CYBER FRAUD

  • The Ministry of Home Affairs has operationalised the national Helpline 155260 and Reporting Platform for preventing financial loss due to cyber fraud. The helpline was soft-launched on 1st April.
  • The National Helpline and Reporting Platform provides a mechanism for persons cheated in cyber frauds to report such cases to prevent loss of their hard earned money.
  • Also, a National Cyber Security Strategy 2020 is being formulated by the Office of National Cyber Security Coordinator at the National Security Council Secretariat.

Cyber Security

  • Cyber Security is protecting cyber space including critical information infrastructure from attack, damage, misuse and economic espionage.
  • According to Section 70(1) of the Information Technology Act, CII is defined as a “computer resource, the incapacitation or destruction of which, shall have debilitating impact on national security, economy, public health or safety”.
  • It is the crime committed via a computer with the intent to corrupt another individual’s personal and financial information stored online.
  • It is the most common type of fraud and individuals and organisations need to be vigilant and protect their information from fraudsters.

Important points:

  • The helpline has been made operational by the Indian Cyber Crime Coordination Centre (I4C), in coordination with the Reserve Bank of India, all major banks, payment banks, wallets and online merchants.
  • The Citizen Financial Cyber Fraud Reporting and Management System has been developed by I4C to integrate Law Enforcement Agencies and Banks and Financial Intermediaries.
  • The facility empowers both the banks and the police, by leveraging new-age technologies for sharing online fraud related information and taking action in almost real time.
  • Since its soft launch, in a short span of two months, the helpline has assisted in saving more than Rs 1.85 crore.

SOURCE: THE HINDU,THE ECONOMIC TIMES,MINT

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