Page 47 - The Insurance Times April 2025

on the video call for several hours and was forced to trans- aware citizenry can help thwart such threats through
fer Rs. 4.9 lakh to multiple bank accounts as "bail and veri- timely detection and reporting.
fication charges." It was only after he confided in a friend
that he realized he had been scammed. The incident is now Building a Culture of Cyber Hygiene
under investigation by the Cyber Crime Police Station in
To effectively counter modern cybercrime, it is essential to
Bengaluru.
instill a culture of cyber hygiene:
Two-Factor Authentication: Always enable 2FA for
This case highlights how scammers exploit psychological
emails, banking, and social media accounts.
pressure, fear of law enforcement, and digital tools to trap
victims. The emotional manipulation and professional Don't Share OTPs or Personal Info: No official agency
execution make these scams difficult to detect in the mo- asks for OTPs or bank passwords over the phone or
ment. online.
Verify Caller Identity: Always double-check the creden-
Why Cyber Awareness is the Need of the tials of people claiming to be officials.

Hour Secure Devices: Use antivirus software, update systems
regularly, and avoid using public Wi-Fi for sensitive trans-
The sophistication of cybercrime today leaves no demo-
actions.
graphic untouched-students, professionals, homemakers,
and even senior citizens are all targets. Cyber awareness Report Suspicious Activity: Use government platforms
has become a necessity, not a luxury, for the following rea- like the National Cyber Crime Reporting Portal
sons: (www.cybercrime.gov.in) to report frauds.
1. Increasing Digital Footprint
With most services moving online, individuals share Government and Institutional Role
large volumes of personal data. Without knowledge of Governments and financial institutions must collaborate to
digital hygiene, users unknowingly make themselves create robust frameworks to prevent and respond to
vulnerable. cybercrime:
Awareness Campaigns: Public information campaigns
2. Real-Time Threats in regional languages across TV, radio, and social me-
dia.
Cybercrimes now occur in real-time-fraudsters use live
video, calls, and chats to simulate real-world interac- Stronger Cyber Laws: Regular updates to the Informa-
tions, making it harder for victims to recognize deceit. tion Technology Act and stricter penalties for cyber of-
fenders.
3. Lack of Reporting Real-Time Fraud Tracking: Financial institutions must
Many victims, especially in cases of sextortion or digi- build AI-driven systems to flag suspicious transactions.
tal arrest scams, do not report the crime due to fear,
embarrassment, or social stigma. Awareness can em- Conclusion
power victims to take action.
As technology continues to evolve, so do the methods of
cybercriminals. From deepfakes and phishing to the terrify-
4. Economic Consequences ing new phenomenon of digital arrests, the digital landscape
Cybercrimes lead to direct financial losses and indirect is rife with risks. The Bengaluru case serves as a wake-up
consequences such as identity theft, credit damage, call to individuals and organizations alike. Cyber awareness
and data leaks. Organizations also face reputational loss is the first and most critical line of defense. By promoting
and legal liabilities. digital literacy, enhancing institutional safeguards, and fos-
tering community-level vigilance, we can make the internet
5. National Security Threats a safer place for everyone. In the fight against cybercrime,
Many cybercriminals operate from across borders and knowledge and awareness are the most powerful tools we
are sometimes linked to larger syndicates. A cyber- have.

The Insurance Times April 2025 43