Konda Vishweshwar Reddy reveals biggest challenge in stopping phishing, UPI scams

The Payment Security Summit & Awards India 2025 held in Mumbai uncovered the threats, possibilities and solutions that can be applied to fight the risks of the prevalent cyber crimes in the country.

The Payment Security Summit & Awards India 2025 took place in Mumbai on February 4. It was just last year in 2024 that India became the second most cyber attacked country. There was a loss of Rs 3 lakh crore due to cyber crime in the nation, which recorded 18 lakh plus incidents in a year alone. At a time like this there couldn’t have been better timing for this event that brought together over 350+ experts, senior leaders from cybersecurity, IT, compliance, BFSI, Retail/Ecommerce, Insurance, Travel & Tourism and more, to discuss payment security. The event was attended by the who’s who from the payment security and cybercrime domain and the day was lined up with insightful panel discussions, keynote sessions and workshops.

The Chief Guest Shri Konda Vishweshwar Reddy, MP (Chevelle, Telangana), Engineer and Innovator, spoke at length about the urgency to tackle cyber fraud and protecting financial security in India’s ever evolving digital landscape. In his address, Reddy emphasised on the biggest challenges ailing digital fraud. Highlighting how cybercriminals exploited the surge in digital transactions he said, “Fraudulent calls, UPI scams, phishing attacks, impersonation schemes are great threats that we are dealing with. And one of the most important ways to tackle this is through user awareness. The lack of the information or knowledge is compounding these risks.”

He also spoke about the Government’s initiatives and proactive measures like the launch of the Indian Cyber Crime Coordination Centre (I4C). The dedicated helpline 1930 and the portal cybercrime.gov.in for real-time fraud reporting. There are also mass awareness campaigns under the banner ‘Cyber Surakshit Bharat’ to educate citizens.

Reddy also harped upon the collective responsibility for Cybersecurity and called upon banks, fintech companies, telecom providers and media platforms to join forces in building a cyber-secure India. “The future of India’s digital economy  depends on collective vigilance and proactive measures against cyber fraud.”

During the event, various experts like Lt Gen Dr Rajesh Pant (Chairman of the Cyber Security Association of India) highlighted how technology and cyber crime has penetrated in the tier 2 cities of India as well. He said that there is a need to create awareness and educate people, develop skill and update the cyber laws and policies for 2025 (currently the one made in 2013 is being applied) to deal with these crimes effectively.

Vijayant Gaur, Director General of Cyber Security Association of India revealed how the organisation is preparing for the future by instilling skills to thwart the cyber crime threat amongst individuals from across defence. He also said that like we have the IPS and IAS, we can well see a new administrative service like ICS (Indian Cyber Services) in the near future. The CSAI is also working closely with educational institutions to ensure the young generation is made aware about the virtual threats lurking in our world.