Highlighting the increasing reliance on technology by terrorist organizations for radicalization purposes, Prime Minister Narendra Modi has drawn attention to their exploitation of emerging digital avenues such as the dark net, metaverse, and cryptocurrency networks. His call for global cooperation underscores the need to combat cybercrimes more effectively.
During a unique conversation with PTI, he emphasized that according to the World Bank's calculations, cyber attacks might have resulted in global losses nearing USD 5.2 trillion between 2019 and 2023.
Yet, he pointed out that their repercussions extend far beyond financial dimensions, encompassing deeply concerning activities.
“Cyber terrorism, online radicalization, and the use of networked platforms to move funds from money laundering to drugs and terrorism are just the tip of the iceberg. Terrorist organizations are using technology for radicalization, moving money from money laundering and drugs into terror funding, and capitalizing on emerging digital avenues such as the dark net, metaverse, and cryptocurrency platforms to fulfill their nefarious aims,” he added.
Modi highlighted the disruptive potential of 'deep fakes,' expressing concern that their proliferation could lead to chaos and erode the credibility of news outlets. He further noted that fake news and 'deep fakes' have the capacity to incite social unrest.
In July, India hosted a G20 Conference focusing on the challenges posed by NFTs (Non-Fungible Tokens), Artificial Intelligence, and the Metaverse in the context of crime and security. At this conference, the prime minister highlighted the shared concern regarding malicious cyber activities that run counter to established norms, principles, and international laws governing cyberspace.
At the conference, it was emphasized by Modi that there was genuine concern voiced regarding malicious cyber activities that run afoul of established norms, principles, and regulations governing cyberspace and international law.
There was a clear call for enhanced coordination in developing prevention and mitigation strategies. Furthermore, there was a notable emphasis on the imperative of establishing a comprehensive international convention aimed at countering the misuse of Information and Communication Technologies (ICTs).
As per the information presented in Parliament on December 13, 2022, India witnessed a staggering number of over 16 lakh cybercrime incidents during the three-year span commencing in 2019. Subsequently, more than 32,000 First Information Reports (FIRs) were lodged in response to these incidents.
