewed global alert has also been issued by Interpol, warning that such criminal activities are rapidly on the rise due to the rapidly developing use of technology and, in some cases, trafficking of forced labor in order to sustain these criminal enterprises. 

Using a counterfeit platform, the scammers deceived their victims into transferring their savings, and they usually presented fabricated dashboards that showed handsome, albeit fictional, gains from their investments, using the counterfeit platform. 

A number of victims reported seeing supposed deposits that were entered by the criminals themselves, according to the FBI. This was done in order to create the appearance that the money would be in a good position and to encourage further contributions. Even though the domains were registered only in early November 2025, investigators have already identified multiple individuals who have been induced to contribute cryptocurrency to the scam in recent weeks. 

Additionally, users were directed to download mobile applications which were alleged to be related to the platform through the website, prompting the FBI to alert both Google and Apple; some of the fraudulent apps have since been removed from the market. As the domain has been seized, visitors are met with an official law enforcement notice, eschewing what once looked like an impressive facade for an international fraud operation.

As the FBI San Diego Field Office continues its investigations, as well as the newly formed Scam Center Strike Force, it has been revealed that the seized domain was not an isolated fraud, but rather an extension of a scam infrastructure in Southeast Asia which is well-entrenched in the digital world. Tickmilleas.com, a website that sells pig meat and related products, was identified by authorities as having been built inside the Tai Chang compound in Burma, a fortified enclave located on the Thai-Myanmar border known for violent enforcement tactics, coerced labor, and large-scale "pig butchering" schemes. 

Associated with the Democratic Karen Benevolent Army, this compound has become a central engine within a multibillion dollar fraud economy, which targets Americans through sophisticated cryptocurrency investment traps that are disguised as professional trading platforms operated by affiliates of the Democratic Karen Benevolent Army, as well as broader Chinese transnational crime syndicates.

In order to be convincing to the victims, the website which was taken down by U.S. officials was designed as a convincing imitation of the legitimate TickMill trading service. It was decorated with fake trading dashboards, staged deposits, and fraudulent mobile applications aimed at luring victims deeper into the con. The investigators noted that there was a high degree of trafficking among the individuals working for the scam, as they were forced to engage in scripted interactions that were meant to reassure victims and extract increasing amounts of money from them. 

Despite the domain having been active for just a short time, federal agents were able to quickly map its infrastructure, identify the investors who had been deceived, and cut off the digital channels used for siphoning funds within minutes of its activeness. There had been three successful domain seizures linked to Tai Chang within the past few weeks, with the rapid intervention marking the third in the region—a sign that the U.S. efforts are becoming more aggressive, and the criminal networks operating around the region are experiencing a greater degree of disruption.

These operations are part of a broader criminal ecosystem known as pig butchering, which is a long-con scam in which perpetrators build trust with victims before stealing from them their savings. Officials from the U.S. estimate that these types of fraud schemes are draining approximately $9 to $10 billion from Americans every year, underscoring both their scale and sophistication in the way they are developed and executed. 

However, the human cost of such fraud schemes goes far beyond financial loss. Human rights groups, investigators, and experts have all repeatedly gathered evidence that a substantial number of these scam centers' staff members are trafficking victims who have been coerced, threatened, and violently forced into participating. As a result of the expansion of scam compounds across parts of Southeast Asia, it is reportedly estimated that they account for a substantial share of the country's economic output as well. 

According to the FBI's Internet Crime Complaint Center, there were more than 41,000 reports of cryptocurrency investment fraud in 2024, involving losses of over $5.8 billion, but investigators believe that the actual numbers don't even come close to the true damages, as many victims are too embarrassed or scared to come forward. 

A growing number of cross-border fraud networks are being uncovered by U.S. authorities. Officials are warning the public to be vigilant against platforms that promise effortless returns or encourage the download of unfamiliar apps - tactics that have been repeatedly used in these types of schemes. Experts note that if early skepticism, independent verification, and prompt reporting are utilized, they can significantly reduce the reach of such criminal organizations. 

Despite the fact that tickmilleas.com has been dismantled, investigators stress the importance of sustained international cooperation and ensuring that consumers remain informed in order to disrupt the larger ecosystem that provides the basis for these schemes to flourish.

North Korean APT Collaboration Signals Escalating Cyber Espionage and Financial Cybercrime

 

Security analysts have identified a new escalation in cyber operations linked to North Korea, as two of the country’s most well-known threat actors—Kimsuky and Lazarus—have begun coordinating attacks with unprecedented precision. A recent report from Trend Micro reveals that the collaboration merges Kimsuky’s extensive espionage methods with Lazarus’s advanced financial intrusion capabilities, creating a two-part operation designed to steal intelligence, exploit vulnerabilities, and extract funds at scale. 

Rather than operating independently, the two groups are now functioning as a complementary system. Kimsuky reportedly initiates most campaigns by collecting intelligence and identifying high-value victims through sophisticated phishing schemes. One notable 2024 campaign involved fraudulent invitations to a fake “Blockchain Security Symposium.” Attached to the email was a malicious Hangul Word Processor document embedded with FPSpy malware, which stealthily installed a keylogger called KLogEXE. This allowed operators to record keystrokes, steal credentials, and map internal systems for later exploitation. 

Once reconnaissance was complete, data collected by Kimsuky was funneled to Lazarus, which then executed the second phase of attacks. Investigators found Lazarus leveraged an unpatched Windows zero-day vulnerability, identified as CVE-2024-38193, to obtain full system privileges. The group distributed infected Node.js repositories posing as legitimate open-source tools to compromise server environments. With this access, the InvisibleFerret backdoor was deployed to extract cryptocurrency wallet contents and transactional logs. Advanced anti-analysis techniques, including Fudmodule, helped the malware avoid detection by enterprise security tools. Researchers estimate that within a 48-hour window, more than $30 million in digital assets were quietly stolen. 

Further digital forensic evidence reveals that both groups operated using shared command-and-control servers and identical infrastructure patterns previously observed in earlier North Korean cyberattacks, including the 2014 breach of a South Korean nuclear operator. This shared ecosystem suggests a formalized, state-aligned operational structure rather than ad-hoc collaboration.  

Threat activity has also expanded beyond finance and government entities. In early 2025, European energy providers received a series of targeted phishing attempts aimed at collecting operational power grid intelligence, signaling a concerning pivot toward critical infrastructure sectors. Experts believe this shift aligns with broader strategic motivations: bypassing sanctions, funding state programs, and positioning the regime to disrupt sensitive systems if geopolitical tensions escalate. 

Cybersecurity specialists advise organizations to strengthen resilience through aggressive patch management, multi-layered email security, secure cryptocurrency storage practices, and active monitoring for indicators of compromise such as unexpected execution of winlogon.exe or unauthorized access to blockchain-related directories. 

Researchers warn that the coordinated activity between Lazarus and Kimsuky marks a new phase in North Korea’s cyber posture—one blending intelligence gathering with highly organized financial theft, creating a sustained and evolving global threat.

Bengaluru Software Engineer Loses Rs 44 Lakh in Fake Stock Trading Scam

Cybercriminals are using increasingly sophisticated tricks to target unsuspecting citizens, and a recent case in Bengaluru highlights just how dangerous these scams can be. A 46-year-old software engineer from Horamavu lost ₹44 lakh after being lured into a fake stock trading scheme that began with a deceptive medical emergency alert. 

The victim, identified as Jayaraj (name changed), received a Telegram message on July 11 claiming that someone was critically ill and needed immediate help at a hospital. Believing the message had been sent to the wrong number, Jayaraj responded politely, advising the sender to check the contact. The sender, who introduced herself as Reeva Chauhan, thanked him and gradually began engaging in casual chats. 

Their conversations soon moved from Telegram to WhatsApp, where voice calls and regular interactions helped Reeva gain Jayaraj’s trust. Over time, she presented herself as an employee of a stock trading company and convinced him that she could help him earn quick profits through investments. On July 31, she introduced him to a trading platform called OSL Trade and assisted him in creating an account. Jayaraj was persuaded to invest ₹50,000 as an initial amount. 

Within a short span, he saw a credit of ₹4,950 to his bank account, which reassured him that the platform was legitimate. Encouraged by the apparent returns, he began investing larger sums over the next month. Between August 1 and September 17, Jayaraj transferred ₹44.2 lakh in three separate transactions—₹20 lakh, ₹12 lakh, and ₹12.2 lakh—to bank accounts provided by the fraudsters. His trading dashboard displayed mounting profits, with a balance showing nearly ₹24 lakh. 

However, when he attempted to withdraw the money, the system denied the request, demanding additional investments to unlock the funds. When Jayaraj explained that he had no more money to invest, communication from Reeva and the fraudsters abruptly stopped. Realizing he had been duped, he immediately contacted the national cybercrime helpline and filed a formal complaint with the East CEN Crime police on September 22. 

Authorities have registered a case under the IT Act and Section 318 of the Bharatiya Nyaya Sanhita (cheating). Police officials stated that efforts are underway to identify the perpetrators, trace the fraudulent accounts, and freeze any remaining funds before they can be siphoned off. 

This incident underscores the growing risk of online investment fraud, where criminals exploit trust and emotional manipulation to steal vast sums from victims. Police have urged citizens to remain vigilant, verify investment platforms carefully, and avoid engaging with unsolicited messages promising financial gains.

Scattered Spider Broadens Attack Techniques in Latest Cyber Incidents

 


Known by aliases such as UNC3944, Scatter Swine, and Muddled Libra, Scatter Spider is an extremely persistent and adaptable cybercriminal group focused on financial gain. In the current cyber threat environment, the Scatter Spider group stands out as one of the most persistent and adaptive threat actors. Having been active since May of 2022, the group has built a reputation for targeting high-value organisations in several sectors, including telecommunications, outsourcing companies, cloud providers, and technology companies. 


A deliberate strategy to exploit industries that have large customer bases and complex IT infrastructure has been demonstrated by their focus on expanding further in recent months to include retail giants, financial institutions, and airlines. 

Scattered Spider is known for its sophisticated use of social engineering, specifically utilising the manipulation of IT help desks to gain unauthorised access to enterprise networks. That is why Scattered Spider has become one of the world's leading social engineering firms. As a result of this approach, the group has been able to bypass conventional perimeter defences and move laterally inside victim environments with alarming speed and precision, often without any detection. 

Despite the group's continuous evolution, both in terms of their technical abilities and their operational scope, recent breaches involving large UK retailers and airline companies highlight their continued evolution. A cybersecurity practitioner is strongly advised to gain a deeper understanding of the evolving techniques used by Scattered Spider because their operations are escalating in frequency and impact. 

It is vital to implement proactive defence measures to combat the threat posed by this increasingly sophisticated adversary, including training employees on security risks, implementing rigorous access controls, and monitoring the network continuously. With Scattered Spider, there is a significant shift in the threat landscape since it emphasises identity-based attacks over technical exploits, which represents a disruptive shift in the threat landscape that differs from traditional threat actors who tend to exploit technical vulnerabilities and deploy advanced malware. 

They use social engineering as their main attack vector rather than zero-day vulnerabilities, which means their operations are rooted in human manipulation rather than zero-day vulnerabilities. They typically attack outsourced IT services providers and help desks as their entry points. They usually pose as legitimate employees and exploit routine support workflows by impersonating them. 

With the help of social engineering, Scattered Spider bypasses many conventional security controls and gains privileged access to any network with minimal resistance. Once within a network, Scattered Spider does not rely on complex backdoors or stealthy implants to gain access to the network. By exploiting identity systems, they can move laterally and escalate privileges by utilising legitimate credentials and internal knowledge.

In addition to their ability to mimic internal users, use company-specific jargon and employ familiar tools, they are able to blend seamlessly into normal operations with ease. Despite the fact that it is common for commonly trusted administrative tools like PowerShell, remote monitoring and management (RMM) platforms, and cloud service provider consoles to be misused, detecting these threats can be a challenge. Scattered Spider performs independent attacks regularly.

It has been linked to notorious ransomware collectives such as ALPHV (BlackCat) and DragonForce and often acts as an initial access broker or even the operator of the attack, although their alliances are only opportunistic at best. Throughout their history, the group has demonstrated a willingness to abandon or undermine partners if that would serve their own objectives. This is an unpredictable behaviour that has earned them a reputation for being volatile. In their operations, Scattered Spider has demonstrated agility, resourcefulness, and defiance towards conventional hierarchies, the mindset of a rogue start-up. 

The combination of this unpredictability with their deep knowledge of enterprise environments makes them a formidable adversary that is unique in the industry. As a result of recent developments, Scattered Spider has been increasing its operational reach, which has heightened concerns within the cybersecurity community. In a public statement shared with me via LinkedIn, Sam Rubin, a representative of Palo Alto Networks' Unit 42, confirmed that the threat actor has been actively targeting the aviation sector for some time. 

The expert stressed that organisations, particularly those within critical infrastructure and transportation sectors-have to remain vigilant against sophisticated social engineering campaigns. Specifically, Rubin advised that suspicious requests for multi-factor authentication resets (MFA) were becoming increasingly common among identity-centric intrusion groups, a hallmark of their approach to identity theft. 

Similarly, Google's cybersecurity company Mandiant echoed these concerns as it observed Scattered Spider's activities as well. In response to this, Mandiant also issued a warning. In its recent report, Mandiant highlighted a pattern of attacks affecting airline and transportation companies in the U.S., as well asthe  recent targeting of companies within the U.S. insurance industry. 

As the firm says, the numerous incidents of this group closely align with its established method of operation, particularly in terms of impersonation, identity abuse, and exploitation of IT support workflows, which are all part of the group's established modus operandi. It is clear that Scattered Spider is continuing to broaden its attack surface and has increasingly targeted industries that handle large amounts of personal and financial data, as well as those that have intricate supply chains and third-party dependents that need to manage large amounts of sensitive data. 

In late June of 2025, Scattered Spider demonstrated an even more dramatic strategic shift as it aggressively focused its efforts on the global aviation industry. In a matter of hours, what seemed like isolated and unconfirmed cyberattacks on a few airlines quickly escalated into a coordinated series of cyberattacks that had global repercussions. 

A report issued by the Federal Bureau of Investigation (FBI) confirmed that the Scattered Spider was targeting major airline operators as well as the general public in an official advisory. This alert occurred at a time when two prominent Canadian carriers, WestJet, as well as Hawaiian Airlines, experienced disruptions caused by suspected cyberattacks, both of which experienced service interruptions as a result of these cyberattacks. 

Additionally, Australia’s flagship airline, Qantas, also recently reported a significant security breach that was allegedly perpetrated by a third-party service provider. One of the systems compromised was the call centre platform used to handle customer service, highlighting a recurring pattern in Scattered Spider's operations: exploiting the weakest links in the supply chain to achieve its objectives. 

Approximately 6 million Qantas passengers' sensitive data was accessed by hacker groups, including their full names, contact information, birth dates, and frequent flyer numbers, and was exposed in this manner. In spite of the fact that no financial or passport information was reported to have been taken, the breach underscores the dangers associated with third-party access points in highly interconnected environments. 

A preliminary investigation into each of these three incidents revealed that the threat actors used a phone-based phishing technique that is commonly known as "vishing" in order to manipulate airline IT departments and contractors in all three incidents. It was aimed at obtaining VPN credentials and resetting Multi-factor authentication (MFA) security settings in order to impersonate internal employees and escalate privileges within corporate systems by impersonating internal employees. 

Rather than relying on traditional technical exploits, Scattered Spider takes advantage of the trust placed in third-party vendors, such as those able to manage ticketing systems, call centres, and backend IT services. In addition to a deep understanding of aviation operations, Scattered Spider's tactical preference is to attack through a social engineering-based and identity-based attack vector rather than a traditional technical attack vector. 

Scattered Spider has been evolving its operational sophistication, and its focus is increasingly on high-ranking executives, according to a recent report from security firm ReliaQuest. In an incident disclosed last Friday, a threat group infiltrated an unidentifiedorganisationn by targeting its Chief Financial Officer (CFO), who is a role that is generally granted access and authority to the organization. 

As stated by ReliaQuest, the attackers conducted extensive reconnaissance to map the CFO's digital footprint before launching a highly targeted social engineering campaign to compromise the CFO's identity and credentials. The attackers succeeded in persuading staff members to reset the multi-factor authentication device linked to the account in order to start the intrusion process. 

They impersonated the CFO and reached out to the IT help desk in order to convince them that their account could not be protected. In the course of verifying their identity via the company's public login portal, they used previously collected information, including the CFO's birthdate and the last four digits of his Social Security Number, further legitimising their access.

As a result of their broad privileges and the high priority that their support requests receive, Scattered Spider strategically targets C-suite executives as a target due to their strategic use of these systems, allowing them to successfully impersonate C-suite executives. With impressive speed and precision, the attackers were able to escalate privileges and move laterally across the organisation's infrastructure with remarkable speed and precision once inside the organisation by using the CFO's account. 

In the post-compromise activity, it was evident that the group had an extensive understanding of enterprise environments. In order to identify privileged accounts, groups, and service principals, they initiated Entra ID enumeration to establish a platform for escalation and persistence of privileges. Moreover, they performed a SharePoint discovery to determine where sensitive data was located and how business workflows worked, followed by compromising Horizon Virtual Desktop Infrastructure (VDI), which was accompanied by further account takeovers by social engineering. 

In order to ensure that remote access would remain uninterrupted, Scattered Spider breached the organisation's VPN network infrastructure. To access VMware's vCenter platform, the group reactivated and created new virtual machines that had been decommissioned. Using elevated access, they then compromised the CyberArk password vault, taking over 1,400 credentials. In addition to disabling a production domain controller, they also extracted the NTDS.dit database containing critical Active Directory information. 

They used legitimate tools such as ngrok for persistent remote access to compromised accounts to firmly establish themselves in control of compromised accounts. When the attackers were discovered, they switched tactics, deploying a destructive "scorched-earth" attack — deleting entire policy rule collections from Azure Firewall as well as causing significant disruptions in operations. 

It is clear from this incident that Scattered Spider is an incredibly adaptable and ruthless cybercriminal organisation, which reinforces its reputation as one of the most dangerous and unpredictable cybercriminals around today. In light of Scattered Spider's increasing activity and its increasingly tailored, identity-based attack strategies, organisations should reassess the security posture of their organisation beyond conventional perimeter defences and evaluate how resilient they are. 

The threat vectors posed by this group continue to exploit human behaviour, trust-based processes, and fragmented digital ecosystems, which require defenders to adopt a proactive and intelligence-driven approach to threat detection and response. To accomplish this, robust identity verification workflows must be implemented for privileged access requests, behavioural analysis of high-value accounts must be conducted regularly, and third-party risk management policies should be strengthened. 

Additionally, organisations need to ensure that cross-functional incident response plans are in place that take social engineering intrusions, privilege abuse scenarios, and other types of threat models into account-threat models that are no longer theoretical but operationally routine for adversaries such as Scattered Spider. 

There is no doubt that cybercriminals are evolving with startup-like agility, and so defenders must also adapt to meet these demands. It is important to work collaboratively, share threat intelligence, and foster an organisational culture in which security is not just a technical function, but a core responsibility of the organisation. 

Data loss is not the only issue that is at stake anymore-the stakes now include operational continuity, brand trust, and strategic resilience as well. Rather than simply building technical defences to protect against threats such as Scattered Spider, organizations should cultivate a culture of security resilience and go beyond technical defenses. 

The purpose of red team exercises that simulate identity-based attacks, aligning executive leadership, IT, and security teams around shared accountability, and conducting adversary emulation exercises to continuously validate security assumptions is all part of the process. Keeping an organisation safe from attackers, regardless of the level of trust they exploit, requires vigilance across all levels of the organisation - strategic, operational, and human. 

Organisations that have invested in adaptive, intelligence-driven defence programs are better equipped not only to withstand such threats, but also to recover quickly and decisively if they do occur. It is no longer about building higher walls when it comes to cybersecurity—it is about outsmarting the intruders already at the gate with your help. 

With Scattered Spider utilising surgical precision and manipulating human trust, hijacking identities, and exploiting operational vulnerabilities, organizations have to reconsider what resilience is really about. The era of static defenses has come to an end. In order to respond to incident effectively, security teams need to implement adaptive strategies based on intelligence, behavior analytics, and proactive incident management. 

In order to accomplish this, rigorous identity verification processes need to be implemented, privileged user behaviour needs to be continually monitored, and third-party integrations should be more tightly vetted—areas that are increasingly exploited by cybercriminals with startup-like agility. But resilience is more than just tools and tech. 

A shared responsibility exists between executive leadership, IT, and security operations. Simulated red-team exercises that mimic real-world identity breaches are effective at exposing hidden vulnerabilities while adversary emulation challenges long-standing security assumptions. In the end, if people are going to defend themselves against adversaries such as Scattered Spider, they must adopt a defensive-in-depth philosophy where they integrate people, process, and technology.

Those companies that are committed to investing in continuous readiness—not just in the prevention of a disaster, but also in responding to one when it happens and recovering from it—will be better positioned to counter tomorrow's threats and emerge stronger from them.

Australia's New Cyber Law Combats Emerging Threats

 


A new Cyber Security Act has been passed into law by the Australian government, which we should consider a very important step in our mission to protect Australians from threats posed by cyberspace. Having adopted this package, Australia will gain a cohesive legislative toolbox allowing the country to move forward with clarity and confidence in an ever-evolving cyber landscape as the law develops. Specifically, the Cyber Security Act enacts seven initiatives, first described in the Cyber Security Strategy, that will strengthen cyber security. 

A ransomware attack, also known as a crypto locker, remains one of the most common forms of cyberattack, and they are particularly dangerous because they can have such powerful effects. By 2031, it is estimated that the total cost of ransomware damage will exceed $265 billion in the world. The level of vulnerability of an organization to these attacks can vary from the smallest to the largest.

As part of the attack on Indonesia, a hacking group infected critical systems at a national data centre in July, causing over 230 government agencies and services to be down for about a week. During the past week, after the passing of Australia's first-ever Cyber Security Act, various measures have been introduced into the nation's defences to improve their security. 

A key provision of this legislation is that organizations are required to inform the government if they pay ransomware criminals - a practice that has gained popularity across the globe increasingly in recent years. Cyber Security Act 2013 is implemented under the Australia 2023-2030 Cyber Security Strategy. According to the policy, Australia was aiming to reposition itself as a leader in cyber resilience through some steps in the law, including the creation of a National Cyber Security Coordinator to coordinate a cohesive national response to cyber incidents. 

Australia's Cyber Security Minister Tony Burke made a statement in a media release regarding the Act, saying that it was "the cornerstone of the mission to protect Australians from cyber threats" and that "it forms a cohesive legislative toolbox which will enable Australia in the face of a rapidly evolving cyber landscape to move forward with clarity and confidence." 

As a result, experts have strongly urged IT leaders to update their cyber security incident response plans to take into consideration the legislative changes. Should a cyber security attack or crisis occur, they will need to communicate with the government in new ways to make sense of the confusing situation. A major change that has a direct impact on Australian organizations is the introduction of a mandatory reporting requirement for ransomware payments, as well as a new voluntary reporting regime for cyber incidents, which is intended to become mandatory over time as a consequence of the upcoming changes. 

There will be an obligation for organizations of a certain size to report ransomware payments to the government. According to the local law firm Corrs Chambers Westgarth, although the size threshold hasn't been determined, it's expected the mandate will apply to businesses with a sales turnover of more than AUD 3 million when the mandate becomes effective. The Department of Home Affairs and the Australian Signals Directorate are obligated to receive a report stating that a ransomware payment was made within 72 hours of receiving it.

Corrs is telling The Australian Financial Review that if organizations fail to report these payments, they could face a civil penalty of AUD $93,900, which is currently the value that Corrs is claiming. The report notes that despite the new mandate, the government's policy remains the same that organizations should not pay ransoms to avoid being held hostage. As per the government's view, paying ransoms to cyber-crime gangs does not contribute to the functioning of their business model, but rather only helps them keep their operations viable - and it cannot be guaranteed that organizations will be able to get their data back or keep it private from other people. 

With the new Act, a new framework was enacted for the voluntary reporting of cyber incidents, which was an excellent development. When an organisation suffers a cyberattack, the measure aims to encourage more free information sharing during those times when there is a risk of harm to other parties in the public and private sectors as well as a wider community, in order to benefit both.

In addition to the NCSC overseeing the system, any organization doing business in Australia can report incidents to the organization with the understanding that they are protected somewhat by a "limited use" obligation, which limits what the NCSC can do with the information it receives. As an example, it is important to note that by reporting a significant cyber security incident, the NCSC will be able to utilize the information for a variety of purposes under the law, such as preventing or mitigating threats to critical infrastructure and national security, and supporting intelligence agencies or law enforcement agencies, according to Corrs. 

As a result of the new regulatory obligations, organizations will have to adjust their plans in order to ensure compliance with the regulations. To ensure that these changes will be incorporated into future cyber security tabletop exercises, the CISOs and security teams will be vital in adjusting plans to account for these changes. According to Corrs, the trigger for a company to report a ransomware payment to the authorities is the payment itself rather than the fact that they receive a demand for payment from the victim.

In addition, this will have an impact on both how organizations manage these cyber decisions and how they choose to communicate them to their stakeholders. Those organisations that are classified as critical infrastructure companies under Australian privacy laws and the SOCI Act may also be required to report on an overlapping basis and within different timelines. In addition to that, if they are listed on the Australian Stock Exchange, they will be required to make continuous disclosures.

The Rising Threat of Payment Fraud: How It Impacts Businesses and Ways to Counter It

 

Payment fraud continues to be a significant and evolving threat to businesses, undermining their profitability and long-term sustainability. The FBI reports that between 2013 and 2022, companies lost around $50 billion to business email compromise, showing how prevalent this issue is. In 2022 alone, 80% of enterprises faced at least one payment fraud attempt, with 30% of affected businesses unable to recover their losses. These attacks can take various forms, from email interception to more advanced methods like deep fakes and impersonation scams. 

Cybercriminals exploit vulnerabilities, manipulating legitimate transactions to steal funds, often without immediate detection. Financial losses from payment fraud can be devastating, impacting a company’s ability to pay suppliers, employees, or even invest in growth opportunities. Investigating such incidents can be time-consuming and costly, further straining resources and leading to operational disruptions. Departments like finance, IT, and legal must shift focus to tackle the issue, slowing down core business activities. For example, time spent addressing fraud issues can cause delays in projects, damage employee morale, and disrupt customer services, affecting overall business performance. 

Beyond financial impact, payment fraud can severely damage a company’s reputation. Customers and partners may lose trust if they feel their financial information isn’t secure, leading to lost sales, canceled contracts, or difficulty attracting new clients. Even a single fraud incident can have long-lasting effects, making it difficult to regain public confidence. Businesses also face legal and regulatory consequences when payment fraud occurs, especially if they have not implemented adequate protective measures. Non-compliance with data protection regulations like the General Data Protection Regulation (GDPR) or penalties from the Federal Trade Commission (FTC) can lead to fines and legal actions, causing additional financial strain. Payment fraud not only disrupts daily operations but also poses a threat to a company’s future. 

End-to-end visibility across payment processes, AI-driven fraud detection systems, and regular security audits are essential to prevent attacks and build resilience. Companies that invest in these technologies and foster a culture of vigilance are more likely to avoid significant losses. Staff training on recognizing potential threats and improving security measures can help businesses stay one step ahead of cybercriminals. Mitigating payment fraud requires a proactive approach, ensuring businesses are prepared to respond effectively if an attack occurs. 

By investing in advanced fraud detection systems, conducting frequent audits, and adopting comprehensive security measures, organizations can minimize risks and safeguard their financial health. This preparation helps prevent financial loss, operational disruption, reputational damage, and legal consequences, thereby ensuring long-term resilience and sustainability in today’s increasingly digital economy.

E-Challan Fraud, Man Loses Rs 50,000 Despite Not Sharing Bank OTP

 

In a cautionary tale from Thane, a 41-year-old man, M.R. Bhosale, found himself embroiled in a sophisticated online scam after his father fell victim to a deceptive text message. The incident sheds light on the dangers of trusting unknown sources and underscores the importance of vigilance in the digital age. 

Bhosale's father, a diligent auto-rickshaw driver in Ghatkopar, received a seemingly official text message from the Panvel Traffic Police, notifying him of a traffic violation challan against his vehicle. The message directed him to settle the fine through a designated app called Vahan Parivahan, with a provided download link. Unbeknownst to him, the message was a clever ruse orchestrated by scammers to dupe unsuspecting victims. 

When Bhosale's father encountered difficulties downloading the app, he sought his son's help. Little did they know, their attempt to rectify the situation would lead to financial loss and distress. Upon downloading the app on his device, Bhosale encountered a barrage of One-Time Passwords (OTPs), signalling a red flag. Sensing trouble, he promptly uninstalled the app. 

However, the damage had been done. A subsequent check of his bank statement revealed unauthorized transactions totalling Rs 50,000. With resolve, Bhosale wasted no time in reporting the incident to the authorities. A formal complaint was filed, detailing the deceptive mobile number, fraudulent link, and unauthorized transactions. 

In response, the police initiated an investigation, invoking sections 66C and 66D of the Information Technology Act to pursue the perpetrators and recover the stolen funds. This unfortunate ordeal serves as a stark reminder of the prevalence of online scams and the importance of exercising caution in the digital realm. To avoid falling victim to similar schemes, users must remain vigilant and skeptical of unsolicited messages or unfamiliar apps. 

Blind trust in unknown sources can lead to devastating consequences, as Bhosale's family discovered firsthand. Furthermore, it is essential to verify the authenticity of communications from purported official sources and refrain from sharing personal or financial information without thorough verification. 

In an era where online scams abound, skepticism and diligence are paramount. As the investigation unfolds, Bhosale's story serves as a cautionary tale for all internet users. By staying informed, exercising caution, and seeking assistance when in doubt, individuals can protect themselves from falling prey to online scams.

Public WiFi Convenience Leads to Cyber Threats, Read to Know Everything

 

Cybersecurity experts are issuing a stern warning to Scots regarding the potential dangers lurking within public WiFi networks. While the convenience of accessing the internet on the go, such as during train commutes, may seem appealing, experts emphasize the significant cybersecurity risks that accompany such practices. 

One of the primary concerns raised by cybersecurity professionals is the phenomenon known as "session hijacking." In this scenario, cybercriminals exploit vulnerabilities present in public WiFi networks to gain unauthorized access to users' devices while they are browsing online. 

Let’s Understand ‘Session Hijacking’ in Simple Words 

Session hijacking, a prevalent cybersecurity attack, occurs when an attacker gains control of an individual's internet session while they are engaged in activities such as checking their credit card balance, paying bills, or shopping online. 

Typically, session hijackers target browser or web application sessions to perpetrate their attacks. Once a session hijacking attack is successful, the attacker gains the ability to perform any action that the victim could undertake on the targeted website. Essentially, the hijacker deceives the website into believing that they are legitimate users, thereby granting them unauthorized access and control over the victim's session.  And it can lead to various cyber-crimes and financial scams. 

Do You Know What Risks Lurking in Public WiFi Networks? 

Vincent van Dijk MSc a cybersecurity expert, warns individuals about the lurking dangers within public WiFi networks, highlighting three prevalent cyber threats: 

1. Man-in-the-Middle attacks 
2.  Evil Twin attacks 
3. Malware Present in Networks 

In a Man-in-the-Middle attack, hackers infiltrate the public network, intercepting data as it travels from a connected device to the WiFi router. Vincent explains the severity of this threat, stating, "If you are engaged in online banking during such an attack, hackers can easily access your passwords and account information. Your credit card numbers, email addresses, and other personal details become vulnerable to theft." 

Evil Twin attacks present another insidious threat. When users search for a public WiFi hotspot, they may encounter a fraudulent network pretending as a legitimate one. These malicious networks often bear names strikingly similar to authentic ones, such as 'Free University Wi-Fi2' or 'Station Wi-Fi04.' Therefore, connecting to these clones exposes users to scammers, compromising their private data and leaving them susceptible to exploitation. 

Further, Vincent explains that when hackers successfully infect a network with malware, they gain the ability to distribute harmful software bugs to any device connected to it. As a cautionary measure, he advises users to exercise caution if they encounter unexpected pop-up notifications while connected to such networks. Clicking on these pop-ups could inadvertently lead to exposure to infected links, putting users' devices and sensitive information at risk. 

Following the concerns related to public WiFi, experts suggested public to use Virtual Private Networks (VPNs) and verify network authenticity while using Public Wifi. By doing so users can mitigate the risks associated with public WiFi usage, safeguarding their sensitive information from cybercriminals.