A new initiative called ‘DigiKavach’ has been launched by Google in India, with the aim to prevent financial frauds in the country. The tech giant announced DigiKavach at the ninth edition of its annual Google for India event, held in Delhi.
The fraud-prevention programme is Google ‘doubling down our efforts to protect people against ever-evolving financial scams and fraud,’ the company said.
(1.) As per Google, DigiKavach is an early threat detection and warning system; it is designed to identify and study emerging financial fraud patterns before these cause ‘widespread harm.’
(2.) Under this, its teams will first study the methods and modus operandi of scammers, and follow it up by drawing insights to detect the threats early.
(3.) Finally, the teams will collaborate with collaborate with a ‘wider ecosystem’ to cross-share insights effectively.
(4.) For the initiative, the Mountain View, California-headquartered tech firm is collaborating with the Fintech Association for Consumer Empowerment (FACE); the latter will flag potential threats ‘on priority.’
(5.) The programme is a part of ‘our consistent efforts to combat predatory digital lending apps on Play Store’ in the Asian nation.