At the Indian Mobile Congress in New Delhi, Prime Minister Narendra Modi urged the formation of a global mechanism to prevent cyber fraud, highlighting the need for enhanced international cooperation among governments, telecom networks, and financial institutions. Emphasizing the cross-border nature of cybercrime, Modi called on the GSMA and telecom operators to collaborate in creating an early detection system for fraudulent activities.
Modi’s call to action comes after a BRICS declaration that underscored concerns over organized scam networks and cross-border financial fraud. The declaration advocated for stronger collaboration among law enforcement, financial intelligence units, customs authorities, and technology platforms to identify suspicious transactions and combat money laundering effectively.
Recent investigations have linked cybercrime operations in countries like Cambodia, Myanmar, and Laos to a variety of online scams, including impersonation, fake investment platforms, and loan-related extortion. These operations have sometimes involved human trafficking, with victims being deceived by false job offers and coerced into criminal activities.
In India, cybercrime poses a growing financial threat, with government figures showing reported losses escalating from ₹7,465 crore in 2023 to ₹22,845 crore in 2024. This dramatic increase underscores the urgent need for improved prevention strategies, heightened public awareness, and swift inter-agency coordination.
During his address, Modi also celebrated India’s digital advancements, noting the expansion of mobile connectivity, digital banking, and direct benefit transfers. He pointed out that these digital initiatives have significantly improved access to government services, education, healthcare, and financial aid.
The Prime Minister highlighted the success of direct benefit transfers, which have delivered approximately ₹50 lakh crore to beneficiaries while preventing about ₹5 lakh crore in potential losses through system leakages. Modi cited the PM-Kisan scheme, through which over ₹4 lakh crore has been transferred to farmers, as a key achievement.
Modi further urged India to transition from being a digital technology consumer to a leader in developing indigenous products, research capabilities, and intellectual property. He emphasized the country’s progress in semiconductor manufacturing and called for the Indian Mobile Congress to serve as a catalyst for research, manufacturing, technological innovation, and strengthening digital security and international cooperation.
