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AMD to invest $400 million in India by 2028: Here’s what we know

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD’s announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in Prime Minister Narendra Modi’s home state of Gujarat. Other speakers at the flagship event include Foxconn Chairman Young Liu and Micron CEO Sanjay Mehrotra. Despite being a late entrant, the Modi government has been courting investments into India’s nascent chip sector to establish its credentials as a chipmaking hub. AMD said it will open its new design centre campus in Bengaluru by end of this year and create 3,000 new engineering roles within five years. “Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide,” Papermaster said. The new 500,000-square-foot (55,5...
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Fake instant loan apps gang that extorted Rs 500 crore busted in Delhi

An active gang of scammers running a fake operation of lending loans through fake mobile apps and extorting the money back using sensitive personal data was busted by the Delhi Police Cyber Cell. After a two-month-long operation, Delhi Police arrested 22 people from New Delhi and other states associated with the gang, which, the police said, was sending all the money to China using cryptocurrency.

The police said the gang transferred over Rs 500 crore using fake apps. According to the police, at least 100 fake loan apps were active as a part of the operation, duping people between Rs 2,000 crore and Rs 5,000 crore. In other words, there could be more scammers running similar extortion operations. The name of these apps are not available, but they likely have been blocked.

The Delhi Police said several victims filed complaints against the gang in person and through the National Cyber Crime Reporting Portal and other investigating agencies. They mentioned instant loan apps, through which loans were disbursed, were extorting money from involved people by blackmailing them using their doctored nude photos.

The arrested gang, the police said, had plans to shift their base to Pakistan and other neighbouring countries for calling their targets. Since they were running several fake loan apps, they hid their operations using online servers.

According to KPS Malhotra, DCP of Cyber Crime Unit, Delhi Police, the apps would lure users to get instant loans through various schemes. After users have downloaded these apps from unverified sources, they “would seek permission from users to access their data and steal all their contact details, chats, photos etc.” He said the apps would send this data to servers based in Hong Kong. Referred to as recovery agents, these gang members would then morph user photos and use them to extort money.

The post Fake instant loan apps gang that extorted Rs 500 crore busted in Delhi appeared first on BGR India.



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