PM Modi Urges Telecom Firms, Financial Institutions and Regulators to Stop Fraud at Source

Prime Minister Narendra Modi on Thursday called for a global mechanism to prevent cyberfraud before it reaches citizens, warning that digital fraud has no borders and that deepfakes have emerged as a major challenge. Speaking at the inauguration of the 10th edition of the India Mobile Congress in Delhi, Modi said efforts to tackle cybercrime should focus on preventing fraudulent activity at its source rather than responding only after people have already become victims.

Modi said the scale and cross-border nature of cyberfraud required coordinated action involving different parts of the digital and financial ecosystem. He called for telecom companies, financial institutions and regulators to work together to strengthen mechanisms that can identify and stop fraudulent activity before it reaches users. The Prime Minister's remarks placed emphasis on cooperation between the organisations that operate and regulate digital communication and financial services.

Highlighting the borderless nature of cybercrime, Modi said fraudsters can operate across jurisdictions while targeting citizens through digital platforms and communication networks. This, he suggested, makes it difficult for individual countries or institutions to address the problem in isolation. A global mechanism, according to his call, would help countries and relevant stakeholders coordinate their efforts to prevent fraud and respond to emerging forms of digital deception.

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Modi also identified deepfakes as a major challenge in the digital environment. The technology can be used to create manipulated audio, video or visual material that appears authentic, increasing the difficulty of distinguishing genuine content from fabricated material. His warning came in the context of the broader need for stronger systems to protect citizens from increasingly sophisticated forms of online fraud and deception.

The Prime Minister said the focus should be on stopping fraudulent activity before citizens are targeted rather than relying primarily on action after victims have suffered losses or been deceived. Such an approach would require closer coordination among telecom operators, financial institutions and regulatory authorities, particularly because digital fraud can involve multiple platforms and services during a single transaction or attack.

At the beginning of his address at the India Mobile Congress, Modi also condoled the death of veteran actor Nana Patekar, who died at the age of 75 in Goa earlier on Thursday. The Prime Minister then turned to the wider issue of digital security, using the platform to call for international cooperation against cyberfraud and greater attention to the risks posed by deepfakes. His proposed approach centred on prevention, coordination and action against fraud at its source.

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