Prime Minister Narendra Modi has emphasized the need for a global framework to prevent cyber fraud, urging international cooperation among governments, telecom operators, and financial institutions. Speaking at the Indian Mobile Congress in New Delhi, Modi highlighted the cross-border nature of cybercrime, which allows perpetrators in one country to exploit victims in another via intricate networks.
Modi’s call for action aligns with a recent BRICS declaration that voiced concerns over organized scam networks and financial fraud across borders. The declaration advocated for enhanced collaboration among law enforcement, financial intelligence units, customs authorities, and technology platforms to detect suspicious activities and deter money laundering.
Incidents of online fraud have been linked to scam operations in Cambodia, Myanmar, and Laos, involving impersonation, fake investment platforms, and extortion related to loans. Some of these operations have also been associated with human trafficking, as individuals are reportedly lured by false job offers and coerced into illegal activities.
In India, cybercrime has become a pressing financial issue, with government data showing a rise in reported losses from ₹7,465 crore in 2023 to ₹22,845 crore in 2024. This trend underscores the urgent need for better preventive measures, increased public awareness, and faster coordination among authorities.
During his address, Modi also celebrated India’s digital transformation, citing advances in mobile connectivity, digital banking, and direct benefit transfers, which have streamlined access to government services and financial aid. He pointed out that direct benefit transfers have facilitated around ₹50 lakh crore to beneficiaries, while preventing approximately ₹5 lakh crore in potential leakages.
Furthermore, Modi urged India to transition from merely consuming digital technology to developing its own innovations, products, and intellectual property. He mentioned the country’s strides in semiconductor manufacturing and called for the telecom sector’s next phase to focus on investment, innovation, exports, and domestic technology development.
Modi concluded by envisioning the Indian Mobile Congress as a platform for advancing research, manufacturing, and technological innovation, alongside enhancing digital security and fostering international cooperation.