Indians lose ₹1.5 lakh to cyber criminals every minute: official


National Security Council Joint Secretary G. Narendra Nath, Telangana IT and Electronics Deputy Secretary Bhavesh Mishra, Cyberabad Commissioner of Police Avinash Mohanty along with others at the ISACA Annual Cyber Security Conference in Madhapur on Saturday.
| Photo Credit: Lavpreet Kaur

Citizens are losing anywhere between ₹1.3 – ₹1.5 lakh to cyber criminals every minute in India. This comes at a time when the recovery rate average for the country has been pegged lower than 20%.

These estimates were shared by Bhavesh Mishra, Deputy Secretary, Telangana IT and Electronics Department speaking at the ISACA Annual Cyber Security Conference in Madhapur, Hyderabad, on Saturday.

Underscoring that the Third World War could be a ‘mathematician war’, Mr. Mishra called companies dealing with Artificial Intelligence and Cyber Security (the codebreakers) to set up shop in the 200-acre AI City unveiled by Chief Minister A. Revanth Reddy earlier in September to tackle the growing menace of cybercrimes.

Meanwhile, Cyberabad Commissioner of Police Avinash Mohanty said cybercrime today is over 30% of the cognisable crimes in the commissionerate. This may soon rise to 50% in the time to come, he added.

Talking about the role of police (and regulatory authorities) in curbing cybercrime in the State, the official stressed on focus on prevention. “We need to move away from just doing ‘postmortem’ (after the fraud is done) to actually addressing the situation before it’s all lost,” he said.

Underlining the dynamic nature of cybercrimes, Mr. Mohanty highlighted an urgent need to speed up the regulatory framework with coordination between government and industries.

The official also called out banks to strengthen their Know Your Customer (KYC) procedures, improve oversight and audit and ensure compliance to regulation. “Several investigations have revealed that multiple companies associated with the same address and with common directors are involved in cybercrime. It is as if ready-made companies are prepared in India and handed over to individuals who want to create frauds,” the official said.

The conference saw industry leaders, including bureaucrats, bankers, consultants and technology experts, share insights on the future of cybersecurity in the era of AI and strategies for managing and protecting data privacy.

Stressing that security should be added as a ‘functional requirement’, G. Narendra Nath, Joint Secretary, National Security Council, Government of India, said that citizens (end-users) should be involved in co-creation of services as a pilot step before the launch.

He highlighted the steps being taken up by the government to identify genuine numbers, URLs and applications from the malicious ones used by cyber criminals to reach out to their targets.

How to avoid phishing attacks in the name of banks?

Citing examples, he said that all banks have been asked to have ‘160’ in the beginning of their customer care numbers to identify as genuine. The three-digit number will be a part of the 10-digit mobile number and any call without the number should not be picked up by the citizens.

“We are in the process of identifying and assigning individual numbers to banks that will follow 160. Once that’s done, the service will be enabled,” Mr. Nath said.

Similarly to avoid URL phishing frauds, all banks in India will have .bnk.in in their URL and financial institutions will have .fin.in. Hyderabad-based Institute of Development Research in Banking Technology (IDRBT) has been selected as the exclusive registrar for the domain, the official revealed.

Meanwhile, starting October 1, all telecom operators will ‘white-list’ links sent via messages (including SMS) to citizens. According to Mr. Nath, links which are not white-listed will be disposed at the operator level and will not reach customers. Such links are generally sent through bulk messages and if clicked can land citizens in cyber frauds, he explained.

The official stressed on capacity building to deploy cybersecurity experts in every corporation in the country. He advocated to push women’s representation in the space by creating enabling workspaces.



Source link

Share

Latest Updates

Frequently Asked Questions

Related Articles

Prowatch X With 1.43-Inch AMOLED Screen, IP68 Rating Launched in India

Prowatch X by Lava was launched in India on Saturday, and the company's latest...

IndiaAI Mission: India’s AI race heats up as entrepreneurs, researchers, and startups vie for IndiaAI Mission funding

Stanford graduate Ayush Gupta who quit his job at Apple to start his...

Eutelsat adapts GEO strategy as Starlink reshapes satellite connectivity

TAMPA, Fla. — Eutelsat is taking another step away from consumer broadband as...

Jeep Drivers Bombarded With Ads for Extended Warranty on Their Center Console Displays

The smartphone-ification of cars continues to unleash new horrors of tech-inflected capitalism.Just ask...
SULTAN88
SULTANSLOT
RAJA328
JOIN88
GFC88
HOKIBET
RUSIASLOT88
TAHU69
BONANZA99
PRAGMABET
MEGA55
LUXURY777
LUXURY333
BORJU89
QQGAMING
KEDAI168
MEGA777
NAGASLOT777
TAKSU787
KKSLOT777
MAS77TOTO
bandar55
BOS303
HOKI99
NUSA365
YUHUSLOT
KTP168
GALAXY138
NEXIA138
PETIR33
BOOM138
MEGA888
CABE888
FOSIL777
turbospin138
KAPAKBET
SUPERJP
sultankoin99
dragon88
raffi888
kenzobet
aladin666
rgo365
ubm4d
GERCEP88
VIVA99
CR777
VOXY88
delman567
intan69
CABE888
RNR303
LOGO303
PEMBURUGACOR
mpo383
cermin4d
bm88
ANGKA79
WOWHOKI
ROKET303
MPOXL
GURITA168
SUPRASLOT
SGCWIN
DESA88
ARWANA388
DAUNEMAS
ALADDIN666
BIOWIN69
SKY77
DOTA88
NAGA138
API5000
y200m
PLAYBOOK88
LUXURY12
A200M
MPO700
KENANGAN4D
cakrabola
PANDAGENDUT
MARVEL77
UG300
HOKI178
MONTE77
JASABOLA
UNTAR4D
LIDO88
MAFIABOLA77
GASPOL189
mpo999
untung138
TW88
JAGUAR33
MPOBOS
SHIO88
VIVO4D
MPOXL
JARISAKTI
BBO303
AONCASH
ANGKER4D
LEVIS4D
JAGO88
REPUBLIK365
BOSDEAL88
BOLA168
akunjp
WARTEGBET
EZEBET
88PULSA
KITAB4D
BOSDEAL88
STUDIOBET
MESINKOIN
BIMA88
PPNUSA
ABGBET88
TOP77
BAYAR77
YES77
BBTN4D
BBCA4D
VSLOTS88
MPO800
PAHALA4D
KPI4D
JURAGAN77
QQ188
BOLAPELANGI
C200M
QQ998
GWKTOGEL
MEGABANDAR
COLOWIN
VIP579
SEVEN4D
MPO188
DEWATA88
SURAT4D
SINAR123
LAMBO77
GUDANG4D
AWAN4D
PLANETLIGA
GT88
ROYALSPIN88
MAMAJITU
MITO99
PEDIA4D
WIBU69JP
333HOKI
SIDARMA88
NAGAEMAS99
HOLA88
CAKAR76
KINGTOTO
RATUGAMING
SSI168
PILAR168
ACTOTO
EYANGTOGEL
KAISAR328
SLOT628
KAISAR88
DOTA88
MAXWIN369
ALIBABA99
MM168
SQUAD777
NAGABET88
JAYABOLA
SEMPATIGAME
PANDAJAGO
PIKAT4D
SINGA77
YUYU33
MASTERPLAY99
VICTORY39
NASA4D
PERMATA55
SAKAUSLOT
CK303
MPOTOWER
CIPUTRABET
WINJUDI
DEWI5000
IYA777
MAHIRTOTO
GOSLOT88
TIPTOP4D
RAJA787
JBO680
JOKER188
EPICPLAY88
TRIVABET
KAISAR189
JOKER81
JPSPIN88
MAYORA4D
DJARUMPLAY
OVO88
BAKTI78
WINGSLOT77
ICAFE4D
PDTOTO
JETPLAY88
PORN VIDEO
https://link.space/@Hikaribet
https://bio.site/Hikaribet
https://heylink.me/Hikaribet39
CMBET88
CMBET88
didascaliasdelteatrocaminito.com
glenellynrent.com
gypsumboardequipment.com
realseller.org
https://harrysphone.com/upin
gyergyoalfalu.ro/tokek
vipokno.by/gokil
winjospg.com
winjos801.com/
www.logansquarerent.com
internationalfintech.com/bamsz
condowizard.ca
jawatoto889.com
hikaribet3.live
hikaribet1.com
heylink.me/hikaribet
www.nomadsumc.org
condowizard.ca/aromatoto
euro2024gol.com
www.imaracorp.com
daftarsekaibos.com
stuffyoucanuse.org/juragan
Toto Macau 4d
Aromatoto
Lippototo
Mbahtoto
Winjos
152.42.229.23
bandarlotre126.com
heylink.me/sekaipro
www.get-coachoutletsonline.com
wholesalejerseyslord.com
Lippototo
Zientoto
Lippototo
Situs Togel Resmi
Fajartoto
Situs Togel
Toto Macau
Winjos
Winlotre
Aromatoto
design-develop-test.com
winlotre.online
winlotre.xyz
winlotre.us
winlotrebandung.com
winlotrepalu.com
winlotresurabaya.shop
winlotrejakarta.com
winlotresemarang.shop
winlotrebali.shop
winlotreaceh.shop
winlotremakmur.com
Dadu Online
Taruhantoto
a Bandarlotre
bursaliga
lakitoto
aromatoto
Rebahin
untungslot.pages.dev
slotpoupler.pages.dev
rtpliveslot88a.pages.dev
tipsgameslot.pages.dev
pilihslot88.pages.dev
fortuertiger.pages.dev
linkp4d.pages.dev
linkslot88a.pages.dev
slotpgs8.pages.dev
markasjudi.pages.dev
saldo69.pages.dev
slotbenua.pages.dev
saingtoto.pages.dev
markastoto77.pages.dev
jowototo88.pages.dev
sungli78.pages.dev
volatilitas78.pages.dev
bonusbuy12.pages.dev
slotoffiline.pages.dev
dihindari77.pages.dev
rtpdislot1.pages.dev
agtslot77.pages.dev
congtoto15.pages.dev
hongkongtoto7.pages.dev
sinarmas177.pages.dev
hours771.pages.dev
sarana771.pages.dev
kananslot7.pages.dev
balitoto17.pages.dev
jowototo17.pages.dev
aromatotoding.com
unyagh.org
fairparkcounseling.com/gap/
impress-newtex.com/ajax/
SULTAN88
SULTANSLOT
RAJA328
JOIN88+
HOKIBET
GFC88
RusiaSlot88
Tahu69
BONANZA99
Pragmabet
mega55
luxury777
luxury333
borju89
qqgaming
KEDAI168
mega777
nagaslot777
TAKSU787
kkslot777
MAS77TOTO
BANDAR55+
BOS303
Login-HOKI99/
NUSA365
YUHUSLOT
ktp168
GALAXY138