“There has been a significant increase of 60.9% in cybercrime from 2022 to 2023, resulting in a staggering Rs. 10,000 crore in cybercrimes over the last three years” says Shri B. Shanker Jaiswal, (IPS), Joint Commissioner of Police (Tech, Cyber & Licensing), Delhi Police
PHDCCI, in collaboration with 63 Moons Technologies Ltd., organized a Conference on Cybersecurity – Challenges and Opportunities on March 14, 2024, at the India International Centre, New Delhi. The conference aimed to address the growing threat of cybercrime in India and discuss potential solutions to combat it.
The key objective of the Conference is to address the growing threat of cybercrime in India and discuss potential solutions to combat it.
Shri B. Shanker Jaiswal, (IPS), Joint Commissioner of Police (Tech, Cyber & Licensing), Delhi Police, was the Chief Guest at the Conference and provided insightful data regarding the cybercrime landscape in India. Mr. Jaiswal discussed the exponential rise in cybercrime, citing factors such as rapid evolution and anticipation of emerging threats. He outlined various types of cybercrimes, including ransomware, phishing, DDoS attacks, identity theft, investment fraud, and loan fraud. Additionally, Mr. Jaiswal shared alarming statistics on cybercrime cases in India, highlighting the urgent need for action in this domain. He revealed that investment scams and part-time job scams alone accounted for over 149,000 cases, with illegal lending apps/extortion totalling more than 85,000 cases, and incidents of sextortion reaching 19,000 cases. Mr. Jaiswal emphasized the significant growth of cybercrime trends, noting a 60.9% increase from 2022 to 2023, resulting in a staggering 10,000 crore rupees in cybercrimes over the last three years. He also addressed AI and machine learning-powered attacks, particularly focusing on deep fake technology and automated threats.
Mr. Jaiswal emphasized that with awareness, 80% of their job in combating cybercrime would be achieved, highlighting its paramount importance. He further highlighted that initiatives like these serve as the bridge to enhancing awareness and effectively addressing cyber threats.
During the event, Mr. Apurv Abhay Modi, Co-Chair of the ICT, Telecom & Electronics Committee at PHDCCI, emphasized the significance of addressing cybersecurity threats in India. He highlighted the importance of initiatives like these in raising awareness and fostering collaboration to tackle cybersecurity challenges effectively.
Moderated by Mr. Joseph Massey, Consultant at 63 Sats, the conference was timely, given the escalating cybercrime rates. He emphasized the urgency of addressing cybersecurity challenges in today’s evolving digital landscape. Mr. Massey highlighted the significance of the conference’s theme, emphasizing that it is not only about discussing challenges but also about the opportunities to enhance cybersecurity measures. By focusing on solutions, the conference aimed to empower attendees with actionable insights to protect against cyber threats effectively.
Dr. Prashant Mali, a Cyber Security Lawyer & President of Cyber Law Consulting, posed thought-provoking questions about the prevalence of cybercrimes in India compared to other countries. His address prompted attendees to consider the underlying factors contributing to India’s vulnerability to cyber threats and the importance of comprehensive cybersecurity measures.
Mr. N. K. Goyal, President of the Cyber Security Association of India, further elaborated on the importance of cybersecurity and highlighted the need for collective efforts to enhance cybersecurity measures in the country.
Shri Vinayak Godse, CEO of the Data Security Council of India, shared additional insights into cybersecurity and emphasized the critical role of organizations like DSCI in promoting cybersecurity awareness and best practices to combat it.
Lastly, Mr. Neehar Pathare, Tech CEO & CISO of 63 Moons Technologies Limited, discussed the company’s commitment to revolutionizing the cybersecurity landscape. He outlined the comprehensive suite of cybersecurity solutions offered by 63 Moons Technologies Ltd. and highlighted their efforts to address talent shortages in the cybersecurity field through collaboration with universities and the establishment of a decentralized franchise network.
Mr. Pathare further explained how these solutions would help in addressing cybersecurity challenges effectively. By leveraging CYBX, 63 SATS, and Cyberdome, organizations can enhance their resilience against cyber threats, safeguarding sensitive data and critical systems. The tailored approach ensures that businesses can adapt to evolving cybersecurity risks, mitigating potential breaches and financial losses. Moreover, by collaborating with universities and nurturing cybersecurity talent, 63 Moons Technologies aims to foster a community of experts capable of staying ahead of emerging threats, thereby contributing to a more secure digital environment for all.
