The widespread digitization, initially catalyzed by the demonetization drive in 2016 and further accelerated by the global pandemic, has become omnipresent. Individuals, driven by the necessity to seamlessly conduct day-to-day activities, have wholeheartedly embraced digital platforms.
From purchasing train tickets to acquiring vegetables from roadside vendors and even settling payments with a roadside vendor for a meal, every transaction can now be effortlessly executed through mobile applications, eliminating the reliance on a physical wallet. The convenience of conducting transactions on the go, at any time and place, has undeniably brought substantial benefits to users.
However, the ease and swiftness of digital transactions, while providing convenience, have also opened avenues for cybercriminals to perpetrate fraud over the internet. Exploiting this newfound convenience, they deceive unsuspecting customers who, even if they realize they have been duped, find themselves helpless in a split second.
Bringing these cybercriminals to justice poses a formidable challenge, exacerbated by the dynamic nature of fraudulent activities. This dynamism makes it arduous for cyber cell teams to effectively tackle and mitigate the growing threat, which is not limited to a specific location.
In contrast to traditional physical thefts, which have prompted people to adopt vigilant measures such as using bank lockers, safety doors, and opting for imitation jewellery, online thefts or frauds present a different challenge. They can occur anywhere in the world, with the sole requirement being access to the internet. This global accessibility has rendered users who lack awareness or vigilance about cybercrimes susceptible to online threats.
This story is from the December, 2023 edition of Beyond Market.
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This story is from the December, 2023 edition of Beyond Market.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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