digital security : Minister of State for Electronics and Information Technology Rajiv Chandrasekhar has said that the issue of security in the digital economy is a global challenge and there is a need to work together to deal with it. Addressing the Global Public Digital Infrastructure (DPI) conference held here, Chandrasekhar said that the security of the digital economy is not a domestic issue, nor will selective cooperation work in it.
Fintech has the most cases of cybercrime
The IT minister said a common understanding has to be evolved to develop ways to improve the domestic, legal, technical and economic aspects of security in the digital economy. He said that health-technology, financial-technology, e-commerce, artificial intelligence and internet-based companies now have a lot of sensitive and personal information about consumers. Of these, the highest number of cybercrime cases are reported in financial-technology, while crimes related to health care and social media are followed.
Threat to governments as well as common people
Chandrasekhar said, data breaches, cyber-attacks for ransom and denial-of-service attacks with these companies pose a threat to the governments as well as to the common people. Loss of consumer confidence due to such crimes will ultimately affect digital rejuvenation and economic growth. (with language input)