Wait on for new anti-fraud platform

CHENNAI: It seems Tamil Nadu will have to wait a bit to get the helpline and the platform launched by the Centre for the real-time reporting and handling of financial cyber frauds. A s of now, the helpline (155260) and the platform (Citizen Financial Cyber Frauds Reporting and Management System) are available together only in seven states and Union Territories – Chhattisgarh, Delhi, Madhya Pradesh, Rajasthan, Telangana, Uttarakhand, and Uttar Pradesh.

Though a statement from the ministry issued on Thursday read that the roll-out in the remaining states is underway, an official in the State, privy to the development, told TNIE that Tamil Nadu is likely to take more time to join the league. “The initiative needs coordination between various departments and it will certainly take time.

There are, however other factors besides this,” the official said, refusing to elaborate on these ‘other factors’. If implemented, the technology would benefit Tamil Nadu residents hugely, as, according to a former Chennai Police Commissioner, 80 per cent of cases coming to cybercrime division were related to financial frauds.

Besides, Union Finance Ministry’s 2019 data had reportedly stated that Tamil Nadu ranked first in the amount of money involved in frauds pertaining to debit and credit cards and internet banking during 2016-19. The helpline and the platform was operationalised by the Indian Cyber Crime Coordination Centre (I4C) under the Union Home Ministry, with cooperation from the Reserve Bank of India (RBI), all major banks, payment banks, wallets, and online merchants.

How the tech works
1) Victim calls 155260 - operated by the State police concerned
2) Police notes down details and raises a ticket on the management platform
3) The ticket (a request) reaches banks, wallets, and merchants concerned.
4) Victim is alerted with an acknowledgement number and told to submit complete details of the fraud on https://cybercrime.gov.in/ within 24 hours
5) Meanwhile, bank concerned see the ticket and put the transaction on hold. If the money is moved, the ticket is sent to the next bank to which the money had been transferred. The process is repeated.

Read the full story on on www.newindianexpress.com