India is collaborating with tech giants Google and Meta to combat crypto scams, according to the Ministry of Home Affairs’ annual report. The initiative targets "pig butchering" scams that defraud vulnerable groups. Scammers use social media and search engines to promise high returns on crypto investments, resulting in victims losing $3.6 billion in 2024. The Indian Cyber Crime Coordination Centre (I4C) is working with Google and Meta to flag suspicious activities, block ads, and take down fraudulent content swiftly. Google Pay has been integrated into a system that intercepts fraudulent transactions, saving over 16 billion Indian rupees and benefiting 575,000 victims in 2023. The Ministry is also focused on educating law enforcement on blockchain analysis, rolling out training programs on crypto tracing, and participating in international efforts to combat crypto-related crimes.
- Content Editor ( cryptoslate.com )
- 2025-01-04
India partners with tech giants Google, Meta to curb 'pig butchering' scams