According to a report, 85 percent of complaints are related to financial crimes. The Ministry of Home Affairs has taken three special initiatives to stop cybercrime. Under this, the use of Artificial Intelligence is being used to identify the methods of crime and a database of suspected criminals is being prepared. Coordination is being increased between different states, and ways are being explored to stop such crimes at the international level.
New Initiative to Stop Hi-Tech Crime
1) CFMC: AI Identifies Methods of Crime
Banks, financial institutions, telecom companies, internet service providers, police, and state agencies have been brought together on one platform to establish the Cyber Fraud Monitoring Centre (CFMC). This center is being prepared as a major platform to stop cybercrime. It will identify the methods of cybercriminals using AI and stop them.2) Suspect Registry: Database of 14 Lakh Suspects
Earlier, the data of suspected criminals was scattered across different states, making it difficult to take action. But now, a ‘Suspect Registry’ has been created at the national level, which will be linked with the states to fight cybercrime. The registry currently has data of 14 lakh suspected criminals, including their mobile numbers, bank accounts, social media accounts, and UPI. This data has been prepared based on cyber fraud complaints.3) Coordination Platform: One-Stop Portal for Police
This platform will launch a campaign against cybercriminals. It will work as a one-stop portal for criminal mapping, data analysis, and coordination between security agencies nationwide.Online Transactions Increasing, So Are Crimes
With increased internet facilities and online payments, online financial fraud cases are also rising. The number of internet users in the country was 25 crore in 2014, which has increased to 95 crore in 2024. There are 35 crore Jan Dhan accounts and 36 crore RuPay debit cards, with digital transactions worth Rs 20 lakh 64 thousand crore in 2024. India accounts for 46 percent of global digital transactions. Therefore, the need for security against cyber fraud has increased manifold.Thousands of Crores of Fraud in One Year
- In 2023, fraud of Rs 7,488.6 crore was reported across the country
- 320,000 SIM cards and 49,000 IMEI numbers were blocked
- An average of 7,000 cybercrime complaints are being registered daily
- 85 percent of complaints are related to financial online fraud
Year- Number of cases registered
2019 – 26,049
2020 – 257,777
2021 – 452,414
2022 – 966,799
2023 – 1,556,218
2024 – 740,957 (till April)
Methods of cyber fraud: financial fraud, sextortion, investment fraud, digital arrest, gaming app fraud, OTP fraud, and loan app fraud.
