In his latest ‘Mann Ki Baat’ address, Prime Minister Narendra Modi raised serious concerns about a new online scam called ‘Digital Arrest,’ where fraudsters impersonate officials to extort money from unsuspecting citizens. He outlined the modus operandi of the scam, highlighting the tactics used by the criminals, and provided practical steps to stay safe.
Warren Buffett, the renowned CEO of Berkshire Hathaway, has expressed concerns about impersonators using his name and likeness on social media to fraudulently endorse political candidates and investment opportunities. Buffett explicitly stated he does not support any political candidates or specific investment schemes, emphasizing that he is not even familiar with platforms like Instagram.
A 37-year-old man has been arrested in Ahmedabad for running a fake tribunal and defrauding clients seeking land dispute resolution. Morris Samuel Christian, posing as a court-appointed arbitrator, established a fake courtroom in Gandhinagar, lured clients, and passed favorable orders in exchange for fees, cheating them out of valuable land.
Martin Shkreli, the former pharmaceutical executive known as ‘Pharma Bro’, has faced another legal setback as the U.S. Supreme Court denied his appeal to overturn a $64.6 million repayment order. The decision reaffirms his liability for the profits gained through a fraudulent scheme and bars him from the pharmaceutical industry for life.
A government school teacher in Agra, India, died of a heart attack after receiving a threatening phone call from cyber fraudsters. The fraudsters claimed her daughter was involved in a sex scandal and demanded money to keep it quiet. This tragic incident highlights the growing problem of cybercrime and its devastating impact on individuals.
Revolut, a UK-based fintech company, has publicly criticized Meta for its inadequate response to fraud on its platforms. Revolut’s head of financial crime, Woody Malouf, argues that Meta’s data-sharing initiative is insufficient and that the company should bear responsibility for reimbursing victims of scams. Revolut’s report reveals that a significant portion of fraud cases reported by UK customers originate from Meta platforms like Facebook and Instagram, prompting calls for Meta to actively support victims.
A Florida man’s parents were nearly scammed out of ₹25 lakhs by fraudsters who used AI to clone his voice and impersonate him in a fake car accident scenario. This incident highlights the growing threat of AI-powered scams and the need for regulations in the AI industry.
A gang of inter-state cyber fraudsters allegedly defrauded Vardhman Group Chairman SP Oswal of ₹7 crore. Punjab Police have arrested two members of the gang and recovered ₹5.25 crore. The fraudsters, using a fake arrest warrant and threats of digital arrest, tricked Oswal into withdrawing funds from his bank accounts. The police are actively pursuing the remaining members of the gang, all of whom are from Assam and West Bengal.
WhatsApp directors and nodal officers in India are facing an FIR for their refusal to cooperate with a ₹4 crore fraud investigation. Gurugram police allege that the company failed to provide information on accounts linked to the case despite multiple requests, hindering the investigation. This action by the police highlights the ongoing tension between law enforcement agencies and tech companies regarding data access and cooperation.
Guo Wengui, a convicted Chinese fraudster who used the aliases Ho Wan Kwok and Miles Kwok, is trying to offload his Manhattan penthouse for a drastically reduced $24 million. The apartment, once valued at $86 million, was originally purchased for $67.5 million in 2015. A fire in the penthouse, which occurred while agents were still showing the property, has left it in poor condition, contributing to the significant price reduction.
