PayPal enters into settlement with RBI, suspension revoked
Recently, RBI had suspended PayPal services in India, because it did not comply with the Payment and Settlement Systems Act, 2007. This Act stipulated that no person other than the RBI can commence or operate a payment system, except with an authorization issued by the RBI and exiting payment systems would cease to have the right to carry on their operations, unless they obtained an authorization within six months from the commencement of the act in August 2008. But PayPal failed to take any action.
Further, RBI had issued a notification (RBI notification no RBI/2009-10/231) on 24 November 2009 under Sec 18 of the said Act, which provided ‘Directions for opening and operation of Accounts and settlement of payments for electronic payment transactions involving intermediaries‘ and was to be complied within 3 months of issue of these directions.
But after talks between RBI and PayPal, RBI has allowed Paypal to resume bank withdrawals for settlements for exports of goods and services, subject to exporters providing IEC (Import Export Code) at the time of withdrawal. IEC is required under the current foreign exchange laws of India in order to identify the nature of cross-border merchant transactions.
1. Wipro's Employee embezzled $4 million, investigations on...
IT major Wipro Technologies on Wednesday said it has detected embezzlement by one of its employees and the probe is on. The company did not give details of the fraud, but speculation was that it was around $4 million.
2. Delhi Police arrests nigerians for online fraud and cheating
A team of Lodhi Colony police of South district led by SHO Rajender Singh has arrested four Nigerian nationals and a female Indian Mujahideen operative, who was involved in the 2002 American Center, Kolkata, attack, for duping a Gujarat-based businessman to the tune of Rs 4.5 lakh by selling him fake herbal products online.
3. Business Email Hacked - FIR registered with Delhi Police
A recent FIR registered with Delhi Police, points how a weak password can sometimes lead to loss of business profits. In the said matter… it is alleged by the complainant that the hacker has contaminated the complainant’s computer with viruses, business and personal emails have been hacked, downloaded all the critical business information and have attempted to contact their customer.
4. IT Act: Phishing (banking) email scam busted
Cyber Cell sleuths of the CB-CID in Chennai have busted an online banking racket run by hackers with a string of ‘money mules’ in different parts of the country. The hackers stole identities through phishing e-mail addresses or by planting ‘key logger’ software.
5. Times of India group guilty under Sections 67,67A and 67B? Will Police Act?
We have been debating how Times of India through its front page article on February 11, in its print editions took up promoting and advertising pornography on Internet through the savitabhabhi.com (since banned by Government of India) and its clone which is now in operation.
1. US Court fixes location of Domain Name based upon its registry address
In December 2000, Office Depot obtained a judgment against Zuccarini under the Anticybersquatting Consumer Protection Act of 1999 (“ACPA”), 15 U.S.C. § 1125(d), rising out of Zuccarini’s registration of the domain name “officdepot.com.” Office Depot was unable to collect on the judgment and eventually assigned the judgment to DSH. DSH sought to levy upon some of the other domain names owned by Zuccarini. DSH registered the judgment in the district court for the Northern District of California. DSH then obtained a preservation order from the district court and engaged in discovery. It learned that Zuccarini owned more than 248 domain names registered with VeriSign, of which more than 190 were “.com” domain names. DSH targeted the “.com” domain names in its levy.
2. Iceman gets 13 years, must pay $27.5M to hacking victims
A former security researcher turned criminal hacker has been sentenced to 13 years in federal prison for hacking into financial institutions and stealing credit card account numbers. Max Ray Butler, who used the hacker pseudonym Iceman, was sentenced Friday morning in U.S. District Court in Pittsburgh on charges of wire fraud and identity theft.
3. Four Indicted in $25 Million Scheme Defrauding and Hacking Ticketmaster, Tickets.com
Three men who used fraud, deceit, and computer hacking to make more than $25 million by acquiring and reselling more than 1.5 million of the most coveted tickets to concerts, sporting events, and live entertainment throughout the United States surrendered to federal authorities this morning after being charged in an Indictment, U.S. Attorney Paul J. Fishman announced.
4. Kingdom of Sweden accepts request for transfer of prosecution in case involving Swedish
The Kingdom of Sweden accepted the request to transfer the prosecution of Philip Gabriel Pettersson, aka “Stakkato,”. On May 5, 2009, Pettersson, a Swedish national, was indicted on five counts involving intrusion and trade secret theft charges.
5. Microsoft Takes Down Whistleblower Site, Read the Secret Doc Here
Microsoft has managed to do what a roomful of secretive, three-letter government agencies have wanted to do for years: get the whistleblowing, government-document sharing site Cryptome shut down. Microsoft dropped a DMCA notice alleging copyright infringement on Cryptome’s proprietor John Young on Tuesday after he posted a Microsoft surveillance compliance document that the company gives to law enforcement agents seeking information on Microsoft users.
1. UK BitTorrent admin acquitted on fraud charge
Alan Ellis, the former admin of music BitTorrent tracker OiNK, was acquitted of conspiracy to defraud by a Middlesbrough court today. In a landmark trial, the 26-year-old stood accused of making $300,000 in user donations from the invite-only service, which members used to share high quality and pre-release music.
2. French Parliament approves Net censorship
During the debate over the French security bill (LOPPSI), the government opposed all the amendments seeking to minimize the risks attached to filtering Internet sites. The refusal to make this measure experimental and temporary shows that the executive could not care less about its effectivity to tackle online child pornography or about its disastrous consequences.
3. Poland: Three Arrested As Police Swoop on Rapidshare Link Forum
An Internet forum which provided links to movies and TV shows hosted on sites such as Rapidshare has been raided by police. Following an anti-piracy group investigation, three alleged operators of the 30,000 member site were arrested, two of which were teenagers. Searches were carried out on members in three other locations.
4. German court rejects police data snooping store
Germany's High Court has told police and secret services that they must stop storing email and telephone data and delete information already collected. The storage of six months' worth of German comms data for police and anti-terrorism purposes was required by a European Union directive.
5. Italy Privacy Law violation: Google execs face imprisonment for video upload
An Italian judge on Wednesday held three Google executives criminally responsible for an online video of an autistic teenager being bullied — a verdict that raises concerns that the Internet giant, and others like it, may be forced to police their content in Italy, and even beyond. The reaction to the verdict in the United States was swift and nearly unanimous in its condemnation of a dangerous precedent experts said threatens the principle of a free and open Internet.
1. China's Domain Registration process tougher, new guidelines
Chinese government issued new guidelines for Domain Registration of domains with .cn extension that requires Website owners to submit their photographs and meet ISP in person.
2. Major Hacking Breakthrough Reported by China
Amidst the very public outcry over current hacking and cyber attacks originating from within China, the country has revealed that it has shut down a major hacking site. Reporting that they had made arrests of three individuals who ran the site, they revealed that the Black Hawk Safety Net website gave lessons in how to hack and offered malicious software for sale.
3. Malaysian Police Uncover Online Prostitution
The Jakarta Cyber Crime Unit of the Special Criminal Directorate has uncovered online prostitution sites and blogs. “A suspect named YD, who owned a prostitution blog and site, was arrested,” Jakarta Police spokesperson, Commissioner General Boy Rafli Amar told Tempo in his office, on Monday.
4. ISP did not authorise customers' copyright infringement, says Australian court
An ISP was not liable for the copyright infringement of its customers, an Australian court has ruled, in what the judge claimed was the world's first full trial of its kind. Australian and UK law on copyright liability are very similar. Roadshow Films lost its case against internet service provider (ISP) iiNet in the Federal Court of Australia when the judge ruled that iiNet's provision of internet access did not mean that it had 'authorised' the copyright infringing behaviour of its subscribers.
5. Opposition grows to internet filter: AUS
BACKBENCH MPs on both sides of politics opposed to the government's internet filtering proposal are vigorously lobbying their colleagues, creating a potential roadblock to the plan backed by the Communications Minister, Stephen Conroy.
1. PIN hack could leave cardholders exposed to losses, say researchers
Security researchers have found a way to make purchases with a stolen credit or debit card without knowing the personal identification number (PIN) associated with it. The exploit uses a hidden machine to manipulate the chip on the card.
2. Google says sorry and changes Buzz after privacy outcry
Google has made major changes to the way its new social networking service works after being at the centre of a storm of criticism claiming that the service had violated users' privacy.
3. UN issues call for international privacy agreement
A UN watchdog has called for a new international agreement on privacy following a review of the expanding global array of surveillance measures and databases advanced by governments in the cause of counter-terrorism.
4. Social networking sites failing to hide kids' details, finds European Commission
More than half of social networking sites assessed by the European Commission fail to hide the personal details of under-18s by default, the EU body has warned. It said that 50% of teenagers display personal information on the internet. The Commission analysed the policies of 22 social networking sites in a study aimed at finding out how well-protected under-18s were when using them as part of a campaign to urge young people to protect their information online.
5. Users run security risk by re-using banking passwords
Nearly three-quarters of online banking users are putting the security of their accounts at risk by re-using their passwords at other, less secure sites. Nearly half use both their usernames and passwords at other sites, increasing the security risk. The maker of a piece of software that claims to help web users increase their security has analysed the activity of four million users of its Rapport software.
