LAGOS, Nigeria (VOICE OF NAIJA) – Indian Prime Minister Narendra Modi has highlighted the increasing use of technology by terrorist organizations for radicalization and illegal activities, including leveraging emerging digital platforms like the darknet, metaverse, and cryptocurrencies.
In an exclusive interview with PTI, he emphasized the need for global cooperation to address cybercrime challenges.
Modi referenced the World Bank’s estimate that cyber-attacks may have caused global losses of around $5.2 trillion during 2019-2023.
However, he stressed that the impact extends beyond financial losses, encompassing social and geopolitical implications.
He cited cyber terrorism, online radicalization, and the use of networked platforms for money laundering and terror funding as pressing issues.
Modi underlined that cyberspace has introduced a new dimension to combating illicit financial activities and terrorism.
Addressing the seriousness of cyber threats, he noted that they not only lead to financial losses but can also disrupt the social fabric of nations.
The spread of ‘deep fakes’ and fake news can incite social unrest and undermine the credibility of news sources.
Modi highlighted India’s hosting of a G20 Conference in July, focusing on crime and security in the age of non-fungible tokens (NFTs), artificial intelligence, and the metaverse.
The conference emphasized the need for international coordination to counter malicious cyber activities and the importance of a comprehensive international convention for addressing ICTs’ criminal use.
The Prime Minister stressed that global cooperation is essential in the field of cybersecurity due to the distributed nature of cyber threats.
He noted that threats involve various entities spread across different regions, making collaboration between nations imperative.
During the G20 conference, Union Home Minister Amit Shah also emphasized the security challenges arising from technological advancements, such as the metaverse and cryptocurrencies, and called for real-time information sharing among G20 member countries to combat cybercrimes.
As of December 13, 2022, India had reported over 16 lakh cybercrime incidents in a three-year period beginning in 2019, leading to more than 32,000 FIRs being registered.