Prime Minister Narendra Modi has called for the establishment of a global mechanism 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, which allows criminals to exploit networks across multiple jurisdictions to target victims worldwide.
Modi’s appeal for a coordinated response comes on the heels of a BRICS declaration addressing the growing concern over organized scam networks and cross-border financial fraud. The declaration underlined the importance of collaboration among law enforcement agencies, financial intelligence units, customs authorities, and technology platforms to detect suspicious activities and prevent money laundering.
Recent reports have linked scam operations in regions such as Cambodia, Myanmar, and Laos to various forms of online fraud, including impersonation scams, fake investment platforms, and loan-related extortion. Some of these operations have been further connected to human trafficking, involving individuals who were misled by false job offers and coerced into participating in illegal activities.
In India, cybercrime has become a significant financial concern. Parliamentary data reveals that reported losses from cyber fraud increased from ₹7,465 crore in 2023 to ₹22,845 crore in 2024, underscoring the urgent need for enhanced prevention measures, public awareness, and swift coordination among authorities.
During his address, Modi also spotlighted India’s digital transformation efforts, such as the expansion of mobile connectivity and digital banking, which have improved access to government services, education, healthcare, and financial assistance. He noted that direct benefit transfers had delivered approximately ₹50 lakh crore to beneficiaries, preventing around ₹5 lakh crore from being lost through leakages. The PM-Kisan scheme alone transferred over ₹4 lakh crore to farmers.
Modi also emphasized the importance of India moving beyond merely consuming digital technology to developing its own products, research capabilities, and intellectual property. Highlighting advancements in semiconductor manufacturing, he called for the next phase of the telecom sector to focus on investment, innovation, exports, and domestic technology development. He urged the Indian Mobile Congress to serve as a catalyst for research, manufacturing, and technological innovation while reinforcing digital security and international cooperation.