At the Indian Mobile Congress (IMC) in New Delhi, Prime Minister Narendra Modi called for an international framework to preempt cyber fraud, emphasizing the necessity for enhanced collaboration among governments, telecom operators, and financial institutions. Modi highlighted the transnational nature of cybercrime, where perpetrators in one country can easily target victims in another through complex networks that traverse multiple jurisdictions.
Modi’s speech aligns with a recent declaration by BRICS member countries, which voiced concerns over organized scam networks and cross-border financial fraud. The declaration urged stronger cooperation among law enforcement agencies, financial intelligence units, customs authorities, and technology platforms to detect suspicious transactions and disrupt money laundering activities.
Particular areas in Southeast Asia, including Cambodia, Myanmar, and Laos, have been linked to various forms of online fraud, such as impersonation scams, fake investment platforms, and loan-related extortion. Some scam operations have reportedly involved human trafficking, with individuals being deceived by false job offers and subsequently coerced into criminal activities.
Cybercrime is a growing financial issue in India, with government figures presented in Parliament showing reported losses escalating from ₹7,465 crore in 2023 to ₹22,845 crore in 2024. This underscores the urgent need for stronger preventative measures, increased public awareness, and swifter coordination among authorities.
During his address, Modi also showcased India’s digital transformation, pointing out advancements in mobile connectivity, digital banking, and direct benefit transfers, which have enhanced access to government services, education, healthcare, and financial assistance. He stated that direct benefit transfers have routed approximately ₹50 lakh crore to beneficiaries through bank accounts tied to the digital system, and claimed this system has prevented around ₹5 lakh crore from being lost due to leakages.
Furthermore, Modi urged India to transition from merely consuming digital technology to developing its own products, research capabilities, and intellectual property. He noted the country’s progress in semiconductor manufacturing and suggested that the next phase of the telecom sector should focus on fostering investment, innovation, exports, and domestic technology development.
He concluded by positioning the Indian Mobile Congress as a crucial platform for advancing research, manufacturing, and technological innovation, while also strengthening digital security and international cooperation.