News In Shorts

The Department of Telecommunications (DoT) has introduced a Financial Fraud Risk Indicator (FRI) to combat mobile-based cyber fraud.

The Indicator allows for swift, targeted, and collaborative action against suspected frauds in both telecom and financial domains.

What is Financial Fraud Risk Indicator (FRI)?

• It is a risk-based metric that classifies a mobile number to have been associated with Medium, High, or Very High risk of financial fraud. 
  • This classification is an outcome of inputs obtained from: National Cybercrime Reporting Portal (NCRP), DoT’s Chakshu facility and Digital Intelligence Platform (DIP) and Intelligence shared by banks and financial institutions.

• It empowers stakeholders such as banks, NBFCs, and UPI service providers to prioritize enforcement and take additional customer protection measures in case a mobile number have high risk.

Status of Cyber Financial Frauds in India

• Between Financial Year 2020 and 2024, Approx. ₹3,207 crore was lost due to 5,82,000 cases of cyber fraud.
• Some common methods of financial frauds are: KYC Fraud, Customer Care Fraud, UPI Fraud, Card Fraud, Digital Arrest Fraud, Investment Frauds and Get Rich Quick Schemes, etc.

The Government of India has appointed a new chairman along with 7 new members in the National Security Advisory Board (NSAB).

About NSAB

• It was first constituted in December 1998, as an advisory body of eminent persons outside the government, including industry, media and civil society, among others. 
  • It is assisted by the National Security Council Secretariat (NSCS).
• Functions: To undertake long term analysis and to provide perspectives on the national security issues to the National Security Council (NSC).
  • It also recommends measures and policy options on the issues referred to it by the NSC.

The UN Office of Counter-Terrorism (UNOCT) launched VoTAN, a global network to support victims and survivors of terrorism.

About VoTAN

• Background: The Group of Friends of Victims of Terrorism, chaired by Spain and Iraq, was established nearly six years ago to uphold the need to protect victims’ rights. 
• Genesis: The network is a key outcome of the 2022 UN Global Congress on Victims of Terrorism.
• Goal: To provide a safe space for victims and survivors to support each other, build resilience and engage as advocates, educators, and peacebuilders.
• Financial Support: Received from Spain

India has successfully test-fired an indigenously developed anti-drone system, Bhargavastra.

About Bhargavastra

• It is a low-cost, 'hard kill' anti-drone system designed to neutralize threats from drone swarms. 
• Developed By: Solar Defence and Aerospace Limited (SDAL), 
• Key Features
  • Two-layer security system:
    • Layer 1: Unguided micro-rockets with a 20m lethal radius for swarm drones
    • Layer 2: Guided micro-missiles for precision strikes
  • Range: Detects drones from up to 2.5 km. Radar detects aerial threats from 6–10 km
  • Terrain adaptability: Above 5000 meters
  • Modular design: Allows integration of soft kill options like jamming and spoofing.
  • C4I-enabled command centre: Enhances network-centric warfare integration.

The Indian Navy and DRDO (Defence Research and Development Organisation) successfully tested the indigenously developed MIGM.

About MIGM

• Advanced underwater naval mine designed to enhance the Indian Navy’s capabilities against modern stealth ships and submarines.
• Designed and Developed by: Naval Science and Technological Laboratory (NSTL) under DRDO. 
• Features:
  • It uses multiple sensors to detect acoustic, magnetic, and pressure signals from marine vessels.
  • It has built-in electronics with processors to process data and trigger appropriate actions.
  • It is deployable from ships, submarines etc.

The US has recently approved sale of HawkEye 360 technology to India to boost the country’s surveillance capabilities.

About HawkEye 360 technology

• It uses clusters of three satellites in Low Earth Orbit to detect, geolocate, and analyze radio frequency (RF) signals. 

Significance for India

• It can detect vessels that turn off their Automatic Identification System (AIS) to avoid tracking in disputed or sensitive areas.
• It will boost India’s maritime domain awareness in the Indo-Pacific.
  • Indian forces can now more effectively monitor illegal fishing, smuggling, and conduct surveillance.

Indian Army received new Russian Igla-S missiles to counter drones, choppers, jets.

About Igla-S 

• It is a man-portable, shoulder-launched surface-to-air missile (SAM) system designed for mobile ground units operating in high-threat environments
  • It is an improved version of Very Short Range Air Defence Systems (VSHORADS). 
• Key Features: 
  • It uses infrared (IR) homing to detect and lock onto the heat signatures of aerial targets.
  • Once the missile is launched, it automatically follows the heat coming from the target's engine. 

• This makes it very good at hitting fast and small targets like drones and helicopters.

• Range: It can engage targets at ranges up to 6 km and altitudes up to 3.5 km.

CBI launched Operation Hawk to crack down on global cybercrime networks involved in online child sexual exploitation.

• The operation follows Operation CARBON (2021) and Operation Megh Chakra (2022) to track suspects and dismantle such networks with international links.