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An estimated $1 trillion was lost globally to fraud in 2023. Here's what went on behind the scenes of a sophisticated crypto-scam operation in Dubai, according to a former scammer who reveals how victims were ensnared. More on Bloomberg Investigates https://t.co/OlhCRZO9LP https://t.co/oqtuf31tP9
A criminal network mass-producing and distributing fake #KYC documents across India has been uncovered by CloudSEK. The operation, dubbed PrintSteal, exploits vulnerabilities in the Indian government’s Common Service Centre (CSC) initiative. #ScamAlert https://t.co/8S3K4qTQ3L
An investigation by CloudSEK found a thriving underground market where scammers sell fake Aadhaar, PAN, and birth certificates by mimicking government portals. @HeraRizwan1 reports #AadhaarCard #ScamAlert https://t.co/8S3K4qTQ3L
In 2023, Americans reported losses of $5.6 billion due to crypto scams, highlighting a growing concern in the digital currency market. A recent investigation revealed that globally, fraud resulted in an estimated $1 trillion in losses. In India, a textile tycoon fell victim to a scam involving $830,000, orchestrated by fraudsters posing as a fake Supreme Court. Cybercrime incidents in India have quadrupled over the past year, with losses totaling $175 million. Additionally, a criminal network has been discovered that produces and distributes fake Know Your Customer (KYC) documents, exploiting vulnerabilities in the Indian government's Common Service Centre initiative. This underscores the widespread issue of fraud, including AI-driven phishing and deepfake scams, which are increasingly prevalent in the region.
