Global Cyber Pulse: 16th October, 2024

October 16, 2024 | Cybersecurity
By Ashwani Mishra, Editor-Technology, 63SATS

Prime Minister Modi calls for a global AI rulebook to ensure ethical use of technology, Hong Kong police bust a deepfake fraud ring targeting victims with AI face-swapping, a cyberattack on Calgary Public Library forces service restrictions, Iranian cyberattacks surge as the Israel-Hamas conflict escalates, according to a Microsoft report, and India ranks second in ransomware attacks across Asia Pacific, reports Zscaler.

Stay tuned for more updates in the world of cybersecurity.

Prime Minister Modi Calls for Global AI Rulebook to Ensure Ethical Use of Technology

In a decisive appeal for international cooperation, Prime Minister Narendra Modi stressed the need for a global framework governing the ethical use of digital technologies and AI.

Speaking at the International Telecommunication Union – WTSA and India Mobile Congress, Modi urged world leaders to unite in setting clear guidelines as the world grows increasingly interconnected. He emphasized that with the surge in cyber threats, security and ethical standards must take center stage. His call was rooted in the belief that global institutions need to develop rules that ensure not only privacy protection but also the responsible use of digital tools in the face of mounting threats like disinformation and cyberattacks.

Hong Kong Police Bust Deepfake Fraud Ring Targeting Victims with AI Face-Swapping

Hong Kong police have arrested 27 individuals involved in an elaborate romance scam operation that used AI face-swapping technology. The scammers lured victims into fake cryptocurrency investment schemes, amassing $46 million through fraudulent trading platforms. Using AI-generated photos of attractive personas, the syndicate preyed on unsuspecting social media users.

This latest bust highlights the growing risks of AI-enhanced fraud in online romance scams, as authorities crack down on the misuse of advanced technology for financial crime.

Cyberattack on Calgary Public Library Forces Service Restrictions

A cyberattack on the Calgary Public Library has led to restricted access to services across its 22 branches, affecting the city’s 1.3 million residents. The breach, which was announced last Friday, prompted the closure of library systems and the disabling of computers.

While the library plans to reopen with limited services, the disruption highlights the vulnerability of public institutions to cyber threats. The library’s IT team is currently working to contain the attack while an investigation is underway, underscoring the escalating threat to public infrastructure in the digital age.

Iranian Cyberattacks Surge as Israel-Hamas Conflict Escalates, Says Microsoft Report

Since the outbreak of the Israel-Hamas war, Iran has ramped up its cyber operations against Israeli targets, according to a report by Microsoft. Between October 2023 and July 2024, nearly half of all Iranian cyber activities targeted Israel, a stark contrast to the pre-conflict period when most attacks focused on the U.S. and UAE.

In addition to social media influence campaigns aimed at destabilizing Israel, Iranian cyber groups launched a series of digital attacks, further intensifying the threat landscape in the Middle East.

China Accuses U.S. of Fabricating Volt Typhoon Amid Rising Cyber Tensions

In a fierce rebuke, China’s National Computer Virus Emergency Response Center accused the U.S. of fabricating the Volt Typhoon threat actor to deflect attention from its own cyber espionage activities. The allegations follow claims from Five Eyes nations that Volt Typhoon, a China-based group, was responsible for widespread cyberattacks.

China, however, asserts that the U.S. has been conducting false flag operations to conceal its own global surveillance network and that it has engaged in supply chain attacks. This confrontation is part of a broader cyber tension between the two superpowers.

India Ranks Second in Ransomware Attacks Across Asia Pacific, Reports Zscaler

India has emerged as one of the top targets for ransomware attacks in the Asia Pacific region, ranking second, according to Zscaler’s 2024 Ransomware Report.

The report highlights a global 18% rise in ransomware incidents, with India’s manufacturing sector bearing the brunt, accounting for 29% of attacks. The surge in ransomware poses a significant threat to critical sectors such as healthcare, finance, and technology. With a record ransom payment of $75 million made to the Dark Angels ransomware group, the findings underscore the need for heightened cybersecurity across industries to mitigate growing risks.