Whether OTP based Banking transaction can be considered 100% safe? - NewGenx_Technological Frauds

#cybercrime #cyberforensics #otpsms #banking #fraudprevention #fraudstars #conmen #economicloffenses #Jamtara #Jharkand #ransomeware #technologicalfrauds

WORRY !! WORRY !! WORRY !!

CYBER CRIMINALS MAY HAVE ALREADY TAKEN YOUR SMART DEVICES UNDER THEIR 100% ACCESS !!

Let's check it out NOW, HOW ........

Say, one fine morning, like any other regular day, you started yours with a few important money transfers. And while trying to transfer money, you are stuck with the fact that no OTP is received at your end. UNDERSTAND THAT .....

If you're doing financial transactions and not receiving any OTP or SMS on your smartphone, you may have fallen victim to hackers.

In the most recent development, hackers are now using a two-way authentication system and even mobile applications, which are commonly used as a commodity, to steal your personal data like WhatsApp

MODUS OPERANDI 1: "SMS REDIRECT" is the name of this brand-new way to get financial information through an SMS OTP. Users should be very concerned about this hacking feature.

WHAT IS SMS REDIRECT ?

Hackers may effortlessly divert all of your devices' messages, OTPs, and SMS to their phones via SMS redirect. Even hackers may quickly access all of your financial information using this method. In this technological gimmick of cybercrime, these con stars are all using an SMS re-route service, which costs about $16 (about Rs 1,200). These days many online businesses often don't ask clients for permission before using SMS reroute services, demonstrating the allowance to cyber criminals to how reckless they may become.

These hackers are rerouting crucial text messages, including those carrying OTP or login links for applications like WhatsApp, by taking advantage of security weaknesses. They may intercept data, reroute SMS messages intended for your smartphone, and carry out the assault in such a manner that the target is not even aware that he is being targeted. Your WhatsApp information will go out.

Nevertheless, this kind of hacking, which mostly targets OT, SMS, and WhatsApp accounts, has just recently begun to occur in the US.

RECENT UPDATES ON CYBER OFFENSE AT NATIONAL CAPITAL: Report.

A Man gets several blank calls, shortly after, to find that his Rs. 50L has been taken from his account. One of the largest cybercrime scams in terms of value where an individual was targeted from the national capital occurred in Delhi a few days ago, when a director of a security services organization lost Rs 50 lakh to crooks who stole from him only via blank calls.

In one of the leading News Daily, The Times of India, it was reported that the victim got many calls over the course of fewer than two hours and only to discover several RTGS transaction notifications shortly after. The victim said he disregarded the calls because he was unable to hear the other party. According to the investigation, around Rs 12 lakh was sent to one account, that of one Bhaskar Mandal, while Rs 10 lakh went to each of the other accounts, and Rs 4.6 lakh was transferred to one Avijit Giri.

The general public in the nation has regularly heard a repeated message as never to divulge personal information, including PINs and OTPs, but what if you were also cautious of those, and still victimized? The recommendation is that you should now be more educated.

MODUS OPERANDI 2: Cops now is forced to believe that the fraudsters may have used a new Technological mode of the Commission of Crime, namely, the "SIM SWAP" tactic.

WHAT IS SIM SWAPPING ?

In this technologically assisted Cyber Crime offense, the Cyber fraudsters and the Con artists exploit a WEAKNESS in a two-factor authentication system where the second step requires a text message or phone call.

A police officer reported that in this fraud, the cybercrime con artists shall also get in touch with victims' mobile phone providers and convince them to activate a SIM card. After this entire PSYCHO-SOCIAL TECHNOLOGICAL MECHANISM, they seize custody of that phone. There is also a probability that online thieves could have also been using a PARALLEL CALL TO LISTEN TO THE OTPS over the PHONE, added by another police officer to TOI.

The Investigating Cops are also looking at other possibilities, such as a PHONE HIJACK. According to the TOI report, the con artists may be located in Jamtara, a town in Jharkhand, and individuals whose accounts the monies were moved to may have just provided them in exchange for a fee or on rent.

Not limited to this act of offense only, these claims of fraud follow a significant cyberattack, in which servers at the All India Institute of Medical Sciences (AIIMS) in Delhi were taken down for at least seven days as a result of ransomware.

The Indian Council of Medical Research (ICMR) saw over 6,000 hacking attempts in less than 24 hours on November 30—one week after the ransomware assault on AIIMS.