Prime Minister Narendra Modi has urged for the establishment of a global mechanism to combat cyber fraud proactively, emphasizing the need for international cooperation among governments, telecom operators, and financial institutions. Speaking at the Indian Mobile Congress in New Delhi, Modi highlighted the transnational nature of cybercrime, which allows perpetrators to exploit networks across borders to target victims in different countries.
The Prime Minister called on the GSMA and telecom companies to devise a coordinated system that can preemptively identify and halt fraudulent activities. This call to action aligns with a recent declaration by BRICS countries, which expressed concern over organized scam networks and cross-border financial fraud. The declaration advocates for enhanced collaboration among law enforcement, financial intelligence units, customs authorities, and technology platforms to detect suspicious transactions and curb money laundering.
Recent reports have linked scam operations in regions like Cambodia, Myanmar, and Laos to various online frauds, such as impersonation scams, fake investment platforms, and extortion related to loans. Some operations have also been associated with human trafficking, where individuals are deceived by bogus job offers and coerced into criminal activities.
India has seen a significant rise in financial losses due to cybercrime, with government data indicating that reported losses increased from ₹7,465 crore in 2023 to ₹22,845 crore in 2024. Modi emphasized the importance of stronger preventive measures, increased public awareness, and improved coordination among authorities to address this growing concern.
During his address, Modi also spotlighted India’s digital transformation achievements, including advancements in mobile connectivity, digital banking, and direct benefit transfers. He noted that these initiatives have enhanced access to government services, education, healthcare, and financial aid. The direct benefit transfers have reportedly delivered approximately ₹50 lakh crore to beneficiaries, preventing about ₹5 lakh crore in potential leakages. The PM-Kisan scheme alone has transferred over ₹4 lakh crore to farmers.
Furthermore, Modi urged India to transition from being a consumer of digital technology to becoming a developer of its own products, research capabilities, and intellectual property. He highlighted progress in semiconductor manufacturing and advocated for the next phase of the telecom sector to focus on investment, innovation, exports, and domestic technology development. Modi envisioned the Indian Mobile Congress as a platform to advance research, manufacturing, technological innovation, and digital security through strengthened international cooperation.