NEW DELHI: Since its inception in 2018, the Central Government’s “special purpose unit” known as the Indian Cyber Crime Coordination Centre (I4C) has saved over Rs 12 crores of hard-earned money of cybercrime victims across the country.
And the credit goes to the hardworking officials assigned to the 14C wing’s “Cyber Citizen, Cyber Fraud Reporting and Management System,” which was established under the MHA in 2018 and inaugurated in 2020 by Union Home Minister Amit Shah.
The “Cyber Citizen, Cyber Fraud Reporting and Management System” ensures the quick registration of cybercrime-related reports as well as the compounding of the money defrauded from the victim’s wallet or account before it is removed from the system. Furthermore, this one-of-a-kind system returns the defrauded funds to the victims.
On Thursday, Additional Secretary Ministry of Home Affairs (MHA) Govind Mohan briefed a day-long national conference of Chief Information Security Officers (CISO), Chief Risk Officers (CRO), and Intermediaries here in the national capital.
Noting that approximately 60% of cyber frauds are financial frauds, the official stated that the “Cyber Citizen, Cyber Fraud Reporting and Management System” has played a significant role in impounding the money fraudulently stolen from the victims’ bank accounts and returning these amounts to them.
“So far, over Rs 12 crore in stolen funds from cybercrime have been impounded in the system and returned to the victims. This is one of the most notable contributions made by I4C officials” Mohan stated.
Over 5.5 lakh cybercrime cases have been registered at the “Cyber Crime Reporting Portal” under I4C in the last three-four years since this special purpose unit of the MHA was established in the fight against cyber frauds, according to the official. “…And in 30% of these cybercrime cases, First Information Reports (FIRs) have also been filed.”