#Fact Check-Misleading Newspaper from Kerala stating ban on paper currency
Executive Summary:
Recently, our team came across a widely circulated post on X (formerly Twitter), claiming that the Indian government would abolish paper currency from February 1 and transition entirely to digital money. The post, designed to resemble an official government notice, cited the absence of advertisements in Kerala newspapers as supposed evidence—an assertion that lacked any substantive basis
Claim:
The Indian government will ban paper currency from February 1, 2025, and adopt digital money as the sole legal tender to fight black money.
Fact Check:
The claim that the Indian government will ban paper currency and transition entirely to digital money from February 1 is completely baseless and lacks any credible foundation. Neither the government nor the Reserve Bank of India (RBI) has made any official announcement supporting this assertion.
Furthermore, the supposed evidence—the absence of specific advertisements in Kerala newspapers—has been misinterpreted and holds no connection to any policy decisions regarding currency
During our research, we found that this was the prediction of what the newspaper from the year 2050 would look like and was not a statement that the notes will be banned and will be shifted to digital currency.
Such a massive change would necessitate clear communication to the public, major infrastructure improvements, and precise policy announcements which have not happened. This false rumor has widely spread on social media without even a shred of evidence from its source, which has been unreliable and is hence completely false.
We also found a clip from a news channel to support our research by asianetnews on Instagram.
We found that the event will be held in Jain Deemed-to-be University, Kochi from 25th January to 1st February. After this advertisement went viral and people began criticizing it, the director of "The Summit of Future 2025" apologized for this confusion. According to him, it was a fictional future news story with a disclaimer, which was misread by some of its readers.
The X handle of Summit of Future 2025 also posted a video of the official statement from Dr Tom.
Conclusion:
The claim that the Indian government will discontinue paper currency by February 1 and resort to full digital money is entirely false. There's no government announcement nor any evidence to support it. We would like to urge everyone to refer to standard sources for accurate information and be aware to avoid misinformation online.
- Claim: India to ban paper currency from February 1, switching to digital money.
- Claimed On: X (Formerly Known As Twitter)
- Fact Check: False and Misleading
Related Blogs
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Executive Summary:
In the end of January 2024, India sees an inauguration of Ram Mandir that is a historical event to which people came culturally and spiritually. All communities in the world acknowledge this point of life as a victory and also understand how it unites people. In the midst of this genuine joy over success, there has been a disconcerting increase in malpractices designed to exploit people’s enthusiasm. This report aims at providing awareness and guidelines on how one can avoid the fraud activities that could be circulating as a celebration of Ram Mandir inauguration. An example cited here is on scams that give fake free recharge to users making them connect with the Prime Minister of India and UP Chief Minister Yogi Adityanath.
False Claim:
According to the message passed in WhatsApp, as a commemoration of the inauguration of Ram Mandir in Ayodhya in January 2024, free Rs.749 mobile recharge for three months would be offered to all Indians across India by both the PM and UP CM. The message prompts the recipients to click on the blue link provided and then recharge their numbers.
The Deceptive Scheme:
We have been informed of a circulating link (https://mahacashhback[.]in/#1705296887543) stating that it offers ₹719 recharge in honor of the Ram Mandir inauguration. It is worth mentioning that this link does not belong to any legitimate movement concerning the inauguration; public excitement and trust were used for personal gain.
Analyzing the Fraudulent Campaign:
- Exploiting Emotional Significance:Scammers are using the cultural and religious significance of Ram mandir inauguration as a cover to fool people into participating in its fraudulent scheme.
- Fake Recharge Offers:The broadcasted link is offering a recharge pretending that they celebrate it’s inauguration. Such offers should be handled with care and established through authorized avenues.
- Bogus Landing Pages and Comments:The landing page linked to the link typically shows images of Ram Mandir and fake comments succeeding in a make-believe appearance. Legitimate projects linked to major events rely on official and trustworthy communication mechanisms.
- Data Collection Attempts:However, users may be asked for personal details like mobile numbers under the false pretext of winning a fake recharge. Legitimate organizations practice secure protocols for data collection and communication.
- Sharing for Activation:After the data entry, users are prompted to share a link in other people’s posts; it is said that this will help “activate” recharge. This is a popular trick among swindlers to keep the fraud going on due to sending misleading messages.
What do we Analyze?
- It is important to note that at this particular point, there has not been any official declaration or a proper confirmation of such offers on any official channel.
- The campaign is hosted on a third party domain instead of any official Government Website, this raised suspicion. Also the domain has been registered in very recent times.
- Domain Name: mahacashhback[.]in
- Registry Domain ID: D1FCF1B5751244310A2FA723B62CE83E9-IN
- Registrar URL: https://publicdomainregistry[.]com/
- Registrar: Endurance Digital Domain Technology LLP
- Registrar IANA ID: 801217
- Updated Date: 2024-01-18T08:09:00Z
- Creation Date: 2023-05-27T12:01:17Z
- Registry Expiry Date: 2024-05-27T12:01:17Z
- Registrant Organization: Sachin Kumar
- Registrant State/Province: Bihar
- Name Server: ns2.suspended-domain[.]com
- Name Server: ns1.suspended-domain[.]com
CyberPeace Advisory and Best Practices:
- Verify Authenticity:Authenticate any offers or promotions linked to the Ram Mandir inauguration through official channels.
- Exercise Caution with Links:Do not engage with questionable URLs, in particular those without secure encryption (HTTPS). Official announcements and initiatives are disseminated through secure outlets.
- Protect Personal Information:Do not provide personal information and do not respond to unsolicited offers on nonofficial platforms. Genuine organizations employ safe and official routes for communication.
- Report Fraudulent Activity:When you see scams or fraudulent activities, immediately report them to authorities and platforms so that no one falls into their trap.
Conclusion:
In the coming days, let us be cautious from such cheating strategies which would be misutilized or create false situations. Individuals should stay informed, verify sources and defend their personal information to ensure a safer world wide web. Official and secure channels are used to communicate authentic initiatives linked with notable events. When an offer sounds too favorable or attractive, exercise due caution and check its genuineness to avoid being defrauded. Thus by undertaking the research we found this campaign to be fake.
Introduction
MGM Resorts, which is an international company, has suffered an ongoing cyberattack which led to the shutdown of a number of its computer systems, including its website, in response to a cybersecurity issue. MGM Resorts International is in touch with external cybersecurity experts to resolve the issue since it has affected its entire Computer systems. MGM is a larger entity and operates thousands of hotel rooms across Las Vegas and the United States. MGM Resorts shared about the incident and posted that MGM recently identified a cybersecurity issue affecting some of the Company's systems. Promptly after detecting the issue, they quickly began an investigation with assistance from leading external cybersecurity experts. MGM has notified law enforcement and took prompt action to protect systems and data, including putting down certain systems. MGM further stated that the investigation is ongoing.
The issue
Basic operations such as the online reservation and booking system MGM have been affected and shut down due to the cybersecurity issue faced by a lot of visitors. Since earlier times, casino security has been the state of the art as they were very vulnerable to attacks by robbers and con artists. This is what we have also seen in a lot of movies. In today's time, con artists and robbers are now strengthened by cyber tactics. This is exactly what was seen in the case of the MGM attack.
MGM Resorts is home to best-in-class amenities and facilities for guests, but with the increase in tourist traction, the vulnerabilities and the scope of cyber attacks have also increased. This is also because of open wifis in the establishments and the transition of casinos to e-casinos, thus causing a major shift towards digital and technology-based intervention for better customer experience and streamlining a lot of operations.
How real is the threat?
As reported by MGM Resorts, the following systems were impacted in the cyber security attack:
- Slots Machines: The slot machines placed in the casino suddenly went offline and displayed an error message for the players. Some players who were already using the slot machines lost their bets and were unable to withdraw their winnings.
- Room Keys: Some of the guests reported that the room keys became unresponsive, and in some cases, the replacement keys were also inactive for some time, causing massive chaos at the reception.
- Booking Status: All the bookings in today's time are made online; this was one of the worst-hit segments of the cyber attacks. Most of the bookings made automatically were put on hold, and the confirmations could be made only from the hotel reception, thus causing massive cancelling of the bookings and both the hotel and customers losing out on money.
- MGM App: The official app of MGM Resorts was completely down, thus causing a situation of confusion and panic among the guests. The users also received notifications to speak to different customer care executives, but some of the numbers were unattentive and seemed to be operated by bad actors.
- Data breach: The main focus of the cyber attack was dedicated to committing a data breach. The attack led to the breach of personal data of most of the users registered on the app or on the system of MGM Resorts.
Conclusion
The cyber attack on the tourism industry is a major and growing concern for the industry and its customers. Seeing the volatility of the data and the regular inflow of personal information this makes the hotel's cyber security system a vulnerable choice for bad actors. The cyber attack was no less than a fire sale, where in all the segments of the services offered were impacted. Similar attacks were reported by MGM in 2019 and 2020, and subsequently, the safety measures were also deployed, but the bad actors have hit the resorts chain owners again, in such cases the most paramount defence is having a safe and regularly updated firewall, upskilling of staff for IT issues and attacks, active reporting and investigation mechanisms for assisting the LEAs. In the times of rising cyberattacks, one needs to be critical of their data management and digital footprints. The sooner we adopt safe, secure and resilient cyber hygiene practices, the safer our future will be.
References:
https://www.bleepingcomputer.com/news/security/mgm-resorts-shuts-down-it-systems-after-cyberattack/
https://www.cnbc.com/2023/09/12/mgm-resorts-cybersecurity-incident-forces-system-outage.html
Introduction
THE DIGITAL PERSONAL DATA PROTECTION BILL, 2022 Released for Public Consultation on November 18, 2022THE DIGITAL PERSONAL DATA PROTECTION BILL, 2023Tabled at LokSabha on August 03. 2023Personal data may be processed only for a lawful purpose for which an individual has given consent. Consent may be deemed in certain cases.The 2023 bill imposes reasonable obligations on data fiduciaries and data processors to safeguard digital personal data.There is a Data Protection Board under the 2022 bill to deal with the non-compliance of the Act.Under the 2023 bill, there is the Establishment of a new Data Protection Board which will ensure compliance, remedies and penalties.
Under the new bill, the Board has been entrusted with the power of a civil court, such as the power to take cognisance in response to personal data breaches, investigate complaints, imposing penalties. Additionally, the Board can issue directions to ensure compliance with the act.The 2022 Bill grants certain rights to individuals, such as the right to obtain information, seek correction and erasure, and grievance redressal.The 2023 bill also grants More Rights to Individuals and establishes a balance between user protection and growing innovations. The bill creates a transparent and accountable data governance framework by giving more rights to individuals. In the 2023 bill, there is an Incorporation of Business-friendly provisions by removing criminal penalties for non-compliance and facilitating international data transfers.
The new 2023 bill balances out fundamental privacy rights and puts reasonable limitations on those rights.Under the 2022 bill, Personal data can be processed for a lawful purpose for which an individual has given his consent. And there was a concept of deemed consent.The new data protection board will carefully examine the instance of non-compliance by imposing penalties on non-compiler.The bill does not provide any express clarity in regards to compensation to be granted to the Data Principal in case of a Data Breach.Under 2023 Deemed consent is there in its new form as ‘Legitimate Users’.The 2022 bill allowed the transfer of personal data to locations notified by the government.There is an introduction of the negative list, which restricts cross-data transfer.
