At the Indian Mobile Congress in New Delhi, Prime Minister Narendra Modi emphasized the urgent need for a global mechanism to proactively prevent cyber fraud. He called on governments, telecom operators, and financial institutions worldwide to collaborate more effectively against the increasingly sophisticated networks of cybercriminals. Modi’s comments underlined the transnational nature of cybercrime, where perpetrators in one nation can easily target victims in another, exploiting networks that cross multiple jurisdictions.
The Prime Minister’s appeal for enhanced cooperation follows a recent declaration by BRICS member nations, which highlighted concerns over organized scam networks and financial fraud spanning borders. This declaration called for stronger collaboration among law enforcement agencies, financial intelligence units, customs authorities, and technology platforms to detect suspicious activities and combat money laundering more effectively.
Particular attention was drawn to scam operations linked to countries such as Cambodia, Myanmar, and Laos, where online fraud schemes, including impersonation scams, fake investment platforms, and loan-related extortion, have been prevalent. Some of these operations have also been associated with human trafficking, with individuals reportedly being deceived by false job offers and coerced into illegal activities abroad.
India faces significant financial challenges due to cybercrime, with government data revealing that reported losses surged from ₹7,465 crore in 2023 to ₹22,845 crore in 2024. This sharp increase underscores the pressing need for improved prevention measures, greater public awareness, and swifter coordination among authorities.
During his address, Modi also spoke about India’s strides in digital transformation, noting the expansion of mobile connectivity, digital banking, and direct benefit transfers. He highlighted how these advancements have enhanced access to government services, education, healthcare, and financial aid. Notably, direct benefit transfers have reportedly delivered around ₹50 lakh crore to beneficiaries, preventing approximately ₹5 lakh crore in potential losses due to leakages. The PM-Kisan scheme alone has facilitated the transfer of more than ₹4 lakh crore to farmers.
Modi further emphasized the importance of India transitioning from merely consuming digital technology to developing its own products, research capabilities, and intellectual property. He discussed the country’s progress in semiconductor manufacturing and advocated for the next phase of the telecom sector to focus on encouraging investment, innovation, exports, and domestic technology development.
Concluding his remarks, Modi expressed the hope that the Indian Mobile Congress would serve as a vital platform for promoting research, manufacturing, and technological innovation while ensuring stronger digital security and fostering international cooperation.