On Thursday, October 19, Google’s DigiKavach Unveiled for India, a new initiative to tackle online financial fraud, in India.
Google said that as part of this effort, it is researching the strategies and tactics used by con artists and creating countermeasures for new scams.
Google’s DigiKavach Unveiled for India
The company also wants to make the digital ecosystem safer by exchanging information with partners and experts to shield users against malware, fraud, and online scams.
To combat digital lending apps implicated in exploitative practises, Google has collaborated with the Fintech Association for Consumer Empowerment (FACE) in India as a priority flagbearer on the Play Store.
As a priority flagbearer, FACE will help Google find specific lending apps that break Play Store guidelines and take quick corrective action by utilising market data.
The DigiKavach Program’s Objective Is:
Recognising the methods and techniques used by financial fraudsters is an essential first step in combating this type of fraud. The committed staff at DigiKavach is always trying to break through the intricate web of deceptions that con artists have built.
Recognising Fraudsters’ Techniques :
Understanding the methods and techniques used by con artists is the first line of defence in the battle against fraud. The committed staff at DigiKavach is working nonstop to unravel the complex web of deceit that con artists employ. The program’s future efforts will be built on this information.
Getting Insight and Spotting Risks :
DigiKavach uses cutting-edge technology to spot new risks since it has a thorough awareness of fraud tendencies. The programme aims to avert financial losses for people and businesses by identifying these hazards early on. Quick identification is essential to preventing people from becoming victims of scammers.
DigiKavach uses cutting-edge technologies and a thorough grasp of fraud tendencies to spot new threats. The program’s first goal is to identify these hazards in order to stop financial losses for people and organisations.
DigiKavach also understands that fighting financial crime calls for teamwork. Working together with different authorities and organisations is essential to this project.
As a dependable leader, the FinTech Association for Consumer Empowerment (FACE) collaborates with DigiKavach to quickly identify fraud trends and take prompt action against predatory loan applications. Individuals are guaranteed security from dishonest FinTech businesses thanks to this agreement.
An essential partner of DigiKavach is the Cyber Crime Helpline number 1930, which was set up by the Ministry of Home Affairs via the Indian Cyber Crime Coordination Centre (14C). When combined, they efficiently handle any risks by providing those affected by financial fraud with timely information and support.
A significant part is played in this goal by Google, a well-known worldwide leader in technology. By creating security-focused solutions, they support DigiKavach and raise the bar for total digital transaction security.
Google makes the following contributions to the financial ecosystem’s security :
Gmail Phishing Security :
Phishing emails are a common source of financial fraud efforts these days. Almost 99.9% of spam, phishing, and malware are automatically blocked by Google’s email service, Gmail. More than 1.5 billion inboxes are protected by this degree of protection globally, decreasing the possibility that people may fall for phishing schemes.
Google Play Protect :
An all-in-one defence system for Android users is Google Play Protect. Behind the scenes, this service is always keeping Android devices, data, and apps safe. By checking 125 billion installed Android applications for malware each day, it lowers the possibility of downloading phoney apps.
Google Pay Security Alerts :
Google Pay uses artificial intelligence and machine learning to detect fraud threats such as phishing when users transfer or receive money. Thousands of customers receive security alerts from Google Pay every day, which effectively shields them against dubious transactions.
• DigiKavach is working to gather information, identify risks, and analyse how con artists operate.
• The Fintech Association for Consumer Empowerment (FACE) and other members of the larger ecosystem will work together as well.
• Google’s email service, Gmail, automatically filters over 99.9% of viruses, phishing, and spam.