Prime Minister Narendra Modi has called for the establishment of a global mechanism to combat cyber fraud, emphasizing the need for international collaboration among governments, telecom operators, and financial institutions. Speaking at the Indian Mobile Congress in New Delhi, Modi highlighted the cross-border nature of cybercrime, which allows criminals to target victims across different countries using complex networks.
The Prime Minister urged the GSM Association and telecom companies to create a coordinated system capable of identifying and halting fraudulent activities at an early stage. This appeal follows a recent declaration by BRICS member countries expressing concern over organized scam networks and cross-border financial fraud. The declaration stressed the importance of enhanced cooperation among law enforcement, financial intelligence units, customs authorities, and technology platforms to detect suspicious transactions and disrupt money laundering activities.
Modi’s remarks come against the backdrop of rising cybercrime-related financial losses in India. According to government data presented in Parliament, reported losses surged from ₹7,465 crore in 2023 to ₹22,845 crore in 2024. This trend underlines the urgent need for stronger preventive measures, increased public awareness, and improved coordination among authorities.
During his address, Modi also highlighted India’s digital transformation, noting the significant expansion of mobile connectivity, digital banking, and direct benefit transfers. He stated that direct benefit transfers have delivered approximately ₹50 lakh crore to beneficiaries, with the digital system preventing about ₹5 lakh crore from being lost through leakages. Modi mentioned the PM-Kisan scheme, which has reportedly transferred over ₹4 lakh crore to farmers.
In addition to addressing cybercrime, Modi urged India to progress from being a consumer of digital technology to becoming a developer of its own products, research capabilities, and intellectual property. He pointed to advancements in semiconductor manufacturing and expressed hope that the next phase of the telecom sector would prioritize investment, innovation, exports, and domestic technology development.
Modi concluded by emphasizing the role of the Indian Mobile Congress as a platform for advancing research, manufacturing, and technological innovation while reinforcing digital security and international cooperation.