Global Cyber Pulse: 29th October, 2024

October 29, 2024 | Cybersecurity
By Ashwani Mishra, Editor-Technology, 63SATS

Today’s global incidents reflect a troubling trend of cybercrime targeting financial systems, government infrastructure, and political entities worldwide.

The Union Home Ministry’s alert on money laundering gateways shows the increasingly sophisticated tactics used by global cybercriminal networks, while the JPMorgan Chase lawsuits reveal the vulnerability of even established banking systems to social media-fueled fraud.

In Europe, data breaches such as those experienced by French ISP Free and Italian government databases highlight growing risks in the telecommunications and public sector. Meanwhile, the Wichita County and Italian data leaks underscore systemic gaps in protecting personal information, exposing millions to potential identity theft and cyber risks.

On a geopolitical front, the Chinese hackers’ alleged access to U.S. political communications represents a significant escalation in state-affiliated cyber threats, emphasizing the need for robust cybersecurity measures to safeguard national interests. With cybercriminals and state actors targeting diverse sectors, from banking to elections, these incidents underscore the global urgency of bolstering cybersecurity across industries.

Cybercrime Networks Exploit Payment Gateways for Money Laundering, Warns Home Ministry

The Union Home Ministry recently warned about illegal digital payment gateways managed by transnational cybercrime networks using mule bank accounts to facilitate large-scale money laundering operations.

In raids across Gujarat and Andhra Pradesh, police uncovered cybercriminals using bank accounts rented from shell companies and individuals to operate gateways such as PeacePay, RTX Pay, PoccoPay, and RPPay. These gateways, created by foreign nationals, exploit bulk payout facilities provided by banks to launder proceeds from various illegal activities, underscoring the need for increased vigilance and regulation in digital finance.

JPMorgan Chase Fights Back Against Viral ATM Fraud ‘Infinite Money Glitch’

JPMorgan Chase has initiated lawsuits against fraudsters who exploited a glitch known as the “infinite money glitch,” which went viral on social platforms this summer, allowing perpetrators to withdraw funds from ATMs using fake checks. The glitch’s notoriety spread across X and TikTok, leading to significant losses for Chase as fraudsters deposited fraudulent checks and withdrew cash before the transactions could bounce. With lawsuits filed in Texas, Florida, and California, Chase’s spokesperson, Drew Pusateri, emphasized the bank’s commitment to accountability, saying, “Fraud erodes trust in the banking system, and we are working with law enforcement to ensure those responsible are held to account.”

Massive Data Breach at French ISP Free Exposes Personal Information of Millions

French telecom giant Free, the second-largest ISP in the country, confirmed a security breach that compromised personal information of over 22.9 million mobile and fixed-line customers. Following the breach, Free filed a criminal complaint and alerted French regulatory bodies, including CNIL and ANSSI. Free assured customers there was no operational impact on their services and emphasized that all immediate measures were taken to enhance security and prevent future incidents. Affected customers will be notified by email, highlighting growing cybersecurity risks in telecommunications.

Wichita County Cyberattack Leaks Sensitive Data of 47,000 Residents

In May, a cyberattack on Wichita County, Texas, exposed private and medical information for over 47,000 residents. The breach included Social Security numbers, financial and insurance details, and certain medical records. County officials completed a detailed investigation by September, working to identify the individuals impacted. In response, the county has offered two years of credit and dark web monitoring to affected residents, though concerns remain over the delay in disclosure. The attack underscores vulnerabilities in local government networks, especially as more personal data is digitized.

Italian Leaders Demand Data Security Over Breach Impacting 800,000 Citizens

Italian authorities have expressed outrage over a reported data breach impacting 800,000 citizens, allegedly orchestrated by a private investigative agency. The Milan prosecutor’s office discovered that the agency had accessed sensitive records from law enforcement and tax databases, allegedly compiling dossiers on top Italian business and political figures. Calling the breach “a threat to democracy,” Italian Foreign Minister Antonio Tajani urged immediate action, while opposition leaders demanded increased data security and transparency measures from the government to prevent further unauthorized access.

Chinese State Hackers Allegedly Intercept Phone Calls of U.S. Political Figures

Chinese state-affiliated hackers reportedly accessed the phone communications of U.S. political figures, including a campaign advisor of Republican candidate Donald Trump, according to The Washington Post. U.S. agencies like the FBI and CISA are currently investigating the breach, which involved unauthorized access to commercial telecommunications. The hackers allegedly intercepted unencrypted phone calls and text messages, posing a serious cybersecurity threat ahead of U.S. elections. Recent reports indicate Democratic candidate Kamala Harris’s team was also targeted, raising alarms over potential election interference.