The Indian MHA with I4C has recently provided a severe notice on the growing use of other unlawful payment systems and fake accounts, mule consideration, posing a major risk to its growing financial environment. The digital currency is getting more popular today, and so the modern ways used our internet fraudster. The escalating use of online payments gives a social engineering loophole to fraudulent activities, making the MHA to consider tackling the problem.
Mule accounts are really the bank accounts run by individuals who either knowingly or unknowingly perform the services of a mule, or a person who is used by a criminal in a fraud scheme. They are employed to launder or ‘urn’ the proceeds of the illicit earnings to the point that the authorities cannot easily follow the sources of the income. All these provided exercises hamper the efficiency of the financial system but also allow for money laundering and other related crimes.
The MHA has demanded that sober measures that should be put in place by the financial institutions to deal with the increased threat. This includes extending support to the KYC heightened norms to guarantee that no account is instituted without the requisite confirmation of the client’s identity. Through these measures, the MHA is planning to decrease the volume of mule accounts which can be registered using fake ID or poor credentials.
Also, there has been increased concern in the MHA for people to be wary of becoming a mule account operator. Some people will be tempted to participate in the scams due to the fact that they will make money without understanding the law and the morality that comes with such business. Awareness campaigns in coordination with the financial institutions can help deal with the people to provide awareness of risks and consequences associate with illegitimate transactions.
More so, the MHA has encouraged banks and other financial institutions to improve on monitoring and reporting. By using big data solutions and AI, these institutions will be able to identify malicious activities and inform the appropriate authorities on the same. The experience shows that cooperation here is important; financial institutions and law enforcement bodies should identify and investigate suspicious transactions and operations.
The warning that is issued by the MHA also solve the problem of regulation. This requires a timely review of the existing rules governing the online payment systems and the reality they face currently. This includes changing the cyber-security measures and strengthening measures regarding individuals convicted of utilizing or running mule accounts and other illicit payment conduits.
These measures have been accompanied by calls for cooperation from the MHA, as a manifestation of an international concern of this scourge. Many hackers know no boundaries which is why nations must work in congruence especially in sharing intelligence on global financial criminals. It can be concluded that closer cooperation with the international governing bodies and police departments would greatly improve the results of these measures.
Although getting the warning from the MHA proves how serious the situation now is, this is also a sign of MHA taking preventive measures against the difficulties brought by illegal payment gateways and mule accounts. Thus, the described multi-dimensional approach based on the MHA’s initiative that comprises the regulation, increased public awareness, and monitoring measures, as well as international cooperation shall contribute to the establishment of the long-term and effective protection of the financial environment.
Cyber Crime Coordination Centre (I4C)
The I4C for short standing for Indian Cyber Crime Coordination Centre is a great stride taken by the Indian government with an aim and objective of tackling and reducing the cases of cybercrime in India. In order to cater for the rapidly growing and diverse nature of cyber threats, the Ministry of Home Affairs created I4C in 2018 as a one stop problems of modern age.
I4C acts as the central coordinating body of multi-agency, multi-government department and private sector efforts and initiatives in cybercrime prevention, investigation, and prosecution. The centre comprises several segments, and each segment is charged with certain objectives that are intended to strengthen India’s cyber security systems.
Cyber Crime Reporting Portal is one of the most important pillars in I4C and this is an ONLINE reporting System where citizens can easily report any cybercrime securely. It offers a Website and a telephone hotline through which cybercrime victims can report incidents that will be referred to relevant police authorities for prompt action. I4C assumes that improving the timeliness of incidents reporting will increase the number of people willing to report cyber-crimes by offering easy and fast access to the reporting system.
The other important task in accordance with the mandate of I4C is the creation of an organizational structure as the National Cyber Crime Threat Analytics Unit (TAU). This unit is expected to detect and evaluate cyber threats in real-time and primarily apply artificial intelligence and machine learning as tools. As such, the TAU will be able to screen and detect emerging trends and possible threats to prevent cyber-crime activities to worsen.
I4C also accounts for the development of capacity and staff trainings as the part of law enforcement officials. I4C’s division called Cyber Crime Training Centre (CCTC) offers initiation programs and workshops for police, forensic personnel and other groups continuously. These programs are intended to provide the knowledge, skills and new methods, which are necessary for participating in fight against cyber criminality. I4C seeks to enhance the existing depth and effectiveness of the workforce in the respective agencies in handling cyberspace threats in their ever dynamically nature.
However, I4C knows that cybercrime is an international issue so it is vital for various organizations to work together. The centre also shares intelligence and coordination with other international agencies as well as organizations. I4C was built to develop connections with international counterparts and thus improve cooperation and effectiveness in combating exploitative, highly skilled and rapidly evolving worldwide cyber criminals.
I4C’s works for strategic approach is public awareness and education. It works hard to provide the idea of cyber-security to citizens as well as to introduce them to the many types of cybercrimes, as well as the ways in which they can protect themselves from them. That is why I4C is an association whose goal is to raise awareness and work on the culture of users who are already, at least somewhat prepared for any cyber threats because this is the only way that would help them to be safer in cyberspace.
In addition, I4C collaborates squarely with key relevant players in the private realm; technology firm, financial institutions, and cyber-security companies to enhance more effective and efficient cyber-security measures frameworks. Through the employment of public-private partnerships, I4C aims at the development of a protective and tactful infrastructure for dealing with all forms of cyber threats.
Components of I4C
The Indian Cyber Crime Coordination Centre (I4C) is one of the key components in the proposed structure that is intended to strengthen India’s protection against increasingly threatening cyber threats. Given the fact that threats are more versatile in cyber space, the organizational structure of I4C is equally complex in order to provide a strong cover for all angles of threats posed in cyber space. Here are the key components that make up this formidable framework:
Cyber Crime Reporting Portal (CCRP): It is a convenient online service created to provide the citizens with a single location for reporting cybercrimes. The website provides a simplified procedure in which the victims can make complaints or even give details on the incident free of charge. This portal not only provides ease in finding but also helps in faster addressing of the complaints by directing it to the right police station.
National Cyber Crime Threat Analytics Unit (TAU): The TAU aims at constantly observing as well as evaluating cyber threats in real time. This unit utilizes artificial intelligence and Machine Learning to always process large volumes of data from various sources. This way it highlights trends that are likely to emerge, threats most likely to arise and other suspicious activities and plans that are expected and hence acts on them to reduce chances of them occurring.
Cyber Crime Investigation and Technical Support Unit: This unit is aimed at offering professional services for dealing with cybercrime incidents’ apprehension to the law enforcement organizations. Ethical hackers who help in cracking complicated cyber-crimes, computer investigation and analyzing crucial data are part of it and their participation is deemed crucial in the successful prosecution of cybercriminals.
Cyber Crime Training Centre (CCTC): A capacity development is one of the I4C’s key approaches, where the CCTC has a great engagement. The centre performs training, workshops, seminars for police staff, specialists in forensic examinations and other interested parties. Such sessions involve diverse issues as the current threats in cyberspace, research methods, and legal aspects. Based on the information acquired, CCTC enhances the total competence level of agencies through providing law enforcement personnel with adequate knowledge and skills to enable them to fight cybercrime efficiently.
National Cyber Crime Forensic Laboratory (NCFL): State of art equipments are available in the NCFL for forensic examination of digital evidences. This is a sophisticated laboratory that, due to modern instruments and techniques, serves an important function in conducting investigations. The capabilities of forensic experts working at NCFL include data examination, malware analysis, and network forensics to reveal some essential data and classify offenders.
Joint Cyber Crime Investigation Platform (JCIP): Through the JCIP, cooperation and synchronization of the different authorities in the state and national levels are promoted. Consequently, this platform fosters an exchange of information, resources, and best practices to help improve the capacity to solve intricate cybercrime cases. JCIP is also responsible for cooperation with international organizations in countering Transnational Cyber Threats.
Cyber Crime Ecosystem Management Unit: This component is designed to promote cooperation with the private sector in the development of a strong information security environment. Currently, the unit seeks to bring together technology companies, financial institutions, and cyber-security firms in order to design and implement efficient cyber-security structures. It also encourages the exchanging of information as well as the capacity to stimulate and support one another making the digital sector stronger.
Public Awareness and Outreach: With awareness being a key factor in discouraging the act of cybercrimes, I4C tends to undertake awareness creation activities. These initiatives have sought to ensure that the citizens of the world get to understand various types of cyber-crime activities, the relevance of cyber security and various measures that can be taken in order to avoid such criminal activities. In this regard, I4C establish proactivity among people and enable them to prevent cyber threats they face on their own.