Press Release

Digital Literacy can help people escape any cybercrimes and frauds

New Delhi, 22nd March 2022: ASSOCHAM, an apex body, hosted session 2 of the 12th Global Summit on Fraud and Forensics, "Emerging Trends and Combating Challenges," as part of its annual summit session, with the purpose of increasing consciousness about cyber scams and frauds and how to avoid them in personal and professional settings. The inclusion of digital risk management and security planning can help businessmen in the long run.    

The Guest of Honour, CMA P. Raju Iyer President The Institute of Cost Accountants of India highlighted that there are no sufficient resources or technology to report or detect frauds in India. The lack of a central monitoring authority makes it more difficult to identify the root cause of cyber-crime or fraud. 'More corporate, social, and forensic methodology should be used in the detection of cyber scams,' he stated. He went on to say that as digital complexity grows, the business environment becomes increasingly vulnerable to digital threats and data fraud.  

He mentioned about the importance of internal auditor role and how the inner influence of the corporate environment can save the company's data, assets and property, private information . The employees are under risk too who are on payroll with the remote access of data. He stressed upon the government's role to strengthen the cyber security system in the nation for safety of the economy.  

In his special address Prof. (Dr.) Triveni Singh, IPS Superintendent of Police, Cyber Crime Uttar Pradesh Police stated that there have been around 1,20,000 cases of cyber frauds in the last month alone. "56 percent of them were financial scams, 26% were social media frauds, and the rest were of a highly technical nature," he continued. With no regulator body, people are abusing the space of crypto market, dark web, and ransomware.  
 
He mentioned that it is a global issue of concern as the nature of crime cannot be detected easily. He noted that technical skillsets, advanced forensic data analysis, and modus operandi findings of the outcome are all critical in identifying the offender. He streamlined the three challenges of Fraud and Forensics that are- Technical nature, legal issues, and administrative role.    

Mr. Shobhit Agarwal Chairman, ASSOCHAM National Council for Internal Audit and Risk Management & Partner Advisory, KPMG in India said public awareness is the key. Finding out the answer of 5W1H (what, who, when, where why and how) is necessary for any cybercrime to unfold. Analysing what social media or web interactions are taking place in the workplace is an important aspect. Consumers should identify their obligations and rights while using the web with responsibility. There are more cases of money being stolen from online wallets or bank accounts, he added.   

Mr. Naveen Aggarwal, Co-Chairman, ASSOCHAM National Council for Internal Audit and Risk Management, and Partner, SS Kothari Mehta & Company, gave his viewpoint on Analysis of new age cyber-attack patterns in emerging technologies.  Mr. Basudev Mukherjee, Assistant Secretary General, ASSOCHAM gave his welcome address while focusing on the challenges faced.