Cyber Attacks Costing Trillions: HM Amit Shah Urges Global Cooperation for a Secure Digital Future

 

GURUGRAM: Union Home Minister Amit Shah took the stage on Thursday at the two-day 'G20 Conference on Crime and Security in the Age of NFTs, Artificial Intelligence, and Metaverse' held in Gurugram, where he addressed the international community. Shah shed light on the concerning trend of technology being exploited by malicious actors and global forces to inflict economic and social harm upon citizens and governments worldwide. He emphasized the urgent need for united efforts and uniform laws among nations to effectively counter cyber threats.

During the conference's inauguration, Shah acknowledged the positive aspects of technology, which have brought people, communities, and nations closer together. However, he also shed light on the darker side of technological advancements, where malevolent entities exploit technology for personal gain, often at the expense of others. Speaking to an audience of over 900 participants from G20 countries, nine special invitee countries, international organizations such as Interpol, and technology leaders and experts, Shah called for collaborative endeavors to safeguard nations and citizens from digital crimes.

Also Read: Cybercrime in Nagpur - Cyber Blackmailer Couple Arrested in Pune for Extorting Money

The Importance of Uniform Laws and Global Cooperation

Home Minister Amit Shah emphasized the necessity of uniform laws across countries to effectively combat digital crimes. He stressed the need for a united front against cyber threats and highlighted the importance of establishing a dedicated common channel among nations to prevent financial irregularities facilitated by digital currencies. Shah underscored that the activities of cybercriminals directly impact national security, law and order, and the economy, making it crucial to transcend conventional geographic boundaries.

Concerns Regarding the Metaverse and Terrorism

Shah expressed concerns about the metaverse, emphasizing its potential as a platform for terrorist organizations to exploit for purposes such as propaganda, recruitment, and training. He warned that the metaverse's unique attributes could make it easier for terrorist groups to target vulnerable individuals and tailor their materials accordingly.

Collaborative Efforts against Cyber Threats

The Home Minister stressed that combatting cyber threats requires a united front, emphasizing that no single country or organization can tackle these challenges alone. He proposed the establishment of a 'Cyber Success World,' where collaboration, idea sharing, and international partnerships can flourish.

Cybercrime and Digital Currency

Acknowledging the rise in cybercrime involving digital currencies, Shah emphasized the need for a dedicated common channel among nations to prevent financial irregularities associated with such transactions.

Also Read: Kashmiri Brother-in-Law could not show Kamal, and pressure on Nagpur police failed

Concerns about Terrorist Financing

Shah expressed concerns about terrorists leveraging technology, including virtual assets and cryptocurrencies, to perpetrate violence, radicalize youth, and raise funds. He urged countries to develop a common strategy to counter these emerging challenges.

Financial Impact of Cyber Attacks

Citing data from the World Bank, Shah revealed that cyber attacks could potentially result in global losses amounting to $5.2 trillion between 2019 and 2023.

The Importance of Global Cooperation

Shah emphasized the need for global cooperation in harmonizing cybersecurity benchmarks, best practices, and regulations. He stressed the significance of sharing real-time cyber threat intelligence among member countries, with active support from industry and academia, to safeguard critical infrastructure.

Strengthening Cyber Agencies and Investigation

The Home Minister called for greater coordination among cyber agencies worldwide to promptly report and take action against cyber incidents. He stressed the necessity of joint efforts to investigate cross-border cybercrimes and build a peaceful, secure, deterrent, and open information and communication technology environment.

Union Home Minister Amit Shah's address at the 'G20 Conference on Crime and Security in the Age of NFTs, Artificial Intelligence, and Metaverse' highlighted the urgency of global cooperation and uniform laws in effectively combating cyber threats and digital crimes. With over 900 participants from various countries, the conference aims to foster collaboration, share ideas, and forge international partnerships to create a secure and prosperous digital future for all.

Source: https://www.the420.in/cyber-attacks-costing-trillions-hm-amit-shah-urges-global-cooperation-for-a-secure-digital-future/



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