StartupTalky

Tag: Indian Cybercrime Coordination Centre

  • To Strengthen Cooperation on Cybercrime, India and the US Sign an MOU

    A memorandum of understanding (MoU) has been struck by the US and India to strengthen collaboration in cybercrime investigations. The MoU would enable the two nations to “step up” collaboration and training with relation to employing digital forensics and cyber threat intelligence for criminal investigations, according to a statement from the external affairs ministry (MEA). The home ministry and the Indian Cybercrime Coordination Centre (I4C) would be in charge of carrying out the Memorandum of Understanding on the Indian side. Conversely, the US side’s nodal agency will be the Homeland Security Investigations Cyber Crimes Centre, US Immigration and Customs Enforcement (ICE), and the Department of Homeland Security.

    Further Strengthening India-US Ties

    The security issues that India and the US share, including terrorism and violent extremism, financing of terrorism, drug trafficking, organised crime, human trafficking, illegal migration, money laundering, and transportation security, are intricately linked to cybercrime. “As part of our comprehensive and global strategic partnership, the MoU on cybercrime investigations will enable further strengthening of India-US security cooperation,” the MEA’s official statement stated. On January 17, Indian Ambassador to the United States Vinay Kwatra and Acting U.S. Deputy Secretary of Homeland Security Kristie Canegallo signed the agreement in Washington, DC.

    The action is anticipated to promote cybersecurity cooperation between the two countries, facilitate information exchange, and open the door for prompt inquiry in such situations. This comes days after the US, Japan, and South Korean governments jointly said that state-backed North Korean hackers were responsible for the $235 million hack at the Indian cryptocurrency exchange WazirX last year. Additionally, the development coincides with an increasing number of cyberattacks targeting Indian organisations and entities. In 2024, India became the second most targeted country in the world for cyberattacks, after the United States.

    Great Surge in Cyber Attacks in 2024: Prahar’s Report

    Across the first quarter of 2024, there were 500 million cyberattacks across the nation, according to a report by the nonprofit Prahar. In the second quarter of last year, there were about 750 million more attacks. AI and ML techniques have made cyber dangers worse by teaching machines to automate and improve hacks, making them more difficult to detect. Last year, there were several significant cyberattacks in India, including those at the state-run telecom company BSNL (278 GB of private user data was exposed), the broking platform Angel One (personal data of 7.9 million consumers was exposed), and WazirX (which affected 15 million users).

    The signing coincides with a change in leadership in the United States, making it a pivotal time. The signing of this agreement by the Biden administration demonstrates the growing significance of international cooperation in cybercrime investigations.

    Emerging Companies Tap Into Billion-Dollar Mahakumbh 2025 Opportunity
    Emerging companies seize the billion-dollar opportunities presented by Mahakumbh 2025, tapping into its massive economic potential.
    StartupTalkyNitin Konde

  • The Government Warns About Four Illicit Payment Channels that Help Launder Money

    The Ministry of Home Affairs (MHA)’s Indian Cybercrime Coordination Centre (I4C) has taken a strong stance against cybercrime by warning about illicit payment gateways set up by transnational organised cybercriminals. Money laundering as a service is allegedly being facilitated by these gateways, which were made utilising mule bank accounts.

    These actions indicate a number of payment gateways, including RPPay, PoccoPay, RTX Pay, and PeacePay. According to reports, these platforms are run by foreigners and are a component of a bigger network that provides services for money laundering.

    Frequent Raids Are Being Conducted Nationwide

    The Ministry of Home Affairs announced in a news release that a network of illicit digital payment gateways connected to numerous cybercrimes was discovered during nationwide operations by the Gujarat and Andhra Pradesh Police.

    The Ministry claims that these operations, which were mostly discovered via social media sites like Facebook and Telegram, took use of rented bank accounts from people and shell corporations. Social media platforms are used to research current and savings accounts. According to government officials, these accounts are owned by shell corporations, businesses, or private citizens.

    What I4C’s Investigations Further Revealed?

    These mule accounts are frequently remotely managed from overseas, according to the I4C’s investigation. Once set up, these gateways made it possible for criminal syndicates to handle deposits for illegal operations such as offshore betting, phoney stock trading platforms, and fraudulent investment schemes.

    Because dealing in illegal funds might result in severe legal consequences, including arrest, the I4C advised citizens against selling or renting their bank accounts or any company registration documents. According to I4C, banks may utilise checks to find instances of bank account misuse that result in the establishment of illicit payment gateways.

    Who is Indian Cybercrime Coordination Centre?

    Cyberspace transcends national borders and manages Coordination between many stakeholders in various jurisdictions at all levels is necessary to combat cybercrime. One of the types of transnational crime that is expanding the fastest is cybercrime. There has been an exponential rise in cybercrime worldwide due to the surge in internet usage and rapidly evolving technologies.

    In order to put a firm scanner on the cyber activities, the Ministry of Home Affairs, Government of India, launched the Indian Cybercrime Coordination Centre (I4C). This move was initiated to address cybercrime throughout the nation in a comprehensive and coordinated way.

    I4C aims to address every aspect of cybercrime for the benefit of the public, including enhancing cooperation between different law enforcement organisations and interested parties, promoting improvements in India’s overall capacity to combat cybercrime, and raising citizen satisfaction levels.

    On October 5, 2018, the Indian Cybercrime Coordination Centre plan was authorised. Since its inception, it has sought to improve the country’s overall capacity to combat cybercrimes and foster efficient cooperation between law enforcement agencies. The Home Minister dedicated the I4C to the nation on January 10, 2020.

    RBI Increases UPI Lite Limit to Simplify Digital Payments
    RBI increases UPI Lite wallet limit and increases per transaction limit to INR 500, aiming to boost UPI usage and enhance payment convenience.
    StartupTalkyNitin Konde