Prime Minister Narendra Modi has urged for the creation of a global framework to combat cyber fraud, 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, where perpetrators in one country can easily target victims in another through complex networks. He called on the GSMA and telecom companies to devise a coordinated system to identify and prevent fraudulent activities at an early stage.
This call to action by Modi comes in the wake of a declaration by BRICS member countries, which expressed serious concerns over organized scam networks and cross-border financial fraud. The declaration stressed the importance of enhanced collaboration among law enforcement agencies, financial intelligence units, customs authorities, and technology platforms to detect suspicious transactions and curb money laundering.
Several scam operations in regions such as Cambodia, Myanmar, and Laos have been linked to various forms of online fraud, including impersonation scams, fake investment platforms, and loan-related extortion. There have also been reports of human trafficking linked to these scams, with individuals being deceived by false job offers and coerced into participating in criminal activities.
Cybercrime is becoming a significant financial issue in India, with government figures presented in Parliament indicating a rise in reported losses from ₹7,465 crore in 2023 to ₹22,845 crore in 2024. This increase underscores the urgent need for stronger preventive measures, heightened public awareness, and swifter coordination among authorities.
In his address, Modi also showcased India’s digital transformation, highlighting advancements in mobile connectivity, digital banking, and direct benefit transfers. He noted that the digital ecosystem has improved access to government services, education, healthcare, and financial assistance. The Prime Minister revealed that direct benefit transfers have resulted in approximately ₹50 lakh crore being delivered to beneficiaries through bank accounts linked to the digital system, with around ₹5 lakh crore saved from leakages.
Modi further urged India to move beyond merely consuming digital technology and to focus on developing its own technological products, research capabilities, and intellectual property. He pointed out the country’s progress in semiconductor manufacturing and expressed that the next phase of the telecom sector should promote investment, innovation, exports, and domestic technology development. He envisions the Indian Mobile Congress as a platform for advancing research, manufacturing, and technological innovation while enhancing digital security and international cooperation.