#FactCheck - Debunking Manipulated Photos of Smiling Secret Service Agents During Trump Assassination Attempt

Introduction

Significantly, in March 2023, the Prevention of Money Laundering Act, 2002's regulations placed Virtual Digital Asset Service Providers functioning located under the purview of the Anti Money Laundering/Counter Financing of Terrorism (AML-CFT) scheme. An important step toward controlling VDA SP operations and guaranteeing adherence to Anti-Money Laundering and Combating the Financing of Terrorism (AML-CFT) regulations.

The significance of AML-CFT procedures

The AML-CFT framework's incorporation of Virtual Digital Asset Service Providers (VDA SPs) is essential for protecting the banking industry from illegal activities including the laundering of funds and counter-financing of terrorist attacks. These regulations become more crucial as the market for digital assets develops and becomes more well-known.

The practice of money laundering is hiding the source of the sum received illegally, thus it's critical to have strict policies in place to track down and stop these kinds of operations. Furthermore, funding for terrorism is a serious danger to international safety, hence stopping the flow of money to terrorist companies is a top concern for global officials.

The goal of policymakers' move to include VDA SPs in the AML-CFT architecture is to set up control and surveillance procedures that will guarantee these organisations' open and honest operations. This involves tracking transactions, flagging questionable activity, and conducting extensive customer investigations. Incorporating such procedures not only reduces the potential for financial crimes but also builds confidence and trust in the electronic asset market.

It is important to see the significance of AML-CFT procedures and the changes in the legal framework to reflect the evolving characteristics of digital currencies. These procedures are essential to preserving the reliability and safety of the wider banking system.

Notifications of Compliance Show Cause

Under Section 13 of the PMLA Act 2002, FIU IND sent adherence Show Cause Notices to nine offshore Virtual Digital Asset Service Providers (VDA SPs) as part of its dedication to upholding compliance with regulations. This affirmative step requires organisations to be scrutinised and attempted to bring them under inspection.

Governmental Response

The Director of FIU IND has addressed the Secretary of the Ministry of Electronics and Information Technology to take further measures due to the disregard of offshore firms. According to the notification, URLs connected to these organisations that operate in India in violation of the PML Act's requirements must be blocked. 

Mandatory Registration for VDA SPs

Virtual Digital Asset Service Providers (both onshore and offshore) who perform a range of operations, including the trading of digital goods for monetary currencies, the distribution of digital currency, and the management or preservation of electronic assets, are now obliged to register with FIU.

Range of Statutory Responsibilities

In accordance with the PML Act, VDA SPs are subject to several requirements, including documentation, disclosure, and other duties. One of their responsibilities is to register with the FIU IND. The primary focus is on guaranteeing that VDA SPs comply with AML-CFT protocols, hence enhancing the general reliability of the banking industry.

Difficulties with Offshore Compliance

There are many obstacles in guaranteeing that offshore organisations comply with Anti Money Laundering/Counter Financing of Terrorism (AML-CFT), chief amongst them being their unwillingness to undergo registration. Some overseas Virtual Digital Asset Service Providers (VDA SPs) have been reluctant to comply with the existing rules and regulations, even though they cater to a significant number of Indian users. There are several reasons for this hesitation, such as worries about heightened monitoring, the expense of compliance, and the apparent complexity of governmental processes. Regulatory organisations have taken steps to close the discrepancy between offshore businesses' real activities and the regulations they must follow. In addition to maintaining the trustworthiness of the economic system, resolving the issues with offshore adherence is essential for promoting confidence and openness in the market for electronic assets.

Conclusion

FIU IND has demonstrated its dedication to creating an effective regulatory framework for Virtual Digital Asset Service Providers through its recent measures. India hopes to fortify its countermeasures against money laundering and safeguard the financial well-being of its users by expanding the AML-CFT legislation to offshore firms. The continuous efforts to restrict the URLs of non-compliant companies show a proactive approach to stopping illicit activity and fostering a safe and law-abiding virtual asset ecosystem. The safety and soundness of the banking sector will be crucially maintained by laws and regulations as the digital world develops.

References

• https://pib.gov.in/PressReleasePage.aspx?PRID=1991372
• https://www.thehindubusinessline.com/books/reviews/business-economy/fiu-ind-issues-compliance-showcause-notices-to-nine-offshore-vda-sps/article67684613.ece
• https://business.outlookindia.com/news/fiu-issues-notice-to-9-offshore-crypto-platforms-writes-to-meity-for-blocking-of-urls

Introduction

In order to effectively deal with growing cyber crime and threats the Telangana police has taken initiative by launching Law Enforcement Chief Information Security Officers (CISO) Council, an innovative project launched in Telangana, India, which is a significant response to the growing cyber threat landscape. With cyber incidents increasing in the recent years and concerning statistics such as a tenfold rise in password-based attacks and an increase in ransomware attacks, the Council aims to strengthen the region's digital defenses. It primarily focuses on reducing vulnerability, improving resilience, and providing real-time threat intelligence. By promoting partnerships between the public and private sectors, offering legal and regulatory guidance, and facilitating networking and learning opportunities, this collaborative effort involving industry, academia, and law enforcement is a crucial move towards protecting critical infrastructure and businesses from cyber threats, the Telangana police in partnership with industry and academia, has launched the Law Enforcement CISO (Chief Information Security Officers) Council of India on 7^th October 2023. Chief of the Central Crime Station Stephen Ravindra said that the forum is a path-breaking initiative and the Council represents an open platform for all the enforcement agencies in the country. The upcoming inititiative inculcate close association with different stakeholders, which includes government departments, startups, centers of excellence and international collaborations, carving a nieche for a sturdy cybersecurity envirnoment. 

Enhancing Cybersecurity is the Need of the Hour:

The recent launch of the Law Enforcement CISO Council in Hyderabad, India emphasized the need for government organizations and industries to prioritize the protection of their digital space. Cyber incidents, ransomware attacks, and threats to critical infrastructure have been on the rise, making it essential to take proactive cybersecurity measures. Disturbing statistics regarding cyber threats, such as password-based attacks, BEC (Business Email Compromise) attempts, and vulnerabilities in the supply chain, highlight the importance of addressing these issues urgently. This initiative aims to provide real-time threat intelligence, legal guidance, and encourages collaboration between public and private organizations in order to combat cybercrime. Given that every cyber attack has criminal elements, the establishment of these councils is a crucial step towards minimizing vulnerabilities, enhancing resilience, and ensuring the security of our digital world.

International Issue & Domestic Issue:

The announcement by the Telangana State Police, is a proactive step to form a first-of-its-kind Law Enforcement CISO Council (LECC), as part of an initiative from the State government to give a further impetus to cyber security. Jointly with its law enforcement partners, the Telangana Police has decided to make cyber cops more efficient and shape them on par with the technology advancements. The Telangana police have proved its commitment for a secure cyber environment by recovering INR 2.2 crore and  INR 6.8 crore lost by people in cyber frauds which is industry’s highest rate of helping the victims. 

The Police department complemented efforts by corporate executives for their personal interest in the subject and mentioned police officers’ expertise and inputs from professionals from the industry need to work cohesively to prevent further increase in the number of cyber crime cases. Data indicates that the exponential increase in cyber threats in recent times necessitates an informed and prudent action with the cooperation and collaboration of the IT Department of Telangana, centers of excellence, start-ups, white hats or ethical hackers, and international associations.

A report from Telangana commissioner states the trend of a surge in the number of cyber incidents and vulnerabilities of Government organizations, Critical Infrastructure and MSMEs and stressed that every cyber security breaches have an element of criminality in it. The Law Enforcement CISO Council is a progressive step in this direction which ensures a reduced cyber attacks, enhanced resilience, actionable strategic and tactical real-time threat intelligence, legal guidance, opportunities for public private partnerships, networking, learning and much more.

The Secretary of SCSC, shared some alarming statistics on the threats that are currently rampant across the digital world. To combat it in today’s era of widespread digital dependence, the program launched by the Telangana Police stands as a commendable step or an initiative that offers a glimmer of aspiration. It brings together all the heroes who want to protect the digital spaces and counter the growing number of threats.

Contribution of Telangana Police for carving a niche to be followed:  

The launch of the Law Enforcement CISO Council in Telangana represents a pivotal step in addressing the pressing challenges posed by escalating cyber threats. As highlighted by the Director General of Police, the initiative recognizes the critical need to combat cybercrime, which is growing at an alarming rate. The Council not only acknowledges the casual approach often taken towards cybersecurity but also aims to rectify it by fostering collaboration between law enforcement, industry, and academia.

One of the most significant positive aspects of this initiative is its commitment to sharing intelligence, ensuring that the hard-earned lessons from cyber fraud victims are translated into protective measures for others. By collaborating with the IT Department of Telangana, centers of excellence, startups, and ethical hackers, the Council is poised to develop robust Standard Operating Protocols (SOPs) and innovative tools to counter cyber threats effectively.

Moreover, the Council's emphasis on Public-Private Partnerships (PPPs) underscores its proactive approach in dealing with the evolving landscape of cyber threats. It offers a platform for networking and learning, enabling information sharing, and will contribute to reducing the attack surface, enhancing resilience, and providing real-time threat intelligence. Additionally, the Council will provide legal and regulatory guidance, which is crucial in navigating the complex realm of cybercrime. This collective effort represents a promising way forward in safeguarding digital spaces, critical infrastructure, and industries against cyber threats and ensuring a safer digital future for all.

‍Conclusion:

The Law Enforcement CISO Council in Telangana is an innovative effort to strengthen cybersecurity in the state. With the rise in cybercrimes and vulnerabilities, the council brings together expertise from various sectors to establish a strong defense against digital threats. Its goals include reducing vulnerabilities, improving resilience, and ensuring timely threat intelligence. Additionally, the council provides guidance on legal and regulatory matters, promotes collaborations between the public and private sectors, and creates opportunities for networking and knowledge-sharing. Through these important initiatives, the CISO Council will play a crucial role in establishing digital security and protecting the state from cyber threats.

References:

• http://www.uniindia.com/telangana-police-launches-india-s-first-law-enforcement-ciso-council/south/news/3065497.html
• https://indtoday.com/telangana-police-launched-indias-first-law-enforcement-ciso-council/
• https://www.technologyforyou.org/telangana-police-launched-indias-first-law-enforcement-ciso-council/
• https://timesofindia.indiatimes.com/city/hyderabad/victims-of-cyber-fraud-get-back-rs-2-2-cr-lost-money-in-bank-a/cs/articleshow/104226477.cms?from=mdr

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Executive Summary: 

A viral post on X (formerly Twitter) has been spreading misleading captions about a video that falsely claims to depict severe wildfires in Los Angeles similar to the real wildfire happening in Los Angeles. Using AI Content Detection tools we confirmed that the footage shown is entirely AI-generated and not authentic. In this report, we’ll break down the claims, fact-check the information, and provide a clear summary of the misinformation that has emerged with this viral clip.

Claim:

A video shared across social media platforms and messaging apps alleges to show wildfires ravaging Los Angeles, suggesting an ongoing natural disaster.

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Fact Check:

After taking a close look at the video, we noticed some discrepancy such as the flames seem unnatural, the lighting is off, some glitches etc. which are usually seen in any AI generated video. Further we checked the video with an online AI content detection tool hive moderation, which says the video is AI generated, meaning that the video was deliberately created to mislead viewers. It’s crucial to stay alert to such deceptions, especially concerning serious topics like wildfires. Being well-informed allows us to navigate the complex information landscape and distinguish between real events and falsehoods.

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Conclusion: 

This video claiming to display wildfires in Los Angeles is AI generated, the case again reflects the importance of taking a minute to check if the information given is correct or not, especially when the matter is of severe importance, for example, a natural disaster. By being careful and cross-checking of the sources, we are able to minimize the spreading of misinformation and ensure that proper information reaches those who need it most.

• Claim: The video shows real footage of the ongoing wildfires in Los Angeles, California
• Claimed On: X (Formerly Known As Twitter)
• Fact Check: Fake Video