India teams up with Google and Facebook to combat cryptocurrency scams

India is stepping up its efforts to combat cryptocurrency investment frauds in partnership with tech giants Google and Facebook. According to the Indian Ministry of Home Affairs' 2024 annual report, these scams mainly target vulnerable groups such as unemployed youth, housewives, students and individuals in financial difficulties. The report highlights the global nature of the problem, which also involves large-scale money laundering and cyber slavery. Cyber ​​scammers often abuse Google's advertising services and Facebook's sponsored ads to launch fraudulent apps and malicious phishing schemes. To counter this, the Indian Cyber ​​Crime Coordination Center (I4C) has partnered with these technology platforms to address the growing number of cyber crimes occurring through their services. I4C works closely with Google to flag suspicious digital lending apps, monitor the abuse of Google Firebase domains, and block Android banking service malware. The center also shares a list of phishing advertisers with Google to ensure prompt action. In addition, Google Pay has been integrated into the Citizen Financial Fraud Reporting and Management System (CFCFRMS), enabling authorities to intercept and track fraudulent transactions. The integration saved over Rs 1,600 crore and benefited over 575,000 victims. Similarly, Facebook played a key role in identifying and removing illegal lending apps and scam-related ads flagged by I4C. By sharing intelligence on scam pages and phishing links, I4C ensured that Facebook took swift action to dismantle these operations. These initiatives equip law enforcement agencies with the necessary skills to track blockchain transactions, seize illegal digital assets, and dismantle crypto fraud networks.