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I4C-ED Information Sharing: The government has authorized the Indian Cybercrime Coordination Centre (I4C) to share and receive information with the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA).
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Purpose: This move aims to detect money trails and combat cyber frauds by facilitating the identification of masterminds behind these crimes.
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Section 66 of PMLA: The Revenue Department included I4C under Section 66 of PMLA via a notification dated April 25, enabling the information exchange with the ED and other law enforcement agencies (LEAs).
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Cyber Fraud Trends: Online frauds are perpetrated through fake websites, deceptive social media pages, paid advertisements, and phishing tactics (OTP/weblink sharing).
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Reporting Mechanisms: The public is urged to report cybercrime incidents on the National Cybercrime Reporting Portal (cybercrime.gov.in) or call the helpline number 1930.
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I4C’s Role: I4C acts as the nodal point at the national level to fight cybercrime, bringing together government, academia, industry, and the public.
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Transnational cyberfrauds: Information sharing will help identify the masterminds behind such frauds which are mostly trans-national.