FM Nirmala Sitharaman stresses on building awareness among people to curb cyber fraud
1 year, 1 month ago

FM Nirmala Sitharaman stresses on building awareness among people to curb cyber fraud

India TV News  

New Delhi: Finance Minister Nirmala Sitharaman on Thursday said there was a need to build awareness among people on cyber frauds and take the reins of technology in our hands to stop scamsters from gaming the system. Speaking at the 'DATE with Tech' event, the minister said to stop cyber frauds, where people are duped by way of a phone call or SMS, the government periodically reviews public sector banks, and regulator RBI reviews its own systems. She said at the micro level there is concern about people getting random calls putting them in a situation where they are getting trapped and as a result ending up losing money. The minister said large institutions, systemically sensitive institutions should have enough technology and teams adequately trained to firewall on an everyday basis, and keep checking whether the firewall is up to the job or not.

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History of this topic

Cyber cheats dupe citizens of ₹1.58 crore
2 weeks, 5 days ago

Cyber cheats dupe citizens of ₹1.58 crore

Hindustan Times  

The Pune Police have lodged nine cyber fraud cases where cybercriminals siphoned off funds worth ₹58 lakhs from different bank accounts of the victims. All nine cases were lodged on Thursday, December 19 while as many as ten cyber fraud-related cases were lodged on Wednesday, wherein an aggregate amount of ₹1 crore was siphoned off by the accused. The city …

Cyber Crimes Erode People's Trust In Online Transactions, Against Aspirations Of Advanced 'Digital Bharat': Delhi High Court
1 year, 1 month ago

Cyber Crimes Erode People's Trust In Online Transactions, Against Aspirations Of Advanced 'Digital Bharat': Delhi High Court

Live Law  

The Delhi High Court has observed that crime-enables crimes erode trust of the people in online financial transactions platforms which is against the aspirations of an advanced “Digital Bharat.”“These online frauds contribute to eroding the trust of people in the online financial transactions and thus, discourage the newcomers into entering the digital realm, which negatively impacts. The Delhi High Court …

Cyber fraud's new 'Jamtara': From financial frauds to phishing attacks and social media scams
3 years, 11 months ago

Cyber fraud's new 'Jamtara': From financial frauds to phishing attacks and social media scams

India Today  

From Aam Aadmi to Aam Aadmi Party supremo’s daughter, cybercriminals in the country are sparing no one. Their modus operandi now expands to exploiting multiple verticals including banking, social media profiles and now online marketplaces,” said Triveni Singh, Superintendent of Police, Cyber Crime, UP. “During the investigation in several cases, we found that cybercriminals in Mewat are sitting targeting innocent …

Quick reporting of online fraud ensures recovery of funds: police
4 years, 3 months ago

Quick reporting of online fraud ensures recovery of funds: police

The Hindu  

Cyber crime cells are helping victims in a big way in recovering stolen money, especially since most crimes are being reported within 24 hours of their occurrence. The cyber crime cell of the Washermanpet police traced the transaction to Melbourne and contacted the bank, who used the chargeback option to credit the amount back in Mr. Selvaraj’s account within a …

'Exponential' Spike in Financial Frauds Due to Dependence on Digital Payment Platforms amid Pandemic: NSA
4 years, 3 months ago

'Exponential' Spike in Financial Frauds Due to Dependence on Digital Payment Platforms amid Pandemic: NSA

News 18  

Asking citizens to be cautious while being online, National Security Adviser Ajit Doval said on Friday financial frauds have seen an exponential increase due to greater dependence on digital payment platforms following the COVID-19 pandemic. “There is a greater dependence on digital payment platform due to reduced cash handling and greater data sharing is happening online and presence on social …

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