During the Indian Mobile Congress in New Delhi, Prime Minister Narendra Modi emphasized the urgent need for a global mechanism to combat cyber fraud, highlighting the cross-border nature of cybercrime and its impact on international victims. Modi urged governments, telecom operators, and financial institutions to collaborate on creating a coordinated system to detect and prevent fraudulent activities early on. This call to action comes on the heels of a BRICS declaration emphasizing enhanced cooperation among various agencies to tackle organized scam networks and prevent cross-border financial fraud.
Highlighting the complexity and reach of cybercrime networks, Modi pointed out that operations in regions such as Cambodia, Myanmar, and Laos have been linked to online scams, impersonation, fake investment platforms, and loan-related extortion. These criminal activities often involve human trafficking, where individuals are deceived by false job offers and coerced into participating in illegal operations.
The financial impact of cybercrime in India is significant, with reported losses increasing dramatically from ₹7,465 crore in 2023 to ₹22,845 crore in 2024. Modi stressed the importance of stronger preventive measures, public awareness, and improved coordination among authorities to address this growing threat.
In addition to discussing cybercrime, Modi also spoke about India’s digital transformation, including advancements in mobile connectivity, digital banking, and direct benefit transfers. He noted that these initiatives have facilitated better access to government services, education, healthcare, and financial assistance. The Prime Minister highlighted that direct benefit transfers have delivered around ₹50 lakh crore to recipients via digitally linked bank accounts, preventing an estimated ₹5 lakh crore in potential leakages.
Modi also called for India to shift from being a consumer of digital technology to a creator, emphasizing the development of domestic products, research capabilities, and intellectual property. He pointed to progress in semiconductor manufacturing and encouraged investment, innovation, and exports in the telecom sector. Modi suggested that the Indian Mobile Congress should serve as a platform to advance research, manufacturing, and technological innovation while bolstering digital security and international cooperation.