"Misguided" youth should be used ethically to check cyber frauds: Nirmala Sitharaman

Ranchi (Jharkhand) [India], May 9 (ANI): Union Finance Minister Nirmala Sitharaman on Thursday urged the Jharkhand government and fintech companies to channel the "extraordinary misguided talent in the State," that is resorting to cybercrimes into areas such as ethical hacking.
Responding to a question on the rise of online frauds in Jharkhand over the past few years while speaking at an event here, Sitharaman pointed out that financial regulators can highlight how such people can be engaged for ethical practices to combat cyber frauds and that the Government should highlight such potential.
Delivering an address to the Federation of Jharkhand Chamber of Commerce on the theme "Vikshit Bharat 2047" on Thursday in Ranchi, Jharkhand, in an answer to a question, Sitharaman emphasised the importance of using the talent in Jharkhand ethically to combat cyber crime.
She suggested that the state government and fintech companies could harness such people effectively to prevent cyber crimes.
According to data, from 2019 to July 2023, a total of 5,350 cases of cybercrime have been reported in the state. Among these, 1,432 cases were registered in Ranchi district alone. Other districts with high numbers of cybercrime cases include Dhanbad (496 cases), Deoghar (405 cases), Jamshedpur (384 cases), and Hazaribagh (348 cases).
Despite a slight decrease from 2021, Jharkhand reported 967 cybercrime cases in 2022, making it the second highest in the country for cybercrime cases.
Notably, four districts of Jharkhand--Jamtara, Deoghar, Giridih, and Bokaro--are among the top ten in the country for the highest number of cybercrime cases.
Jamtara, in particular, has earned notoriety as the "phishing capital of India," responsible for 2.4 per cent of all cybercrimes in the country. It has also inspired several crime capers on OTT and big screen with plots revolving around it.
In response to the growing threat of cyber crimes, the Jharkhand Police established a Cyber Crime Police Station in March 2016. This station deals with serious and complex cyber crimes and provides technical assistance to all cases it receives.
Sitharaman also addressed the alleged rampant corruption that has hindered Jharkhand's progress, stating that it has blocked the state's development.
The Finance Minister emphasised that the talent of Jharkhand is being wasted due to lawlessness, corruption, and the absence of basic infrastructure such as electricity and roads.
She highlighted the alarming situation of investment flow being halted in the state, as no business entity would invest where lawlessness is at its peak.
Referring to National Crime Records Bureau (NCRB) data, she said, "Investment flow has stopped in the state, no business means will invest in states where lawlessness is at its peak. NCRB data shows 795 businessmen were murdered in 2022."
Despite the challenges, Sitharaman stressed that Jharkhand has the potential to become a manufacturing state, with 40 per cent of the country's minerals found in the state. (ANI)