Cyber Crime
Cyber Attacks Costing Trillions: HM Amit Shah Urges Global Cooperation for a Secure Digital Future
GURUGRAM: Union Home Minister Amit Shah addressed the international community during the two-day ‘G20 Conference on Crime and Security in the Age of NFTs, Artificial Intelligence, and Metaverse’ in Gurugram on Thursday.
Shah highlighted the growing concern of technology being exploited by antisocial elements and global forces to cause economic and social harm to citizens and governments worldwide. The minister stressed the necessity of a united front and uniform laws among countries to counter cyber threats effectively.
Inaugurating the conference, Shah underscored the positive aspects of technology, bringing people, communities, and nations closer together. However, he warned about the dark side of technological advancements, where malicious actors leverage technology for their benefit at the expense of others. Addressing over 900 participants from G20 countries, nine special invitee countries, international bodies like Interpol, and technology leaders and domain experts, Shah urged for collaborative efforts to protect nations and citizens from digital crimes.
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Key Points:
Importance of Uniform Laws and Global Cooperation:
Home Minister Amit Shah stressed the necessity of uniform laws across countries to combat digital crimes effectively.
He called for a united front against cyber threats and emphasized the need for a dedicated common channel among nations to prevent financial irregularities facilitated by digital currencies.
The home minister highlighted that cybercriminals’ activities directly impact national security, law and order, and the economy, making it imperative to rise above conventional geographic boundaries.
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Concerns Regarding the Metaverse and Terrorism:
Shah expressed concerns about the metaverse, highlighting potential opportunities for terrorist organizations to exploit the platform for propaganda, recruitment, and training purposes.
He warned that the metaverse’s attributes could make it easier for terrorist groups to target vulnerable individuals and tailor their materials accordingly.
Collaborative Efforts against Cyber Threats:
Shah emphasized that combatting cyber threats requires a united front, stating that no single country or organization can tackle the challenges alone.
He proposed the establishment of a ‘Cyber Success World,’ where collaboration, idea sharing, and international partnerships can thrive.
Cybercrime and Digital Currency:
The home minister acknowledged the rise in cybercrime involving digital currencies and stressed the need for a dedicated common channel among nations to prevent financial irregularities associated with such transactions.
Concerns about Terrorist Financing:
Shah raised concerns about terrorists leveraging technology, including virtual assets and cryptocurrencies, to perpetrate violence, radicalize youth, and raise funds.
He urged countries to devise a common strategy to counter these emerging challenges.
Financial Impact of Cyber Attacks:
Citing World Bank data, Shah revealed that cyber attacks could potentially result in global losses amounting to $5.2 trillion between 2019 and 2023.
The Importance of Global Cooperation:
Shah underscored the need for global cooperation in harmonizing cyber security benchmarks, best practices, and regulations.
He emphasized the significance of sharing real-time cyber threat intelligence among member countries, with active support from industry and academia to safeguard critical infrastructure.
Strengthening Cyber Agencies and Investigation:
The home minister called for greater coordination among cyber agencies worldwide to report and take action against cyber incidents promptly.
He stressed the necessity of joint efforts to investigate cross-border cyber crimes and build a peaceful, secure, deterrent, and open information and communication technology environment.
Union Home Minister Amit Shah’s address at the ‘G20 Conference on Crime and Security in the Age of NFTs, Artificial Intelligence, and Metaverse’ highlighted the urgency of global cooperation and uniform laws to combat cyber threats and digital crimes effectively. With over 900 participants from various countries, the conference aims to foster collaboration, share ideas, and forge international partnerships to create a secure and prosperous digital future for all.
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