Government to set up inter-ministerial committee on financial cybercrimes

New Delhi, Sep 19 (IANS) The government has decided to set up an inter-ministerial committee to monitor implementation of measures to check rise in financial cybercrimes.

The decision was taken at a meeting chaired by Home Minister Rajnath Singh where he reviewed measures being taken to arrest the growing trend of cybercrime in the financial sector.

He expressed concern over the disturbing rise in cyber frauds using cards and e-wallets in particular.

An official statement said the strategies being adopted to check financial cybercrimes were discussed in detail.

Officers from various agencies made presentations and apprised the minister of the present trends of financial cybercrimes in the country and the steps being taken to address this challenge.

"It has been noted that both legal and technological steps need to be taken to address this situation," the statement said.

The meeting also laid emphasis on capacity building of various stakeholders such as police officers, judicial officers, forensic scientists as well as officials in the banking sector.

The release said the meeting decided to expedite implementation of cybercrime prevention initiatives apart from measures to get critical cyber forensics equipment.

The minister directed all concerned agencies to undertake required measures in a time bound manner and laid emphasis on the need of coordination between the agencies in this regard.

"It was decided that an inter-ministerial committee may be set up to identify action points and monitor the implementation," the statement added.

The meeting was attended by Home Secretary Rajiv Gauba and top officials from the Department of Financial Services, Intelligence Bureau and Delhi Police besides the National Cyber Security Coordinator.