Citizen Financial Cyber Fraud Reporting System Saves Rs 2,400 Crore: Minister Jitin Prasada

New Delhi, July 25, 2024 – The ‘Citizen Financial Cyber Fraud Reporting and Management System’ has helped save at least Rs 2,400 crore from fraudsters, Jitin Prasada, Minister of State for Electronics and Information Technology, told Parliament.

Robust Response to Cyber Fraud: The initiative has effectively handled more than 7.6 lakh complaints, showcasing a robust response mechanism to financial cyber frauds. Amid growing concerns over increasing cyber fraud incidents, KC Venugopal posed several questions to the Ministry of Electronics and Information Technology (MeitY) in Parliament, aiming to uncover the extent of the problem and the effectiveness of current mechanisms.

Government Initiatives: Prasada highlighted the government’s efforts to mitigate fraud risks through several initiatives:

• Citizen Financial Cyber Fraud Reporting System: This system, along with a toll-free helpline number ‘1930’, allows for immediate reporting and assistance in lodging online cyber complaints.
• Indian Cyber Crime Coordination Centre (14C): Established under the Ministry of Home Affairs, it provides a comprehensive framework for law enforcement agencies (LEAs) to address cyber crimes cohesively.
• National Cyber Crime Reporting Portal: This portal enables the public to report all types of cyber crimes, with a special focus on financial fraud. Incidents reported are automatically routed to the respective State/UT LEAs for further action.

Enhancing Awareness and Capacity Building: The government has implemented several measures to raise awareness and build capacity among organizations and users for safe digital practices:

• CERT-In (Indian Computer Emergency Response Team): CERT-In issues alerts and advisories regarding the latest cyber threats and vulnerabilities. It coordinates with service providers, regulators, and LEAs to track and disable phishing websites, facilitate investigations, and ensure the implementation of best security practices.
• Cyber Safety Campaigns: The Ministry of Home Affairs has conducted numerous awareness campaigns through social media platforms, radio, and collaboration with MyGov for widespread publicity. Initiatives include the publication of handbooks for adolescents and students and organizing Cyber Safety and Security Awareness weeks in various states and UTs.
• Cybersecurity Training and Workshops: CERT-In conducts extensive training programs for officials across government and private sectors. In 2024, until June, nine specialized cybersecurity training sessions were conducted, covering 4,166 participants.

The government has established collaborations with law enforcement agencies and private sector entities to combat cyber frauds. CERT-In, in coordination with the Reserve Bank of India (RBI), has launched campaigns to raise awareness about financial fraud. Additionally, cybersecurity mock drills are conducted to assess and improve the cyber readiness of organizations.

Impact and Future Steps: The ‘Citizen Financial Cyber Fraud Reporting and Management System’ has played a pivotal role in preventing financial losses and providing immediate support to victims. The system’s success is further bolstered by continuous efforts to spread awareness, enhance cyber forensic facilities, and improve the overall cybersecurity infrastructure.

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