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In the backdrop of an increasing number of financial scams in the digital realm, Technology giant Google India recently announced the launch of the DigiKavach initiative in India.
The digital age, while offering convenience, has also opened doors for fraudsters to exploit online banking and fintech users. Google said DigiKavach is designed as an early threat detection system that will preemptively identify and study these financial fraud patterns.
Decoding methods used by criminals
A significant part of the DigiKavach strategy revolves around understanding the tactics employed by scammers. Google said that its engineers are actively working to decode the methods used by these digital criminals with the aim to anticipate and counteract their moves to safeguard digital users.
Taking technology measures
DigiKavach, apart from its analytical approach, is also banking on technology to detect potential threats. With tools like Gmail's Phishing Protection, which reportedly blocks a vast majority of phishing attempts, and Google Play Protect which scans Android apps for malware, the initiative is making use of existing Google infrastructure to enhance its protective measures, according to Google.
On the other hand, Google Pay is employing machine learning and artificial intelligence to detect potential phishing and fraud risks. By sending out safety alerts to users, Google Pay aims to act as a frontline defence against suspicious transactions.
Partnering with associations
The battle against financial fraud isn't one that Google intends to fight alone. The tech giant said DigiKavach is partnering with entities like the Fintech Association for Consumer Empowerment (FACE) and the Cyber Crime Helpline (1930) to ensure a more holistic approach.
According to Google, The partnership with these institutions aims to pool resources and knowledge to better address and respond to financial scams.
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