Rajnath concerned over cyber frauds in financial sector

Speed Post News Network

New Delhi : Home Minister Rajnath Singh on September 19, 2017, chaired a meeting of all concerned agencies and representatives of certain States to review the measures being taken to arrest the growing trend of cybercrime in the financial sector. He expressed concern over the disturbing rise in cyber frauds using cards and e-wallets in particular.

The strategies being adopted to check financial cybercrimes were discussed in detail. Officers from various agencies made presentations and appraised the Home Minister of the current trends of financial cybercrimes in the country and the steps being taken by their agencies to address this challenge, according to a PIB release.

It has been noted that both legal and technological steps need to be taken to address this situation. Capacity Building of various stakeholders such as police officers, judicial officers, forensic scientists as well as officials in the banking sector has been identified as a key measure. It has been decided to expedite the implementation of cybercrime prevention initiatives in these agencies towards this end along with measures required to acquire critical cyber forensics equipment.

The Union Home Minister directed all concerned agencies to undertake required measures in a time bound manner and emphasized on coordination of all agencies concerned in this regard. It was decided that an inter-ministerial committee may be set up to identify action points and monitor the implementation, according to a PIB release.

The meeting was attended by Union Home Secretary, Secretary Department of Financial Services, Secretary MeitY, Director Intelligence Bureau, Commissioner of Police Delhi and National Cyber Security Coordinator.