Cybercrime

Bank Indonesia reports over 370 million cyber threat attempts in 2024

Bank Indonesia (BI) has reported more than 370 million attempted cyber threats targeting the country, highlighting the growing exposure linked to Indonesia’s rapid digital transformation.

The central bank also noted a 25% increase in anomalous cyber traffic in 2024 compared to the previous year. Deputy Governor Filianingsih Hendarta stated that the rise in cyber activity underscores the need for all stakeholders to remain vigilant as Indonesia continues to develop its digital infrastructure.

She also added that public trust is essential to sustaining a resilient digital ecosystem, as trust takes a long time to build and can be lost in to moment.

To strengthen cybersecurity and prepare for continued digitalisation, BI has developed the Indonesian Payment System Blueprint (BSPI) 2030, a strategic framework intended to enhance institutional collaboration and reinforce the security of the national payment system.

BI data shows that internet penetration in Indonesia has reached 80.66%, equivalent to approximately 229 million people, surpassing the global average of 68.7% (around 6.66 billion people worldwide).

Filianingsih also emphasised that strengthening digital infrastructure requires cross-sectoral and international cooperation, given the global and rapidly evolving nature of cyber threats.

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Major crypto fraud network dismantled across Europe

European authorities have dismantled one of the continent’s largest cryptocurrency fraud and money laundering schemes, arresting nine suspects across Cyprus, Spain, and Germany. The network allegedly defrauded hundreds of investors through fake crypto platforms, stealing over €600 million.

The scammers reportedly created websites that mimicked legitimate trading platforms, luring victims through social media, cold calls, and fabricated celebrity endorsements. Once deposits were made, the funds were laundered through blockchain technology, making recovery nearly impossible.

During the operation, investigators seized €800,000 in bank accounts, €415,000 in cryptocurrencies, €300,000 in cash, and luxury watches worth over €100,000. Authorities stated that several properties linked to the network remain under evaluation as investigations continue.

French prosecutors said the suspects face fraud and money laundering charges, carrying sentences of up to ten years. The case underscores the growing cross-border nature of crypto-related crime, with Eurojust’s coordination proving key to dismantling the network.

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AUSTRAC cracks down on crypto ATM money laundering risks

Australia’s financial crime regulator, AUSTRAC, has fined crypto ATM operator Cryptolink $56,340 for failing to report large cash transactions on time. The regulator also ordered the company to improve its anti-money laundering (AML) and counterterrorism financing (CTF) controls.

AUSTRAC’s Crypto Taskforce identified weaknesses in Cryptolink’s risk assessments and reporting controls, raising concerns about the misuse of crypto ATMs by criminals.

According to AUSTRAC CEO Brendan Thomas, crypto ATMs remain one of the highest-risk channels for money laundering in Australia, often used to launder scam proceeds. He emphasised that operators must take stronger action to prevent criminal exploitation of the sector.

As part of the undertaking, Cryptolink must appoint independent reviewers to assess its compliance systems and validate all large cash transaction reports. Cryptolink must report its remedial progress to AUSTRAC by March 2026, having paid the fine without admitting liability.

Findings from AUSTRAC’s taskforce revealed that 85% of transactions made by the 90 most frequent ATM users were linked to scams or money mule schemes. Authorities will keep monitoring high-risk operators to improve oversight and protect consumers from crypto-related crimes.

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AI-driven cybercrime rises across Asia

Cybersecurity experts met in Dubai for the World Economic Forum’s Annual Global Future Councils and Cybersecurity meetings. More than 500 participants, including 150 top cybersecurity leaders, discussed how emerging technologies such as AI are reshaping digital security.

UAE officials highlighted the importance of resilience, trust and secure infrastructure as fundamental to future prosperity. Sessions examined how geopolitical shifts and technological advances are changing the cyber landscape and stressed the need for coordinated global action.

AI-driven cybercrime is rising sharply in Japan, with criminals exploiting advanced technology to scale attacks and target data. Recent incidents include a cyber attack on Asahi Breweries, which temporarily halted production at its domestic factories.

Authorities are calling for stronger cross-border collaboration and improved cybersecurity measures, while Japan’s new Prime Minister, Sanae Takaichi, pledged to enhance cooperation on AI and cybersecurity with regional partners.

Significant global developments include the signing of the first UN cybercrime treaty by 65 nations in Viet Nam, establishing a framework for international cooperation, rapid-response networks and stronger legal protections.

High-profile cyber incidents in the UK, including attacks on Jaguar Land Rover and a nursery chain, have highlighted the growing economic and social costs of cybercrime. These events are prompting calls for businesses to prioritise cyber resilience.

Experts warn that technology is evolving faster than cyber defences, leaving small businesses and less developed regions highly vulnerable. Integrating AI, automation and proactive security strategies is seen as essential to protect organizations and ensure global digital stability.

Cyber resilience is increasingly recognised not just as an IT issue but as a strategic imperative for economic and national security.

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Italian political elite targeted in hacking scandal using stolen state data

Italian authorities have uncovered a vast hacking operation that built detailed dossiers on politicians and business leaders using data siphoned from state databases. Prosecutors say the group, operating under the name Equalize, tried to use the information to manipulate Italy’s political class.

The network, allegedly led by former police inspector Carmine Gallo, businessman Enrico Pazzali and cybersecurity expert Samuele Calamucci, created a system called Beyond to compile thousands of records from state systems, including confidential financial and criminal records.

Police wiretaps captured suspects boasting they could operate all over Italy. Targets included senior officials such as former Prime Minister Matteo Renzi and the president of the Senate Ignazio La Russa.

Investigators say the gang presented itself as a corporate intelligence firm while illegally accessing phones, computers and government databases. The group allegedly sold reputational dossiers to clients, including major firms such as Eni, Barilla and Heineken, which have all denied wrongdoing or said they were unaware of any illegal activity.

The probe began when police monitoring a northern Italian gangster uncovered links to Gallo. Gallo, who helped solve cases including the 1995 murder of Maurizio Gucci, leveraged contacts in law enforcement and intelligence to arrange unlawful data searches for Equalize.

The operation collapsed in autumn 2024, with four arrests and dozens questioned. After months of questioning and plea bargaining, 15 defendants are due to enter pleas this month. Officials warn the case shows how hackers can weaponise state data, calling it ‘a real and actual attack on democracy’.

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US Department of Justice charges former L3Harris executive with selling trade secrets to Russian buyer

The US Department of Justice has accused a former executive at defense contractor L3Harris of stealing and selling trade secrets to a buyer in Russia.

According to court filings, Peter Williams, a 39-year-old Australian citizen and former general manager of L3Harris division Trenchant, allegedly sold eight trade secrets from two unnamed companies between April 2022 and August 2025, earning about $1.3 million.

Williams, known internally as ‘Doogie,’ led Trenchant, which develops hacking and surveillance tools for Western governments, including the United States. He joined the company in October 2024 and left in August 2025, according to U.K. business records.

The DOJ’s ‘criminal information’ document, which, similar to an indictment, represents a formal accusation, did not identify the companies involved or the Russian buyer. Prosecutors are seeking to recover assets they say Williams acquired through the sale of trade secrets.

The case is being prosecuted by the DOJ’s National Security Division under the Counterintelligence and Export Control Section. An arraignment and plea hearing is scheduled for October 29 in Washington, DC.

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UK government urges awareness as £106m lost to romance fraud in one year

Romance fraud has surged across the United Kingdom, with new figures showing that victims lost a combined £106 million in the past financial year. Action Fraud, the UK’s national reporting centre for cybercrime, described the crime as one that causes severe financial, emotional, and social damage.

Among the victims is London banker Varun Yadav, who lost £40,000 to a scammer posing as a romantic partner on a dating app. After months of chatting online, the fraudster persuaded him to invest in a cryptocurrency platform.

When his funds became inaccessible, Yadav realised he had been deceived. ‘You see all the signs, but you are so emotionally attached,’ he said. ‘You are willing to lose the money, but not the connection.’

The Financial Conduct Authority (FCA) said banks should play a stronger role in disrupting romance scams, calling for improved detection systems and better staff training to identify vulnerable customers. It urged firms to adopt what it called ‘compassionate aftercare’ for those affected.

Romance fraud typically involves criminals creating fake online profiles to build emotional connections before manipulating victims into transferring money.

The National Cyber Security Centre (NCSC) and UK police recommend maintaining privacy on social media, avoiding financial transfers to online contacts, and speaking openly with friends or family before sending money.

The Metropolitan Police recently launched an awareness campaign featuring victim testimonies and guidance on spotting red flags. The initiative also promotes collaboration with dating apps, banks, and social platforms to identify fraud networks.

Detective Superintendent Kerry Wood, head of economic crime for the Met Police, said that romance scams remain ‘one of the most devastating’ forms of fraud. ‘It’s an abuse of trust which undermines people’s confidence and sense of self-worth. Awareness is the most powerful defence against fraud,’ she said.

Although Yadav never recovered his savings, he said sharing his story helped him rebuild his life. He urged others facing similar scams to speak up: ‘Do not isolate yourself. There is hope.’

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European action targets major cryptocurrency investment scam

Eurojust has coordinated a large-scale operation to dismantle a cryptocurrency fraud scheme worth more than €100 million across Europe. The action, requested by Spanish and Portuguese authorities, resulted in the arrest of five suspects, including the alleged mastermind.

Victims from Germany, France, Italy, Spain and other countries were lured into false investment platforms promising high returns.

Investigations revealed that funds were funnelled mainly through Lithuanian bank accounts to launder the illicit proceeds. Victims were later asked to pay additional fees to recover their money, after which the fraudulent websites vanished, leaving many with severe losses.

The scheme has been running since 2018, affecting people in 23 countries.

Authorities in Spain, Portugal, Italy, Romania and Bulgaria conducted searches and froze bank accounts and financial assets. Eurojust backed a Spain-Lithuania investigation team, while Europol sent a cryptocurrency expert to support operations in Portugal.

The coordinated action also relied on European Arrest Warrants, Investigation Orders and freezing orders. National agencies and prosecutors across Europe united in one of the most significant efforts against cryptocurrency fraud.

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Hackers use ChatGPT for fake ID attack

A hacking group has reportedly used ChatGPT to generate a fake military ID in a phishing attack targeting South Korea. The incident, uncovered by cybersecurity firm Genians, shows how AI can be misused to make malicious campaigns more convincing.

Researchers said the group, known as Kimsuky, crafted a counterfeit South Korean military identification card to support a phishing email. While the document looked genuine, the email instead contained links to malware designed to extract data from victims’ devices.

Targets included journalists, human rights activists and researchers. Kimsuky has a history of cyber-espionage. US officials previously linked the group to global intelligence-gathering operations.

The findings highlight a wider trend of AI being exploited for cybercrime, from creating fake résumés to planning attacks and developing malware. Genians warned that attackers are rapidly using AI to impersonate trusted organisations, while the full scale of the breach is unknown.

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Cyber attacks pose growing threat to shipping industry

The maritime industry faces rising cyber threats, with Nigerian gangs among the most active attackers of shipping firms. HFW lawyers say ‘man-in-the-middle’ frauds are now common, letting hackers intercept communications and steal sensitive financial or operational data.

Costs from cyber attacks are rising sharply, with average mitigation expenses for shipping firms doubling to $550,000 (£410,000) between 2022 and 2023. In cases where hackers remain embedded, ransom payments can reach $3.2m.

The rise in attacks coincides with greater digitisation, satellite connectivity such as Starlink, and increased use of onboard sensors.

Threats now extend beyond financial extortion, with GPS jamming and spoofing posing risks to navigation. Incidents such as the grounding of MSC Antonia in the Red Sea illustrate potential physical damage from cyber interference.

Industry regulators are responding, with the International Maritime Organization introducing mandatory cyber security measures into ship management systems. Experts say awareness has grown, and shipping firms are gradually strengthening defences against criminal and state cyber threats.

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