India’s innovative Citizen Financial Cyber Fraud Reporting and Management System (CFCFRMS) has successfully intercepted over ₹600 crore, preventing it from reaching online fraudsters, according to a report by the Financial Action Task Force (FATF). Launched in April 2021, the CFCFRMS, developed by the Indian Cyber Crime Coordination Centre (i4C), enables quick reporting of financial cyber frauds and collaboration among law enforcement agencies and 243 financial entities, including banks, virtual wallets, and e-commerce platforms. The FATF report commends the system as a “good practice” that member countries could adopt to prevent illicit financial flows from cyber frauds. When a victim reports a fraud, details are recorded and submitted to the system, which triggers a coordinated response from financial entities to intercept and recover the funds, instilling confidence in citizens that the government is actively addressing financial crimes. The report also highlights the Enforcement Directorate’s actions against money laundering through shell companies and its efforts in freezing proceeds of crime related to loan apps. Additionally, the FATF recommends that countries should balance measures against terrorist financing with the need to preserve legitimate non-profit organization activities, ensuring actions taken respect the rule of law and minimize negative impacts on innocent beneficiaries.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}