Union Home Minister Amit Shah warned the global community on Thursday about security threats that have developed from "dynamite to metaverse" and "hawala to cryptocurrency", and encouraged G20 countries to go beyond traditional borders to combat such crimes.
Speaking at the inaugural session of the 'G20 Conference on Crime & Security in the age of NFTs, AI & Metaverse', Shah said that technology has transcended conventional boundaries, encompassing geographical, political, and economic realms. However, he raised the alarm about certain anti-social elements and global forces exploiting technology to inflict economic and social harm upon citizens and governments alike.
One of the key concerns addressed by Shah was the exploitation of virtual assets by terrorists for financial transactions. Additionally, he pointed out that terrorists are using the Darknet to mask their identities and propagate radical material. Shah stressed the need to comprehend the activities occurring on the Darknet and adopt a coherent approach to crack down on the use of virtual assets.
Highlighting the severity of cybercrime, Shah mentioned a range of incidents, including ransomware attacks, the sale of critical personal data, online harassment, child abuse, fake news, and misinformation campaigns. These acts are orchestrated by cybercriminals who exploit the vulnerabilities of the digital world.
While discussing the internet vision, Shah advocated for striking a balance between excessive freedom that threatens national security and isolationist structures such as digital firewalls. He emphasised the need to find a middle ground that preserves both security and connectivity.
The Home Minister also drew attention to the evolving methods employed by terrorists to perpetrate violence, radicalise youth, and raise financial resources. He warned that virtual assets have become a new avenue for terrorists to carry out financial transactions.
Shah expressed concerns about the potential misuse of the metaverse by terrorist organisations for propaganda, recruitment, and training purposes. Additionally, he highlighted the dangers of true imitation of a user's identity, including the creation of deep fakes, within the metaverse.
The two-day conference on July 13-14 aims to bring together over 900 participants from G20 countries, nine special invitee countries, international bodies and technology leaders, and domain experts from India and across the world.
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