Under the anti-money laundering statute, the government has given the Indian Cyber Crime Coordination Centre (I4C) permission to exchange and receive information from the Enforcement Directorate in an effort to track down financial trails and stop cybercrimes.
The Finance Ministry’s Revenue Department put I4C under Section 66 of the Prevention of Money Laundering Act in a notification dated April 25. Information from the Enforcement Directorate and other law enforcement organizations might be shared and received by I4C more easily as a result. This would make it easier to track down the masterminds of cybercrimes.
This information exchange would assist in identifying the masterminds behind the increasingly widespread, transnational cyber scams that target the average person.
These kinds of online scams are being carried out by means of phony websites, misleading social media profiles, and sponsored search engine ads. These scammers also send an OTP or a link to a website to a person’s phone or email. When the victim clicks on the link or shares the OTP, their computer or phone is compromised.
In order to report such websites, the government has asked the people to phone 1930 in the event of fraud or use the National Cybercrime Reporting Portal at cybercrime.gov.in.
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