> Ladakh Police, RBI step up anti-fraud strategy amid rise in Digital Financial crimes
LEH: Stressing that cyber-enabled financial crimes are becoming increasingly sophisticated, Director General of Police (DGP), Ladakh, Anand Jain (IPS) on Thursday called for continuous capacity building of police personnel and stronger coordination among law enforcement agencies, financial regulators and banking institutions to effectively investigate and curb digital frauds and investment scams.
The DGP was delivering the inaugural address at a Police Sensitisation Programme on Financial Frauds, Cyber Crime and Investor Protection, organised by the Reserve Bank of India (RBI) at the Police Headquarters in Leh. The day-long programme brought together officials from the RBI, the Securities and Exchange Board of India, Ladakh Police and the Law Department to strengthen the investigative capabilities of police officers dealing with financial and cyber-enabled crimes.
Highlighting the rapidly evolving nature of cybercrime, Jain said that digital payment frauds, online financial scams and fraudulent investment schemes have emerged as major challenges requiring specialised knowledge and coordinated action. He emphasised that law enforcement agencies must remain equipped with the latest investigative tools and legal understanding to respond effectively to these emerging threats.
The DGP underlined that continuous training of police personnel is essential to keep pace with technological advancements being exploited by cybercriminals. He also stressed the need for closer collaboration between regulatory authorities, financial institutions and police agencies to ensure timely investigation, effective prosecution and enhanced protection of citizens from financial fraud.
The programme began with a welcome address by the Deputy General Manager, RBI, Jammu, who highlighted the importance of close coordination between financial regulators and law enforcement agencies in safeguarding the integrity of the financial ecosystem.
During the technical sessions, RBI officials provided detailed insights into the regulatory framework governing Non-Banking Financial Companies (NBFCs), common financial frauds, preventive measures, counterfeit currency detection and security features of genuine Indian currency notes.
A practical session conducted by Inspector Tashi Targais of Police Headquarters, Ladakh, focused on investigating cyber-enabled financial frauds, including digital evidence collection, investigation techniques, inter-agency coordination and best practices for handling cybercrime cases involving NBFCs and other financial entities.
Representing SEBI, Hari Om Anand delivered a session on investor protection, highlighting regulatory safeguards, emerging online investment scams and the importance of financial literacy in preventing fraud.
The legal dimension of financial crime investigations was addressed by Assistant Law Officer Ali Shah, who explained the provisions of the Banning of Unregulated Deposit Schemes (BUDS) Act, 2019, along with relevant provisions of the Bharatiya Nyaya Sanhita (BNS), 2023, Bharatiya Nagarik Suraksha Sanhita (BNSS), 2023, and Bharatiya Sakshya Adhiniyam (BSA), 2023 applicable to financial fraud investigations and prosecutions.
The programme concluded with a collective commitment by Ladakh Police, RBI, SEBI and other participating institutions to strengthen inter-agency cooperation, enhance investigative capabilities and expand public awareness initiatives to combat cybercrime, counterfeit currency, financial frauds and online investment scams more effectively.
The sensitisation programme also served as a platform for knowledge sharing between financial regulators, legal experts and law enforcement agencies, equipping police officers with updated legal, regulatory and investigative skills to tackle the growing challenges posed by technology-driven financial crimes.
