Government forms Committee to Combat Transnational Cybercrimes

On 16th May, 2024, the Union government constituted an inter-ministerial committee to address the surge in transnational cybercrimes targeting Indians from Southeast Asian countries.

Rationale

  • Organized cybercrimes from Southeast Asian countries, particularly Cambodia, Myanmar, and Laos PDR, have increased in terms of volume, victims, and monetary losses.
  • About 45 per cent of cyber financial frauds taking place in the country are originating from this region.

Key Highlights

  • Committee Composition: Headed by the special secretary (internal security) in the MHA, it includes representatives from RBI, Department of Financial Services, banks, Financial Intelligence Unit, DoT, and financial technology companies.
  • Committee's Focus: The high-level committee ....
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