Cybersecurity

How the application ‘XHelper’ is powering the Indian money-laundering gig economy

Cybercriminals are using a massive network of hired mules in India and an Android-based money transfer application to launder illicit proceeds, researchers have found. According to an investigation by the Singapore-based cybersecurity company CloudSEK, the money mules — who are recruited to receive and then quickly transfer funds to obscure their origin — are managed […]

Cybersecurity

How Cybercriminals are Exploiting India’s UPI for Money Laundering Operations

Cybercriminals are using a network of hired money mules in India using an Android-based application to orchestrate a massive money laundering scheme. The malicious application, called XHelper, is a “key tool for onboarding and managing these money mules,” CloudSEK researchers Sparsh Kulshrestha, Abhishek Mathew, and Santripti Bhujel said in a report. Details about the scam […]

Cybersecurity

Pentagon reveals updated cost estimates for CMMC implementation

The Department of Defense provided new projections for how much money contractors and other organizations will have to spend to implement the Pentagon’s Cybersecurity Maturity Model Certification program. The updated estimates were included in a proposed rule for CMMC 2.0 that was published Tuesday in the Federal Register. The program would mandate that defense contractors […]

Cybersecurity

Four Charged in Connection With $80m Pig Butchering Scheme

Four US residents have been charged with a series of money laundering offenses connected to a major “pig butchering” fraud syndicate. Lu Zhang, 36, of Alhambra, California; Justin Walker, 31, of Cypress, California; Joseph Wong, 32, of Rosemead, California; and Hailong Zhu, 40, of Naperville, Illinois, are charged with conspiracy to commit money laundering, concealment […]