Cybercrime has emerged as a significant challenge in India, with an alarming increase in online threats targeting individuals and organizations alike. Major tech giants like Google, Apple, and Paytm have found themselves in the crosshairs of cybercriminals, facing various security breaches and data compromises.
India, with its massive digital footprint and increasing internet penetration, has become an attractive target for cybercriminals. The advent of advanced technologies and the widespread use of smartphones have opened up new avenues for criminals to exploit vulnerabilities. From phishing attacks and identity theft to ransomware and financial fraud, cybercrimes have witnessed an alarming surge in recent years.
The parliamentary standing committee on finance has called representatives of tech companies and several banks to discuss the increase in cybercrimes in India. According to a report by news agency PTI, representatives of technology companies, including Apple, Flipkart and One97 Communications (Paytm) have been called on July 4 to discuss issues related to cyber security.
As a global technology leader, Google faces the brunt of cybercrimes in India. With its vast user base and multiple services, including search, email, cloud storage, and Android, Google becomes an attractive target for hackers. The company has been actively strengthening its security infrastructure, deploying advanced algorithms and machine learning techniques to detect and prevent cyber threats. Additionally, Google collaborates with law enforcement agencies and cybersecurity firms to identify and mitigate potential risks.
The committee, headed by BJP’s Jayant Sinha, has also called representatives from several banks, such as the Punjab National Bank, Bank of India, Yes Bank and Indian Computer Emergency Response Team (CERT-In) to take oral evidence on “cyber security and rising incidence of cyber/white collar crimes“.
According to the report, the topic of cyber security and the increasing occurrence of cyber crimes took center stage during a panel meeting conducted earlier this month. The meeting had a diverse representation of firms such as Chase India, Razorpay, PhonePe, CRED, and QNu Labs, along with NASSCOM, the prominent trade body and chamber of commerce for the tech industry in the country. The agenda of the meeting also encompassed discussions on the matter of fraudulent lending apps.
Earlier this year, the Ministry of Electronics and Information Technology (MeitY) issued orders to block 232 apps, which included 138 betting and gambling websites and 94 loan apps. However, the battle against cybercrime requires collective efforts, involving individuals, organizations, and the government. By raising awareness, implementing advanced security measures.
