FM stresses on building awareness among people to curb cyber fraud

Nirmala Sitharaman (Finance Minister) said on Thursday that there is a need to raise public awareness about cyber fraud and take control of technology to prevent scammers from manipulating the system.

Speaking at the ‘DATE with Tech’ event, the minister stated that in order to prevent cyber fraud, when people are misled by a phone call or SMS, the government monitors public sector banks on a regular basis, and the RBI reviews its own systems. Insurance companies also conduct system reviews.

“Citizens are at risk until knowledge, unless we are able to establish the attentiveness in the minds of people that I should not go by anything that is mentioned on my phone, is built,” Sitharaman added.

She stated that at the micro level, there is concern about people receiving random calls, putting them in a situation where they become stuck and end up losing money.