Prime Minister Narendra Modi, in his radio address to the nation this Sunday, talked about the increasing risk of cyber fraud. This follows multiple occasions in which scammers targeted individuals and threatened them with "digital arrest," pretending that they were from various authorities, such as the police, the securities market regulator, or the narcotics squad.
The targeted individuals are then induced to clear out their bank accounts and in some cases transfer them into cryptocurrency wallets. Even those who are relatively digitally literate have been victimized by these fraudsters. It is welcome, therefore, that the Prime Minister chose to raise awareness about these methods. But more needs to be done to deal with these threats.
This story is from the October 30, 2024 edition of Business Standard.
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This story is from the October 30, 2024 edition of Business Standard.
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