Security experts said dependence on social media in the absence of adequate state response will lead to explosive growth in identity thefts and financial losses. In the next few months, we may be facing a wave of cyber frauds. In the fourth category, cybercriminals are using mobile numbers from social media to honey-trap people over video calls to extort money," said Tandon. Identity theft is rampant, and with e-KYC catching up, these publicly available documents can be fodder for cyber frauds," Bhatia said. Both Tandon and Bhatia said with most offices shut and police busy managing covid-related issues, cyber frauds are not getting reported.

Source: Mint May 07, 2021 18:11 UTC