Digital Arrest: A solution to digital arrest has been found; with the press of a button, the scammers' plans will be thwarted..
To curb the rising incidents of digital arrests in the country, the government has adopted an effective strategy. The Ministry of Home Affairs had formed a high-level committee to address the problem of digital arrests. This committee has suggested options like a ‘kill switch,’ which can instantly stop scammers' plans with the press of a button. Furthermore, the committee has also suggested a method for compensating victims for any financial losses incurred during a digital arrest.
The high-level committee of the Ministry of Home Affairs has suggested options like a ‘kill switch.’ This means that if someone suspects they are being targeted by digital fraud, they can immediately stop all their financial transactions using this kill switch button. This will prevent scammers from withdrawing money from the account or committing fraud, and the bank will freeze all the user's accounts for a certain period.
Provision for Compensation
A system for covering losses related to fraud in the banking system may also be introduced soon, as the increasing scams in the digital age are forcing commercial banks to rethink their risk management frameworks. The aim is to better protect customers and the entire financial system. The committee has also suggested introducing such insurance products along with the kill switch.
How the Emergency Button Will Work
An inter-departmental committee was formed last December for the kill switch. Among other options, an emergency button system could be implemented, which would be integrated into lenders' payment apps. Whenever a user feels they are being targeted by fraud, they can press this button to immediately freeze all their banking operations. A senior government official stated that the idea is to have a kill switch in the user's payment app, such as a UPI app or bank app, and as soon as the user presses that button, no bank transactions should be possible.
Efforts to Recover Money After Fraud
The committee is also exploring whether it is possible to identify transactions that may be fraudulent. Also, is there any way to prevent the stolen money from being immediately distributed across multiple mule accounts after a fraud, so that efforts can be made to recover the funds? In digital arrest scams, fraudsters contact people via video calls, posing as police or other law enforcement officials, and claim that the victims are under investigation for serious crimes. They use leaked personal data to enhance their credibility. They often create an atmosphere of fear and urgency and extort large sums of money from victims by showing fake IDs and arrest warrants.
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