Financial Frauds Spiked Due To More Dependence On Digital Payments, Says Ajit Doval
National Security Adviser Ajit Doval in Delhi on Feb. 26, 2020. (Photo: PTI)

Financial Frauds Spiked Due To More Dependence On Digital Payments, Says Ajit Doval

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Asking citizens to be cautious while being online, National Security Adviser, Ajit Doval said on Friday financial frauds have seen an exponential increase due to greater dependence on digital payment platforms following the Covid-19 pandemic.

He also said the centre was coming up with the national cybersecurity strategy-2020 which envisions the safe, secured, trusted, resilient and vibrant cyberspace for India's prosperity.

He was delivering a virtual lecture on cybersecurity, data privacy and hacking conference hosted by the Kerala Police and the Society for the Policing of cyberspace and Information Security Research Association. According to him, there is a change in the work environment that has been brought upon by the pandemic.

"There is a greater dependence on digital payment platform due to reduced cash handling, and greater data sharing is happening online, and presence on social media has also increased. While we are able to manage our affairs online to a certain extent, malicious actors also found in it, a new opportunity," Doval said.

Doval said there was an increase of 500% in cybercrimes due to limited awareness and cyber hygiene.

"Financial frauds have seen an exponential increase due to greater dependence on digital payment platforms. The adversaries are tempted to exploit the crisis situation through various misinformation, fake news etc. The substantial cyber data floating in the cyberspace is a gold mine for extracting information that can undermine the privacy of our citizens," Doval said.

He cautioned citizens while being online and said a responsible approach should be there while using the internet. The NSA complimented the state government and the Kerala police for the initiative.

Inaugurating the conference, Kerala Governor Arif Mohammed Khan said with the increased reliance on the internet becoming a permanent feature of people's lives due to Covid- 19, citizens need to be extra cautious while being online. "Various types of cybercrimes are happening in our country, and it's high time that we take proper precautions against such crimes," Khan said.

Senior police officials, including state police chief Loknath Behera, participated on the first day of the two-day conference.

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