Indian tax authorities have uncovered a complex money laundering scheme involving hawala networks and cryptocurrency transactions in Jaipur. The investigation, triggered by raids on local wedding planners, led to the seizure of $2 million (₹20 crores) in cash and jewellery. Officials also recovered three crypto wallets linked to the operation, including one tied to a major global exchange.
The scheme involved clients making unreported cash payments exchanged for cryptocurrencies like Bitcoin and Tether through hawala operators in Gujarat and Rajasthan. Hawala, an illegal payment system, allows funds to be transferred abroad without moving money physically. Authorities believe the perpetrators exploited crypto exchanges with weak KYC policies or intermediaries to launder funds.
Records of these activities, including WhatsApp messages, emails, and spreadsheets, reveal the network extends beyond Jaipur to cities like Mumbai, Hyderabad, and Delhi. The operation also implicated resorts, hotels, and event service providers who accepted cash or bank payments. The tax department plans further raids across India to tackle tax evasion in the wedding and events industry.
Elder fraud scams are becoming increasingly sophisticated, as illustrated by a recent case where an 82-year-old woman lost her life savings to criminals posing as the FBI. After depleting her accounts, the scammers coerced her into withdrawing funds via a Bitcoin machine and kept her isolated in a hotel under the guise of ‘protection.’ Despite her family’s intervention, the scammers struck again, convincing her to hand over $20,000 by exploiting false hopes of recovering a promised reward.
Elderly individuals are prime targets for such schemes, often due to their savings, trust in others, and unfamiliarity with modern technology. Fraudsters employ tactics like intimidation, urgency, and psychological manipulation to exploit their victims. According to recent statistics, seniors lose billions annually to scams, with the emotional toll leaving many feeling ashamed and fearful.
To combat these threats, experts recommend verifying unsolicited requests, limiting personal information sharing, using strong security measures, and reporting suspicious activity. Education and vigilance are key to protecting vulnerable individuals and ensuring scammers are outsmarted.
The Indian government has launched several initiatives to strengthen consumer protection, focusing on leveraging technology and enhancing online safety. Key developments include the introduction of the AI-enabled National Consumer Helpline, the e-Maap Portal, and the Jago Grahak Jago mobile application, all designed to expedite the resolution of consumer complaints and empower citizens to make informed choices.
The government of India also highlighted the significant progress made through the three-tier consumer court system, resolving thousands of disputes this year. In the realm of e-commerce, major platforms like Reliance Retail, Tata Sons, and Zomato pledged to enhance online shopping security, reflecting the government’s commitment to ensuring consumer confidence in the digital marketplace.
The e-Daakhil Portal has been expanded nationwide, achieving 100% adoption in states like Karnataka, Punjab, and Rajasthan, making it easier for consumers to file complaints online. The Consumer Protection Authority (CCPA) is also drafting new guidelines to regulate surrogate advertising and has already taken action against 13 companies for non-compliance with existing rules.
The importance of these initiatives was underscored at the National Consumer Day event, where key officials, including Minister of State for Consumer Affairs B L Verma and TRAI Chairman Anil Kumar Lahoti, were present. The event highlighted the government’s ongoing efforts to foster a safer and more transparent consumer environment, especially in the rapidly evolving digital landscape.
Japan Airlines (JAL) announced on Thursday that its systems have returned to normal following a cyberattack that disrupted domestic and international flights earlier in the day. The attack, which began at 7:24 a.m., caused malfunctions in internal and external systems, forcing the airline to suspend same-day ticket sales temporarily. The issue was resolved after shutting down a malfunctioning router.
JAL confirmed that no customer data was leaked and there was no damage from computer viruses. The company resumed ticket sales for flights departing on Thursday once the systems stabilised. Meanwhile, ANA Holdings, Japan’s other major airline, reported no signs of a similar attack on its operations.
The incident comes shortly after American Airlines briefly grounded all flights on Christmas Eve due to a network hardware glitch, highlighting ongoing challenges airlines face with system vulnerabilities during peak travel periods.
The FBI is warning timeshare owners about a telemarketing scam linked to the Jalisco New Generation Cartel, one of Mexico’s most dangerous criminal groups. This sophisticated operation targets individuals, particularly older adults, with offers to buy their timeshares at inflated prices. Victims are tricked into paying fees for taxes, processing, or other fabricated expenses, often losing tens of thousands of dollars.
The scam employs advanced tactics, including impersonation of legitimate businesses and government agencies, as well as the use of fraudulent websites. Call centres operated by the cartel facilitate these schemes, preying on vulnerable individuals while funding broader criminal activities, including drug trafficking. The scammers often re-victimise those they have already defrauded by promising to recover losses in exchange for additional payments.
To avoid falling prey to such fraud, experts advise verifying buyers and companies, avoiding upfront fees, and consulting professionals before proceeding with transactions. Reporting suspicious activity to the authorities is critical in combating these scams and protecting others.
Russia’s central bank has announced plans to develop a new platform to curb illegal financial activities, including unregulated crypto-to-fiat over-the-counter services. Collaborating with Rosfinmonitoring and financial institutions, the initiative aims to track and block suspicious transactions while preventing misuse of banking systems.
The system focuses on individuals known as ‘droppers,’ who exploit bank accounts for illicit purposes such as money laundering, drug trade, and unregulated cryptocurrency exchanges. Currently, monitoring is limited to individual banks, making it challenging to prevent offenders from opening accounts elsewhere. A centralised database is expected to improve information sharing across all financial institutions.
The Bank of Russia has stressed the need for a solution that enforces regulations without causing unnecessary harm to law-abiding citizens. While the project is still in development, no official timeline for its launch has been provided.
OpenAI’s ChatGPT search tool is under scrutiny after a Guardian investigation revealed vulnerabilities to manipulation and malicious content. Hidden text on websites can alter AI responses, raising concerns over the tool’s reliability. The search feature, currently available to premium users, could misrepresent products or services by summarising planted positive content, even when negative reviews exist.
Cybersecurity researcher Jacob Larsen warned that the AI system in its current form might enable deceptive practices. Tests revealed how hidden prompts on webpages influence ChatGPT to deliver biased reviews. The same mechanism could be exploited to distribute malicious code, as highlighted in a recent cryptocurrency scam where the tool inadvertently shared credential-stealing instructions.
Experts emphasised that while combining search with AI models like ChatGPT offers potential, it also increases risks. Karsten Nohl, a scientist at SR Labs, likened such AI tools to a ‘co-pilot’ requiring oversight. Misjudgments by the technology could amplify risks, particularly as it lacks the ability to critically evaluate sources.
OpenAI acknowledges the possibility of errors, cautioning users to verify information. However, broader implications, such as how these vulnerabilities could impact website practices, remain unclear. Hidden text, while traditionally penalised by search engines like Google, may find new life in manipulating AI-based tools, posing challenges for OpenAI in securing the system.
Authorities in Thailand are taking steps to regulate bulk SIM card purchases to combat their misuse in scams targeting Thai citizens. The issue came to light following the police seizure of 200,000 prepaid SIM cards linked to a Chinese call center gang.
Currently, there are no restrictions on corporate bulk SIM purchases, aside from a rule requiring registration for users holding more than five numbers. The lack of oversight has enabled SIM cards to be used illegally, particularly near borders where foreign SIMs are common.
Many of these cards are intentionally registered without clear user identities or are misused in IoT devices, GPS trackers, or sold to tourists. To address these gaps, the Ministry of Digital Economy and Society has proposed legal reforms requiring mobile operators and banks to verify buyer identities and notify users of suspicious transactions.
Additionally, stricter regulations on SMS messages with embedded links are set to take effect next year. Inspired by policies in countries like Singapore and Australia, these reforms aim to enhance accountability and curb abuse.
The National Broadcasting and Telecommunications Commission (NBTC) emphasises a gradual approach to implementing these measures to minimise inconvenience for consumers and avoid disrupting legitimate business operations. While tackling the misuse of SIM cards, authorities aim to strike a balance between protecting the public and ensuring businesses can operate smoothly. This measured approach reflects the broader goal of preventing scams while maintaining economic and social stability.
Argentine authorities have seized a crypto wallet containing $3.5 million in Tether’s USDT as part of a sweeping investigation into the Rainbowex Ponzi scheme. The crackdown has also led to the freezing of additional cryptocurrency wallets and bank accounts linked to those accused of orchestrating the fraud.
The investigation has benefited from collaboration with Lemon, a major digital asset exchange in Argentina, along with blockchain forensics experts from Chainalysis and Qlue. Their technical expertise enabled authorities to track the flow of funds and uncover the scale of the alleged scheme.
Rainbowex lured investors with promises of extraordinary daily returns, amounting to an annual rate of nearly 3,500%. Authorities estimate that tens of thousands of San Pedro, Buenos Aires residents were affected. The operation has already resulted in over 15 raids, with four arrests made, while efforts to apprehend additional suspects, including individuals in Malaysia, continue with Interpol’s support.
Greek authorities have made their first-ever cryptocurrency seizure, confiscating 273,000 USDT (Tether) as part of a criminal investigation. The operation, conducted in December, was carried out under the supervision of the Greek European Public Prosecutor’s Office and involved collaboration with various law enforcement departments, including the Digital Evidence Examination Department.
The seizure, which is part of the ongoing ‘Admiral’ operation, highlights the growing challenges law enforcement faces in dealing with advanced technologies like blockchain and cryptocurrencies. Cryptocurrencies, known for their anonymity and security features, are often used in criminal activities such as fraud and money laundering. Experts stress the need for precision and expertise in handling digital assets, as mistakes can lead to irreversible losses.
Crypto-related scams are becoming more common in Greece, with many victims falling prey to fraudulent schemes. As cryptocurrencies gain popularity, particularly with the rise of Bitcoin and NFTs, the lack of understanding among the public increases the risk of scams. Experts warn that technological advances in AI are making these scams harder to detect, even for experienced investors.
In addition to combating fraud, authorities are also focusing on the management of seized cryptocurrencies, with plans to convert them into funds for the state, similar to practices in other European countries.
