'Need for regulatory mechanism for detection of crimes committed through misuse of social media'

There is a need for a regulatory mechanism for detection of crimes committed through misuse of social media, Deputy Commissioner of Police (Delhi) Madhur Verma said.

Speaking at the launch of the seventh edition of the FICCI-Pinkerton 'India Risk Survey 2018', Verma said businesses today, especially those engaged in international operations, have to contend with cyber crimes related to transfer of money through fake e-mails and this throws a huge challenge for the enforcement agencies in detecting the fraud.

"Delhi Police has created a separate cell for dealing with cyber crimes and is trying to create awareness on the nature and the enormity of crimes, especially those channelised through the social media, by reaching out to schools and the community at large," Verma added.

"There is a need for a regulatory mechanism to facilitate access of information for detection of crimes perpetrated through the misuse of social media," Verma said.

Sujeet Samaddar, Senior Consultant (Industry), NITI Aayog, categorised the new age risks as business, economic, legal and compliance and technology related.

Samaddar underlined the need for predictability, credibility and stability of the legal and compliance regimes in order to make businesses viable and sustainable.

The biggest risk to business is to take the business-as-usual approach rather than a transformational and disruptive one, he added.