#FactCheck - Viral Video Misleadingly Tied to Recent Taiwan Earthquake

Introduction

‍

The banking and finance sector worldwide is among the most vulnerable to cybersecurity attacks. Moreover, traditional threats such as DDoS attacks, ransomware, supply chain attacks, phishing, and Advanced Persistent Threats (APTs) are becoming increasingly potent with the growing adoption of AI. It is crucial for banking and financial institutions to stay ahead of the curve when it comes to their cybersecurity posture, something that is possible only through a systematic approach to security. In this context, the Reserve Bank of India’s latest Financial Stability Report (June 2025) acknowledges that cybersecurity risks are systemic to the sector, particularly the securities market, and have to be treated as such. 

What the Financial Stability Report June 2025 Says

‍

The report notes that the increasing scale of digital financial services, cloud-based architecture, and interconnected systems has expanded the cyberattack surface across sectors.   It calls for building cybersecurity resilience by improving Security Operations Center (SOC) efficacy, undertaking “risk-based supervision”, implementing “zero-trust approaches”, and “AI-aware defense strategies”. It also recommends the implementation of graded monitoring systems, employing behavioral analytics for threat detection, building adequate skill through hands-on training, engaging in continuous learning and simulation-based exercises like Continuous Assessment-Based Red Teaming (CART), conducting scenario-based resilience drills, and establishing consistent incident reporting frameworks. In addition, it suggests that organizations need to adopt quantifiable benchmarks like SOC Efficacy and Cyber Capability Index to guarantee efficient governance and readiness.

Implications

‍

Firstly, even though the report doesn’t break new ground in identifying cyber risk,  it does sharpen its urgency and lays the groundwork for giving more weight to cybersecurity in macroprudential supervision. In the face of emerging threats, it positions cyberattacks as a systemic financial risk that can affect India’s financial stability with the same seriousness as traditional threats like NPAs and capital inadequacy. 

Secondly, by calling to “ensure cyber resilience”, it reflects the RBI’s dedication to  values-based compliance to cybersecurity policies where effectiveness and adaptability matter more than box-ticking. This approach caters to an organisation’s/ sector’s unique nature, governance requirements, and updates to rising risks. It checks not only if certain measures were used, but also if they were effective, through constant self-assessment, scenario-based training, cyber drills, dynamic risk management, and value-driven audits. In the face of a rapidly expanding digital transactions ecosystem with integration of new technologies such as AI, this approach is imperative to building cyber resilience. The RBI’s report suggests exactly this need for banks and NBFCs to update its parameters for resilience.

Conclusion 

‍

While the RBI’s 2016 guidelines focus on core cybersecurity concerns and has issued guidelines on IT governance, outsourcing, and digital payment security, none explicitly codify “AI-aware,” “zero-trust,” or a full “risk-based supervision” mechanism. The more recent emphasis on these concepts comes from the 2025 Financial Stability Report, which uses them as forward-looking policy orientations. How the RBI chooses to operationalize these frameworks is yet to be seen. Further,  RBI’s vision cannot operate in a silo. Cross-sector regulators like SEBI, IRDAI, and DoT must align on cyber standards and incident reporting protocols.

In the meanwhile, highly vulnerable sectors like education and healthcare, which have weaker cybersecurity capabilities, can take a leaf from RBI’s book by ensuring that cybersecurity is treated as a continuously evolving issue . Many institutions in these sectors are known to perform goals-based compliance through a simple checklist approach. Institutions that take the lead in implementing zero-trust, diversifying vendor dependencies, and investing in cyber resilience will not only meet regulatory expectations but build long-term competitive advantage.

References

• https://economictimes.indiatimes.com/news/economy/policy/adopt-risk-based-supervision-zero-trust-approach-to-curb-cyberfrauds-rbi/articleshow/122164631.cms?from=mdr-%20500
• https://paramountassure.com/blog/value-driven-cybersecurity/ 
• https://www.rbi.org.in/commonman/english/Scripts/Notification.aspx?Id=1721 ‍
• https://rbidocs.rbi.org.in/rdocs//PublicationReport/Pdfs/0FSRJUNE20253006258AE798B4484642AD861CC35BC2CB3D8E.PDF

Introduction

The rise of misinformation, disinformation, and synthetic media content on the internet and social media platforms has raised serious concerns, emphasizing the need for responsible use of social media to maintain information accuracy and combat misinformation incidents. With online misinformation rampant all over the world, the World Economic Forum's 2024 Global Risk Report, notably ranks India amongst the highest in terms of risk of mis/disinformation. 

The widespread online misinformation on social media platforms necessitates a joint effort between tech/social media platforms and the government to counter such incidents. The Indian government is actively seeking to collaborate with tech/social media platforms to foster a safe and trustworthy digital environment and to also ensure compliance with intermediary rules and regulations. The Ministry of Information and Broadcasting has used ‘extraordinary powers’ to block certain YouTube channels, X (Twitter) & Facebook accounts, allegedly used to spread harmful misinformation. The government has issued advisories regulating deepfake and misinformation, and social media platforms initiated efforts to implement algorithmic and technical improvements to counter misinformation and secure the information landscape.

Efforts by the Government and Social Media Platforms to Combat Misinformation

1. Advisory regulating AI, deepfake and misinformation

The Ministry of Electronics and Information Technology (MeitY) issued a modified advisory on 15th March 2024, in suppression of the advisory issued on 1st March 2024. The latest advisory specifies that the platforms should inform all users about the consequences of dealing with unlawful information on platforms, including disabling access, removing non-compliant information, suspension or termination of access or usage rights of the user to their user account and imposing punishment under applicable law. The advisory necessitates identifying synthetically created content across various formats, and instructs platforms to employ labels, unique identifiers, or metadata to ensure transparency. 

2. Rules related to content regulation

The Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (Updated as on 6.4.2023) have been enacted under the IT Act, 2000. These rules assign specific obligations on intermediaries as to what kind of information is to be hosted, displayed, uploaded, published, transmitted, stored or shared. The rules also specify provisions to establish a grievance redressal mechanism by platforms and remove unlawful content within stipulated time frames.

3. Counteracting misinformation during Indian elections 2024

To counter misinformation during the Indian elections the government and social media platforms made their best efforts to ensure the electoral integrity was saved from any threat of mis/disinformation. The Election Commission of India (ECI) further launched the 'Myth vs Reality Register' to combat misinformation and to ensure the integrity of the electoral process during the general elections in 2024. The ECI collaborated with Google to empower the citizenry by making it easy to find critical voting information on Google Search and YouTube. In this way, Google has supported the 2024 Indian General Election by providing high-quality information to voters and helping people navigate AI-generated content. Google connected voters to helpful information through product features that show data from trusted institutions across its portfolio. YouTube showcased election information panels, featuring content from authoritative sources.

4. YouTube and X (Twitter) new ‘Notes Feature’

• Notes Feature on YouTube: YouTube is testing an experimental feature that allows users to add notes to provide relevant, timely, and easy-to-understand context for videos. This initiative builds on previous products that display helpful information alongside videos, such as information panels and disclosure requirements when content is altered or synthetic. YouTube clarified that the pilot will be available on mobiles in the U.S. and in the English language, to start with. During this test phase, viewers, participants, and creators are invited to give feedback on the quality of the notes.
• Community Notes feature on X: Community Notes on X aims to enhance the understanding of potentially misleading posts by allowing users to add context to them. Contributors can leave notes on any post, and if enough people rate the note as helpful, it will be publicly displayed. The algorithm is open source and publicly available on GitHub, allowing anyone to audit, analyze, or suggest improvements. However, Community Notes do not represent X's viewpoint and cannot be edited or modified by their teams. A post with a Community Note will not be labelled, removed, or addressed by X unless it violates the X Rules, Terms of Service, or Privacy Policy. Failure to abide by these rules can result in removal from accessing Community Notes and/or other remediations. Users can report notes that do not comply with the rules by selecting the menu on a note and selecting ‘Report’ or using the provided form.

CyberPeace Policy Recommendations

Countering widespread online misinformation on social media platforms requires a multipronged approach that involves joint efforts from different stakeholders. Platforms should invest in state-of-the-art algorithms and technology to detect and flag suspected misleading information. They should also establish trustworthy fact-checking protocols and collaborate with expert fact-checking groups. Campaigns, seminars, and other educational materials must be encouraged by the government to increase public awareness and digital literacy about the mis/disinformation risks and impacts. Netizens should be empowered with the necessary skills and ability to discern fact and misleading information to successfully browse true information in the digital information age. The joint efforts by Government authorities, tech companies, and expert cyber security organisations are vital in promoting a secure and honest online information landscape and countering the spread of mis/disinformation. Platforms must encourage netizens/users to foster appropriate online conduct while using platforms and abiding by the terms & conditions and community guidelines of the platforms. Encouraging a culture of truth and integrity on the internet, honouring differing points of view, and confirming facts all help to create a more reliable and information-resilient environment. 

References:

1. https://www.meity.gov.in/writereaddata/files/Advisory%2015March%202024.pdf
2. https://blog.google/intl/en-in/company-news/outreach-initiatives/supporting-the-2024-indian-general-election/
3. https://blog.youtube/news-and-events/new-ways-to-offer-viewers-more-context/
4. https://help.x.com/en/using-x/community-notes

‍

Introduction

US President Biden takes a step by signing a key executive order to manage the risks posed by AI. The new presidential order on Artificial intelligence (AI) sets rules on the rapidly growing technology that has big potential but also covers risks. The presidential order was signed on 30th October 2023. It is a strong action that the US president has taken on AI safety and security. This order will require the developers to work on the most powerful AI model to share their safety test results with the government before releasing their product to the public. It also includes developing standards for ethically using AI and for detecting AI-generated content and labelling it as such. Tackling the many dangers of AI as it rapidly advances, the technology poses certain risks by replacing human workers, spreading misinformation and stealing people's data. The white house is also making clear that this is not just America’s problem and that the US needs to work with the world to set standards here and to ensure the responsible use of AI. The white house is also urging Congress to do more and pass comprehensive privacy legislation. The order includes new safety guidelines for AI developers, standards to disclose AI-generated content and requirements for federal agencies that are utilising AI. The white house says that it is the strongest action that any government has taken on AI safety and security. In the most recent events, India has reported the biggest ever data breach, where data of 815 million Indians has been leaked. ICMR is the Indian Council of Medical Research and is the imperial medical research institution of India. 

Key highlights of the presidential order

The presidential order requires developers to share safety test results. It focuses on developing standards, tools & tests to ensure safe AI. It will ensure protection from AI-enabled frauds and protect Americans' privacy, advance equity and civil rights, stand up for consumers and workers, promote innovation and competition, protect against risks of using AI to engineer dangerous material and provide guidelines for detecting AI -AI-generated content and establishing overall standards for AI safety and security.

Online content authentication and labelling 

Biden administration has asked the Department of Commerce to set guidelines to help authenticate content coming from the government, meaning the American people should be able to trust official documents coming from the government. So, focusing on content authentication, they have also talked about labelling AI-generated content, making the differentiation between a real authentic piece of content and something that has been manipulated or generated using AI. 

ICMR Breach

On 31/10/2023, an American intelligence and cybersecurity agency flagged the biggest-ever data breach, putting the data of 81.5 crore Indians at stake and at at potential risk of making its way to the dark market. The cyber agency has informed that a ‘threat actor’, also known as  ‘pwn001’ shared a thread on Breach Forums, which is essentially claimed as the ‘premier Databreach discussion and leaks forum’. The forum confirms a breach of 81.5 crore Indians. As of today,, ICRM has not issued any official statement, but it has informed the government that the prestigious Central Bureau of Investigation (CBI) will be taking on the investigation and apprehending the cybercriminals behind the cyber attack. The bad actor’s alias, 'pwn001,' made a post on X (formerly Twitter); the post informed that Aadhaar and passport information, along with personal data such as names, phone numbers, and addresses. It is claimed that the data was extracted from the COVID-19 test details of citizens registered with ICMR. This poses a serious threat to the Indian Netizen from any form of cybercrime from anywhere in the world. 

Conclusion:

The US presidential order on AI is a move towards making Artificial intelligence safe and secure. This is a major step by the Biden administration, which is going to protect both Americans and the world from the considerable dangers of AI.  The presidential order requires developing standards, tools, and tests to ensure AI safety. The US administration will work with allies and global partners, including India, to develop a strong international framework to govern the development and use of AI. It will ensure the responsible use of AI. With the passing of legislation such as the Digital Personal Data Protection Act, 2023, it is pertinent that the Indian government works towards creating precautionary and preventive measures to protect Indian data. As the evolution of cyber laws is coming along, we need to keep an eye on emerging technologies and update/amend our digital routines and hygienes to stay safe and secure. 

References:

• https://m.dailyhunt.in/news/india/english/lokmattimes+english-epaper-lokmaten/biden+signs+landmark+executive+order+to+manage+ai+risks-newsid-n551950866?sm=Y
• https://www.hindustantimes.com/technology/in-indias-biggest-data-breach-personal-information-of-81-5-crore-people-leaked-101698719306335-amp.html?utm_campaign=fullarticle&utm_medium=referral&utm_source=inshorts

‍

‍