Swiggy, Paytm, OYO, Zomato, others join hands to tackle cybercrimes in India

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In a bid to tackle cybercrimes in India, major startup unicorns such as Swiggy, Paytm, OYO, Zomato, others, have reportedly, come together to address the issue and save customers from such crimes, reported In42, citing a report by TOI.

A week ago, the ace-players in the Indian startup ecosystem, collectively, met the Reserve Bank of India (RBI) representatives and made a joint representation on the issue.

The presentation also addressed the plan on how to curb these online frauds, which are reportedly engineered via fake toll-free numbers and serial bank account generators, the sources revealed.

These companies also shared a database of about 4,000 SIM card numbers and 350-400 bank account numbers with the RBI, State Bank of India (SBI) and the telecom companies.

The tech giants have also reached out to Google about how its search engine is used by cybercriminals to make their fake toll-free numbers appear on top of search results, sources added.

“While we are taking all necessary steps to educate our customers and spread awareness about these phishing attempts this fraud can only be contained with pro-active support, viz timely detection, suspension of accounts and expeditious action by telecom companies, banks, social media platforms and search engines,” said a spokesperson of MakeMyTrip group.

Furthermore, as per the reports, in May 2019, India was reported as the second most cyberattacks affected country from 2016-18. The average cost for a data breach in India has risen 7.9 per cent since 2017, with the average cost per breached record amounting to INR 4,552 ($64), showed reports.

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