Daily Answer Writing
20 September 2021

Q) In recent times, India has become a hub of global cyber-financial frauds. Suggest measures to address this surge. (150 Words)

  • Source: The Indian express - Page 6/The City(Delhi Edition) - When trouble calls
  • GS 3: Cyber Security

 

Approach Answer:


Introduction: Cyber financial Fraud is defined as a set of online crimes committed for the purpose of money, property or inheritance. In the recent times there have been reports about astonishing number of cyber financial frauds originating from India. This affects not only Indians but also citizens of the world.

 

Ways to secure Indian Cyber space against financial frauds:

    • Removing vulnerabilities: However, There is a trade-off between convenience and security. All vulnerabilities thus can't be removed. Nonetheless, most must be removed.
    • Educating People: Cyber security is managed & administered through a mechanism called people, process & technology. Biggest vulnerability is on the consumer's end. People & process make 80% of the system. For example, Govt. promise to launch Digishala channel for digital literacy.
    • Securing Payment systems:
      • Protection of device from unauthorized access: Payment systems must be continually audited for security vulnerabilities & patched frequently.
      • Better processes and system: Systems must be hosted with active measures to mitigate denial of service attacks, while maintaining  flexibility to handle seasonal upsurges in traffic. For example, usage of two stage or three stage authentication.
    • Government's role:
      • Invest in cyber security: sufficiently to secure the networks.
      • Digital literacy: Educate population(esp. in schools) on how to avoid becoming victim of a fraud.
      • Revisit the laws: establish a special mechanism to ensure that entities stealing data or preventing legitimate digital transactions  are dealt with severely & swiftly in a manner apparent to the public.
      • Agreements with other countries to speed up investigations and trials etc.
    • Cyber Police & cyber patrolling:
      • Intelligence infrastructure required: The government must establish a network of Spies within fraudsters.
      • Cyber Police: Many states already have Cyber police, for example Maharashtra declared cyber police station in 32 Distts.  But none equipped with the resources required to tackle the situation.
      • Special teams in focus areas: Delhi NCR which includes Noida, Gurugram, Gaziabad as major IT hubs are emerging hubs of these cyber crimes. Special focus must be maintained on these areas.
      • National- level intelligence sharing: The fraudsters have no borders but the State Police has. It is necessary that different states cooperate on this matter.
    • Training a network of Ethical Hackers: Who can penetrate the systems of the fraudsters to collect the information about such gangs. The Government has launched the Information Security Education and Awareness(ISEA) in this regard which can be expanded to create an army of such technocrats.

 

Conclusion: There is a lack of adequate laws, procedures to handle the crimes and training which has led to a sense of impunity in this regard. The government needs to pass the  Personal Data protection bill which has been pending for about three years in the Parliament. This would ensure accountability of the government agencies which can create a mechanism to deal with this threat.

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