Cybersecurity Weekly Newsletter
Date: April 23, 2025 - April 28, 2025
1️⃣SBI Warns Public of Deepfake AI Scam Videos Promoting Fake Investment Schemes
The State Bank of India (SBI) has issued a warning about deepfake videos circulating on social media that falsely promote a government-backed AI investment platform with unrealistic returns.
🔹 Scammers use AI to impersonate public figures and senior officials.
🔹 The videos falsely link SBI and the Government of India to fraudulent schemes.
🔹 SBI urges people to verify all claims via official channels only.
🔹 The bank reaffirms it does not endorse any high-return investment platforms.
Key Message:
Stay vigilant—don’t trust investment offers in deepfake videos. Always cross-check with SBI's official website or branches to avoid falling victim to fraud.
2️⃣ Ransomware Surge: 80% of Indian Firms Paid Hackers in 2024
A new report reveals that 80% of Indian organizations hit by ransomware in 2024 paid a ransom, often due to data extortion or compromised backup systems.
🔹 52% paid to stop data leaks; 44% faced backup failures.
🔹 29% suffered financial loss; 31% saw reputational damage; 36% had leadership shake-ups.
🔹 Securing data across hybrid environments remains a major challenge.
🔹 Experts urge urgent upgrades to data security and ransomware defenses.
Key Message:
The rising ransomware trend demands stronger cybersecurity strategies and resilient data protection—especially across hybrid cloud setups.
3️⃣Pune IT Firm Loses ₹6.5 Crore in Man-in-the-Middle Cyber Fraud
A Pune-based company lost ₹6.5 crore in a Man-in-the-Middle (MitM) attack after fraudsters altered email and bank details during a transaction with a U.S. dry fruit exporter.
🔹 Attackers intercepted and modified emails, redirecting payment to fake accounts.
🔹 ₹6.5 crore was sent in five parts before the scam was detected.
🔹 An FIR has been filed; efforts are ongoing to recover the remaining ₹3 crore.
🔹 Authorities urge businesses to adopt multi-layered security and verification protocols.
Key Message:
Even seasoned businesses are vulnerable—strict verification and cybersecurity training are essential to avoid financial cyber fraud.
4️⃣WhatsApp Display Picture Scam Costs Mumbai Firms ₹1.6 Crore
Cybercriminals cloned WhatsApp DPs of company directors to impersonate them and scam two Mumbai firms out of ₹1.6 crore.
🔹 A pharma employee transferred ₹1.3 crore, mistaking a fraudster for the director; ₹18.1 lakh was recovered.
🔹 An accountant transferred ₹30 lakh before realizing the scam when asked for more money from her own account.
🔹 Scammers used new numbers with cloned DPs to seem authentic.
Key Message:
Employees must verify fund requests via official channels—never rely solely on WhatsApp or profile photos.
5️⃣ 🇮🇳 I4C Gets PMLA Powers to Tackle Cyber Financial Crimes
In a major move, the Indian Cybercrime Coordination Centre (I4C) has been empowered under the Prevention of Money Laundering Act (PMLA) to bolster India's fight against cyber-enabled financial crimes.
🔹 I4C can now coordinate and share data with enforcement agencies.
🔹 Focus areas include banking fraud, online gaming, and betting scams.
🔹 Though it lacks prosecutorial powers, I4C’s intelligence support will aid the Enforcement Directorate.
Key Message:
This decision strengthens India’s cybercrime response infrastructure and aims to create a more secure digital economy.
Read moreStay Safe. Stay Informed. Stay Ahead — with CYBE.
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