Responding to a surge in online scams and financial frauds in India, the government has blocked 70 lakh mobile numbers associated with these crimes. With a rise in online scams and financial frauds across India, the government has taken action by blocking 70 lakh mobile numbers linked to cybercrime or financial frauds.
This step aligns with other measures aimed at curbing fraud, including blocking the International Mobile Equipment Identity (IMEI) and restricting withdrawals from flagged accounts. The government aims to prevent the misuse of these measures in potential future fraudulent activities.
In a meeting with officials from the Reserve Bank of India (RBI), Telecom Regulatory Authority of India (TRAI), National Payments Corporation of India (NPCI), and the Ministry of Information Technology, Financial Services Secretary Vivek Joshi highlighted the vulnerability of “dormant” and “mule” bank accounts.
These accounts, characterized by low balances and sudden surges in activity, have been identified as potential targets for countermeasures in the ongoing effort to combat the increasing threat of cyber fraud in the financial sector. During the meeting, it was noted that 7 million mobile connections associated with cybercrime or financial fraud have been deactivated based on reports from digital intelligence platforms.
Additional meetings of a similar nature are planned, with the next session scheduled for January. To safeguard mobile numbers and devices from potential fraud, individuals are advised to remain vigilant and adopt proactive measures.
Tips include setting up a PIN or password with the mobile carrier to authenticate any SIM card changes, being cautious about clicking on phishing links and messages, verifying the legitimacy of messages before taking action, avoiding sharing sensitive details through messages or calls, and regularly monitoring financial accounts for suspicious activity.
