Prime Minister Narendra Modi has emphasized the urgent need for a global framework to combat cyber fraud, highlighting the threat such crimes pose across international borders. Addressing the Indian Mobile Congress in New Delhi, Modi urged governments, telecom operators, and financial institutions to enhance international collaboration to tackle these increasingly sophisticated cybercrime networks.
Modi’s call for action aligns with a recent declaration by BRICS countries, which expressed concern over organized scam networks and cross-border financial fraud. The declaration underscored the importance of stronger cooperation among law enforcement, financial intelligence units, customs authorities, and technology platforms to identify and disrupt suspicious activities and money laundering.
The Prime Minister pointed out that cybercrime has transcended national boundaries, with criminals operating from one country targeting victims in another. He encouraged the GSMA and telecom companies to create a coordinated system to preemptively identify and thwart fraudulent activities.
India has experienced significant financial impact due to cybercrime, with government figures showing reported losses increasing from ₹7,465 crore in 2023 to ₹22,845 crore in 2024. This underscores the necessity for more robust prevention measures, public awareness campaigns, and faster coordination among authorities.
In his speech, Modi also highlighted India’s digital transformation, citing the expansion of 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, with direct benefit transfers delivering approximately ₹50 lakh crore to beneficiaries. Modi claimed that this system prevented around ₹5 lakh crore from being lost through leakages.
The Prime Minister advocated for India to progress beyond merely consuming digital technology and focus on developing its own products, research capabilities, and intellectual property. He emphasized the country’s advancements in semiconductor manufacturing and called for the next phase of the telecom sector to prioritize investment, innovation, exports, and domestic technology development.
Modi concluded by stating that the Indian Mobile Congress should serve as a platform for advancing research, manufacturing, and technological innovation while reinforcing digital security and international cooperation.