Prime Minister Narendra Modi has called for the establishment of a global framework to combat cyber fraud, emphasizing the need for international collaboration 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 operate across borders and exploit victims in different countries through elaborate networks.
The Prime Minister’s appeal aligns with a recent declaration by BRICS nations, which underscored the urgency of tackling organized scam networks and cross-border financial fraud. The declaration advocates for enhanced cooperation among law enforcement agencies, financial intelligence units, customs authorities, and technology platforms to identify suspicious activities and prevent money laundering.
Modi’s remarks come in the wake of increasing concerns over scam operations linked to regions like Cambodia, Myanmar, and Laos. These operations have been associated with various online frauds, including impersonation scams and fraudulent investment schemes. Alarmingly, some of these operations have also been tied to human trafficking, with individuals being deceived by false job offers and coerced into criminal enterprises.
In India, cybercrime poses a growing financial threat, with reported losses escalating from ₹7,465 crore in 2023 to ₹22,845 crore in 2024, according to government data presented in Parliament. This surge underscores the necessity of improved preventive measures, heightened public awareness, and quicker inter-agency coordination.
During his address, Modi also praised India’s digital advancements, such as the expansion of mobile connectivity and digital banking services. He noted that direct benefit transfers have efficiently delivered approximately ₹50 lakh crore to beneficiaries and prevented around ₹5 lakh crore in losses due to leakages. He pointed to the PM-Kisan scheme as an example of effective financial support to farmers.
Furthermore, Modi urged India to shift from merely consuming digital technology to developing its own innovations, research capabilities, and intellectual property. He highlighted progress in semiconductor manufacturing and advocated for the next phase of the telecom sector to drive investment, innovation, exports, and domestic technology development. The Indian Mobile Congress, he suggested, should serve as a hub for advancing research, manufacturing, and technological innovation while bolstering digital security and fostering international cooperation.