Need New Strategy To Counter Cybercrime In AI Backdrop, Feels Parliamentary Panel: Sources

India needs a five-year strategy to counter cybercrime as new technological breakthroughs, including artificial intelligence, become part of everyday life. Sources said the Parliamentary Committee on Finance will submit a detailed report on this issue in parliament in the monsoon session.

"The committee believes that in the wake of the fast-evolving technological landscape, including the emergence of new disruptive technologies like AI, it is imperative that a three-to-five-year strategy be formed to put in place effective preventive steps against future attempts at cyberattacks and cybercrimes," sources told NDTV today.    

In May, a report by cybersecurity firm Check Point suggested that the number of cyberattacks in the first quarter of 2023 increased by 7 per cent globally with the emergence of artificial intelligence tools like ChatGPT. Reports say in India, over 1,200 cyberattacks took place in a week -- up by 18 per cent. More than 500 million attacks were blocked in the first three months of 2023.

The committee had a meeting today with senior officials of Paytm, Flipkart, Apple, Punjab National Bank, Bank of India in Parliament to discuss issues related with cybercrimes and cyber security.

Senior officials from Yes Bank, Punjab National Bank, Bank of India and the Indian Computer Emergency Response Team (CERT) were initially called in to make presentations on steps they have initiated to contain cyberattacks and cybercrimes. Later, senior officials of Apple, Flipkart and Paytm also made presentations on this issue, sources said.  

In the three-hour meeting, the committee was told that the number of attempts at cyberattacks have increased manifold. The attacks, though, have not succeeded due to stringent safety measures.   

The meeting also canvassed the question of data safety, especially data collected by e-commerce companies from customers.

Sources said a senior MP raised the issue of whether e-commerce companies have employed adequate mechanism to track and compensate customers who suffer from data breaches.