Over 100 Websites in Crackdown Against Organized Investment and Task-Based Economic Frauds
The Indian government, through the Union Home Ministry, has initiated a significant crackdown on organized investment and task-based economic frauds by blocking more than 100 websites. The Ministry of Electronics and Information Technology executed the website blocks based on recommendations from the National Cybercrime Threat Analysis Unit. Overseas actors were allegedly involved in facilitating illegal investment-related economic crimes, utilizing digital advertising and chat messengers. The large-scale frauds uncovered were found to involve laundering proceeds out of India through various channels, including card networks and cryptocurrencies.
In a significant move to counter organized investment and task-based economic frauds, the Centre has taken action by blocking more than 100 websites, according to an announcement from the Union home ministry on Wednesday.
The Ministry of Electronics and Information Technology (MeitY) executed the website blocks based on recommendations from the National Cybercrime Threat Analysis Unit (NCTAU) under the Ministry of Home Affairs (MHA). Last week, the NCTAU identified and suggested the blocking of these websites involved in organized investment and task-based part-time job frauds. The decision to block these websites was made by MeitY, utilizing its powers under the Information Technology Act of 2000.
The blocked websites were found to play a role in facilitating organized illegal investment-related economic crimes, allegedly operated by overseas entities. These overseas actors were reported to employ digital advertising, chat messengers, and mule/rented accounts for their illicit activities.
The ministry revealed that the large-scale economic frauds perpetrated through these websites involved the laundering of proceeds out of India, utilizing various channels such as card networks, cryptocurrencies, overseas ATM withdrawals, and international fintech companies.
Numerous complaints regarding these frauds were received through the 1930 helpline and the National Cybercrime Reporting Portal (NCRP). The ministry emphasized that these offenses posed significant threats to citizens and raised concerns about data security.
The modus operandi of these frauds typically initiated with targeted digital advertisements on platforms like Google and Meta, using keywords like "Ghar baithe job (Jobs while sitting at home)" and "Ghar baithe kamai kaise karen (how to earn money while sitting at home)" in multiple languages from overseas advertisers. The targets were often retirees, women, and unemployed youth seeking part-time employment.
Once a user clicked on the advertisement, an agent using WhatsApp or Telegram engaged with the potential victim, convincing them to perform seemingly easy tasks such as 'video likes' and subscriptions. After gaining the victim's confidence, they were asked to invest more money for higher returns. However, when the victim deposited a larger sum, the deposits were frozen, resulting in the victim being duped.
The ministry underscored the importance of ensuring a cyber-safe India and mentioned it as one of the top priorities of the MHA. Union Home Minister Amit Shah's commitment to curbing cybercrime and protecting citizens from cyber threat actors was emphasized in the statement. Citizens were urged to promptly report phone numbers and social media handles used by fraudsters to the NCRP at www.cybercrime.gov.in.
What's Your Reaction?
