Sachet Loans on Google Pay
Introduction
Google India announced sachet loans on the Google Pay application to help small businesses in the country. Google India said that merchants in India often need smaller loans, hence, the tech giant launched sachet loans on the Gpay application. The company will provide loans to small businesses, which can be repaid in easier repayment instalments. To provide the load services, Google Pay has partnered with DMI Finance. This move comes at the Google for India, 2023, the flagship event to launch the Indian interventions planned by the big tech.
What is a Sachet Loan?
The loan system is the primary backbone of the global banking system. Since we have seen a massive transition towards the digital mode of transactions and banking operations, many online platforms have emerged. With the advent of QR codes, the Unified Payment Interface (UPI) has been rampantly used by Indians for making small or petty payments. Seeing this, Sachet loans made an advent as well, Sachet loans are essentially small-ticket loans ranging from Rs 10,000 to Rs 1 lakh, with repayment tenures between 7 days and 12 months. This nano-credit addresses immediate financial needs and is designed for swift approval and disbursement. Satchel loans are one of the most sought-after loan forms in the Western world. The ease of accessibility and easy repayment options have made it a successful form of money lending, which in turn has sparked the interest of the tech giant Google to execute similar operations in India.
Google Pay
Pertaining to the fact that UPI payments are the most preferred form of online payment, google came out with GPay in 2013 and now enjoys a user base of 67 million Indians. Google Pay has a 36.10% mobile application market share in India, and 26% of the UPI payments made have been through Google Pay. Google Pay adoption for in-store payments in India was higher in 2023 than it was in early 2019, signalling a growing use among consumers. The numbers shown here refer to the share of respondents who indicated they used Google Pay in the last 12 months, either for POS transactions with a mobile device in stores and restaurants or for online shopping. Eight out of 10 respondents from India indicated they had used Google Pay in a POS setting between April 2022 and March 2023, with an additional seven out of 10 saying they used Google Pay during this same time for online payments.
Pertaining to the Indian spectrum, the following aspects should be kept into consideration:
- PhonePe, Google Pay and Paytm accounted for nearly 96% of all UPI transactions by value in March
- PhonePe remained the top UPI app, processing 407.63 Cr transactions worth INR 7.07 Lakh Cr
- While Google Pay and Paytm retained second and third positions, respectively, Amazon Pay pushed CRED to the fifth spot in terms of the number of transactions
- Walmart-owned PhonePe, Google Pay and Paytm continued their dominance in India’s UPI payments space, together processing 94% of payments in March 2023.
- According to data from the National Payments Corporation of India (NPCI), the top three apps accounted for nearly 96% of all UPI transactions by value. This translates to about 841.91 Cr transactions worth INR 13.44 Lakh Cr between the three apps.
Conclusion
The big tech giant Google.org has been fundamental in creating and provisioning best-in-class services which are easily accessible to all the netizens. Satchel loans are the new services introduced by the platform and the widespread access of Gpay will go a long way in providing financial services and ease to the deprived and needy lot of the Indian population. This transition can also be seen by other payment portals like Paypal and Paytm, which clearly shows India's massive potential in leading the world of online banking and UPI transactions. As per stats, 40% of global online banking transactions take place in India. These aspects, coupled with the cores of Digital India and Make in India, clearly show how India is the global destination for investment in the current era.
References
- https://www.livemint.com/companies/news/google-enters-retail-loan-business-in-india-11697697999246.html
- https://www.statista.com/statistics/1389649/google-pay-adoption-in-india/#:~:text=Eight%20out%20of%2010%20respondents,same%20time%20for%20online%20payments
- https://playtoday.co/blog/stats/google-pay-statistics/#:~:text=67%20million%20active%20users%20of%20Google%20Pay%20are%20in%20India.&text=Google%20Pay%20users%20in%20India,in%2Dstore%20and%20online%20purchases.
- https://inc42.com/buzz/phonepe-google-pay-paytm-process-94-of-upi-transactions-march-2023/
Related Blogs
Executive Summary:
QakBot, a particular kind of banking trojan virus, is capable of stealing personal data, banking passwords, and session data from a user's computer. Since its first discovery in 2009, Qakbot has had substantial modifications.
C2 Server commands infected devices and receives stolen data, which is essentially the brain behind Qakbot's operations.Qakbot employs PEDLL (Communication Files), a malicious program, to interact with the server in order to accomplish its main goals. Sensitive data, including passwords or personal information, is taken from the victims and sent to the C2 server. Referrer files start the main line of communication between Qakbot and the C2 server, such as phishing papers or malware droppers. WHOIS data includes registration details for this server, which helps to identify its ownership or place of origin.
This report specifically focuses on the C2 server infrastructure located in India, shedding light on its architecture, communication patterns, and threat landscape.
Introduction:
QakBot is also known as Pinkslipbot, QuakBot, and QBot, capable of stealing personal data, banking passwords, and session data from a user's computer. Malware is bad since it spreads very quickly to other networks, affecting them like a worm.,It employs contemporary methods like web injection to eavesdrop on customer online banking interactions. Qakbot is a member of a kind of malware that has robust persistence techniques, which are said to be the most advanced in order to gain access to compromised computers for extended periods of time.
Technical Analysis:
The following IP addresses have been confirmed as active C2 servers supporting Qbot malware activity:
Sample IP's
- 123.201.40[.]112
- 117.198.151[.]182
- 103.250.38[.]115
- 49.33.237[.]65
- 202.134.178[.]157
- 124.123.42[.]115
- 115.96.64[.]9
- 123.201.44[.]86
- 117.202.161[.]73
- 136.232.254[.]46
These servers have been operational in the past 14 days (report created in the month of Nov) and are being leveraged to perpetuate malicious activities globally.
URL/IP: 123.201.40[.]112
- inetnum: 123.201.32[.]0 - 123.201.47[.]255
- netname: YOUTELE
- descr: YOU Telecom India Pvt Ltd
- country: IN
- admin-c: HA348-AP
- tech-c: NI23-AP
- status: ASSIGNED NON-PORTABLE
- mnt-by: MAINT-IN-YOU
- last-modified: 2022-08-16T06:43:19Z
- mnt-irt: IRT-IN-YOU
- source: APNIC
- irt: IRT-IN-YOU
- address: YOU Broadband India Limited
- address: 2nd Floor, Millennium Arcade
- address: Opp. Samarth Park, Adajan-Hazira Road
- address: Surat-395009,Gujarat
- address: India
- e-mail: abuse@youbroadband.co.in
- abuse-mailbox: abuse@youbroadband.co.in
- admin-c: HA348-AP
- tech-c: NI23-AP
- auth: # Filtered
- mnt-by: MAINT-IN-YOU
- last-modified: 2022-08-08T10:30:51Z
- source: APNIC
- person: Harindra Akbari
- nic-hdl: HA348-AP
- e-mail: harindra.akbari@youbroadband.co.in
- address: YOU Broadband India Limited
- address: 2nd Floor, Millennium Arcade
- address: Opp. Samarth Park, Adajan-Hazira Road
- address: Surat-395009,Gujarat
- address: India
- phone: +91-261-7113400
- fax-no: +91-261-2789501
- country: IN
- mnt-by: MAINT-IN-YOU
- last-modified: 2022-08-10T11:01:47Z
- source: APNIC
- person: NOC IQARA
- nic-hdl: NI23-AP
- e-mail: network@youbroadband.co.in
- address: YOU Broadband India Limited
- address: 2nd Floor, Millennium Arcade
- address: Opp. Samarth Park, Adajan-Hazira Road
- address: Surat-395009,Gujarat
- address: India
- phone: +91-261-7113400
- fax-no: +91-261-2789501
- country: IN
- mnt-by: MAINT-IN-YOU
- last-modified: 2022-08-08T10:18:09Z
- source: APNIC
- route: 123.201.40.0/24
- descr: YOU Broadband & Cable India Ltd.
- origin: AS18207
- mnt-lower: MAINT-IN-YOU
- mnt-routes: MAINT-IN-YOU
- mnt-by: MAINT-IN-YOU
- last-modified: 2012-01-25T11:25:55Z
- source: APNIC
IP 123.201.40[.]112 uses the requested URL-path to make a GET request on the IP-address at port 80. "NOT RESPONDED" is the response status code for the request "C:\PROGRAM FILES GOOGLE CHROME APPLICATION CHROME.EXE" that was started by the process.
Programs that retrieve their server data using a GET request are considered legitimate. The Google Chrome browser, a fully functional application widely used for web browsing, was used to make the actual request. It asks to get access to the server with IP 123.201.40[.]112 in order to collect its data and other resources.
Malware uses GET requests to retrieve more commands or to send data back to the command and control servers. In this instance, it may be an attack server making the request to a known IP address with a known port number. Since the server has not replied to the request, the response status "NOT RESPONDED" may indicate that the activity was carried out with malicious intent.
This graph illustrates how the Qakbot virus operates and interacts with its C2 server, located in India and with the IP address 123.201.40[.]112.
Impact
Qbot is a kind of malware that is typically distributed through hacked websites, malicious email attachments, and phishing operations. It targets private user information, including corporate logins or banking passwords. The deployment of ransomware: Payloads from organizations such as ProLock and Egregor ransomware are delivered by Qbot, a predecessor. Network Vulnerability: Within corporate networks, compromised systems will act as gateways for more lateral movement.
Proposed Recommendations for Mitigation
- Quick Action: To stop any incoming or outgoing traffic, the discovered IP addresses will be added to intrusion detection/prevention systems and firewalls.
- Network monitoring: Examining network log information for any attempts to get in touch with these IPs
- Email security: Give permission for anti-phishing programs.
- Endpoint Protection: To identify and stop Qbot infestations, update antivirus definitions.,Install tools for endpoint detection and response.
- Patch management: To reduce vulnerabilities that Qbot exploits, update all operating systems and software on a regular basis.
- Incident Response: Immediately isolate compromised computers.
- Awareness: Dissemination of this information to block the IP addresses of active C2 servers supporting Qbot malware activity has to be carried out.
Conclusion:
The discovery of these C2 servers reveals the growing danger scenario that Indian networks must contend with. To protect its infrastructure from future abuse, organizations are urged to act quickly and put the aforementioned precautions into place.
Reference:
- Threat Intelligence - ANY.RUN
- https://www.virustotal.com/gui
- https://www.virustotal.com/gui/ip-address/123.201.40.112/relations
Executive Summary:
A viral online video claims visuals of a massive rally organised in Manipur for stopping the violence in Manipur. However, the CyberPeace Research Team has confirmed that the video is a deep fake, created using AI technology to manipulate the crowd into existence. There is no original footage in connection to any similar protest. The claim that promotes the same is therefore, false and misleading.
Claims:
A viral post falsely claims of a massive rally held in Manipur.
Fact Check:
Upon receiving the viral posts, we conducted a Google Lens search on the keyframes of the video. We could not locate any authentic sources mentioning such event held recently or previously. The viral video exhibited signs of digital manipulation, prompting a deeper investigation.
We used AI detection tools, such as TrueMedia and Hive AI Detection tool, to analyze the video. The analysis confirmed with 99.7% confidence that the video was a deepfake. The tools identified "substantial evidence of manipulation," particularly in the crowd and colour gradience , which were found to be artificially generated.
Additionally, an extensive review of official statements and interviews with Manipur State officials revealed no mention of any such rally. No credible reports were found linking to such protests, further confirming the video’s inauthenticity.
Conclusion:
The viral video claims visuals of a massive rally held in Manipur. The research using various tools such as truemedia.org and other AI detection tools confirms that the video is manipulated using AI technology. Additionally, there is no information in any official sources. Thus, the CyberPeace Research Team confirms that the video was manipulated using AI technology, making the claim false and misleading.
- Claim: Massive rally held in Manipur against the ongoing violence viral on social media.
- Claimed on: Instagram and X(Formerly Twitter)
- Fact Check: False & Misleading
Executive Summary:
A viral online image claims to show Arvind Kejriwal, Chief Minister of Delhi, welcoming Elon Musk during his visit to India to discuss Delhi’s administrative policies. However, the CyberPeace Research Team has confirmed that the image is a deep fake, created using AI technology. The assertion that Elon Musk visited India to discuss Delhi’s administrative policies is false and misleading.
Claim
A viral image claims that Arvind Kejriwal welcomed Elon Musk during his visit to India to discuss Delhi’s administrative policies.
Fact Check:
Upon receiving the viral posts, we conducted a reverse image search using InVid Reverse Image searching tool. The search traced the image back to different unrelated sources featuring both Arvind Kejriwal and Elon Musk, but none of the sources depicted them together or involved any such event. The viral image displayed visible inconsistencies, such as lighting disparities and unnatural blending, which prompted further investigation.
Using advanced AI detection tools like TrueMedia.org and Hive AI Detection tool, we analyzed the image. The analysis confirmed with 97.5% confidence that the image was a deepfake. The tools identified “substantial evidence of manipulation,” particularly in the merging of facial features and the alignment of clothes and background, which were artificially generated.
Moreover, a review of official statements and credible reports revealed no record of Elon Musk visiting India to discuss Delhi’s administrative policies. Neither Arvind Kejriwal’s office nor Tesla or SpaceX made any announcement regarding such an event, further debunking the viral claim.
Conclusion:
The viral image claiming that Arvind Kejriwal welcomed Elon Musk during his visit to India to discuss Delhi’s administrative policies is a deep fake. Tools like Reverse Image search and AI detection confirm the image’s manipulation through AI technology. Additionally, there is no supporting evidence from any credible sources. The CyberPeace Research Team confirms the claim is false and misleading.
- Claim: Arvind Kejriwal welcomed Elon Musk to India to discuss Delhi’s administrative policies, viral on social media.
- Claimed on: Facebook and X(Formerly Twitter)
- Fact Check: False & Misleading
