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Introduction

Cyber financial offences in India have experienced an alarming surge both in terms of frequency and complexity. Be it phishing attacks or organised fraud syndicates, the nation has been facing a spurt in online financial threats, which leave the victims at their mercy because of procedural lags on the part of law enforcement agencies. To counter this, the Government of India has stepped up measures to create a Cyber-Secure Bharat, focusing on speedy resolution, accountability, and digital empowerment. A key move in this direction is the introduction of the e-Zero FIR initiative, brought forth by the Ministry of Home Affairs (MHA) with Union Home Minister Amit Shah at the helm. This newly developed digital-first system is expected to revolutionise the way cyber financial crimes, particularly those that result in high monetary losses, are handled and investigated.

What Is the e-Zero FIR Initiative?

The e-Zero FIR program is a technology-based platform that enables the automated registration of Zero FIRs for value cyber financial crimes. Led by the Indian Cybercrime Coordination Centre (I4C), Ministry of Home Affairs, the programme is now piloted in Delhi and aims to fill a pressing lacuna: the time lag involved in transitioning cybercrime complaints to First Information Reports (FIRs).

Complaints of financial frauds worth more than ₹10 lakh, reported through the National Cybercrime Reporting Portal (NCRP) or helpline number 1930, will be automatically turned into e-Zero FIRs under this scheme. Such electronic FIRs are directed to the e-Crime Police Station in Delhi, regardless of jurisdiction, and then relayed to the corresponding territorial cybercrime unit. Complainants can visit the cybercrime Police Station within 3 days and get the Zero FIR converted into a regular FIR.

Key Features of the Initiative

1. Pilot Implementation in Delhi

Launched as a pilot project in Delhi, it will later serve as the first use case for the national rollout. The success of the pilot will determine its implementation in other states and Union Territories.

2. Seamless Digital Integration

The project provides strong back-end integration between:

• NCRP (National Cybercrime Reporting Portal)
• e-FIR System (Delhi Police)
• CCTNS (Crime and Criminal Tracking Network & Systems – NCRB)

This integrated model enables complaints to pass smoothly between platforms and agencies.

3. Zero FIR Auto-Registration and Routing

Now, for complaints lodged through 1930 or the National Cyber Crime Reporting Portal related to financial losses exceeding the threshold of ₹10 lakh, the system will automatically register a Zero FIR to the e-Crime Police Station of Delhi and then route it to the concerned territorial cybercrime police station, triggering immediate case processing.

4. Victim-Centric Conversion Mechanism

Complainants are given 3 days from the time of filing to physically report to the police station and transform the e-Zero FIR into a conventional regular FIR under Section 173 (1) and 1(ii) of the newly enacted Bhartiya Nagrik Suraksha Sanhita (BNSS). This ensures legal redress is quicker and easier.

Impact and Significance: The CyberPeace View

The e-Zero FIR system is a significant change in India's cybercrime enforcement, offering quicker response times and improved recovery opportunities. Cyber fraud reported within the "golden hour" can boost recovery levels of financial fraud. The system also eliminates jurisdictional barriers and procedural bottlenecks, making it more victim-friendly. Union Home Minister Amit Shah emphasised the initiative's alignment with Prime Minister Narendra Modi's vision of a digitally resilient India. The system is a scalable national model of tech-based policing supported by organised digital workflows. The initiative allows for real-time analysis of fraud graphs and detection of fraud syndicates through identification and device-based clustering. This is a step towards more automated, context-aware cyber policing, focusing on AI, identity graphs, and velocity to prevent crimes. The system is a step towards a next-generation cyber law enforcement strategy, focusing on AI, identity graphs, and velocity.

Conclusion

The roll-out of the e-Zero FIR program is a turning point in India's battle against cybercrime. By marrying automation with inter-agency coordination and easy-to-use mechanisms, the government has eradicated one of the major stumbling blocks for victims, the delay in taking legal action. Though its pilot phase targets high-value financial frauds in Delhi, its potential for having a countrywide impact is vast. With digital transactions on the upswing and frauds getting more cunning, efforts like these are the key to making a safe, responsive, and victim-centric cyber environment. CyberPeace commends and welcomes this important move towards establishing a Cyber-Secure Bharat, wherein all citizens can make digital transactions with confidence.

References

• https://www.pib.gov.in/PressReleasePage.aspx?PRID=2129715
• https://www.mha.gov.in/en
• https://cybercrime.gov.in/
• https://www.ncrb.gov.in/
• https://economictimes.indiatimes.com/wealth/save/new-e-zero-fir-govt-launches-pilot-for-swift-action-against-cybercrimes-how-it-can-help-you/articleshow/121314437.cms?from=mdr

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Introduction

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Purchasing online currencies through one of the numerous sizable digital marketplaces designed specifically for this purpose is the simplest method. The quantity of cryptocurrency and money paid. These online marketplaces impose an exchange fee. After being obtained, digital cash is stored in a digital wallet and can be used in the metaverse or as real money to make purchases of goods and services in the real world. Blockchain ensures the security and decentralisation of each exchange. 

Its worth and application are comparable to those of gold: when a large number of investors choose this valuable asset, its value increases and vice versa. This also applies to cryptocurrencies, which explains why they have become so popular in recent years. The metaphysical realm is an online space where users can communicate with one another via virtual personas, among other features. Furthermore, money and commerce always come up when people communicate. 

Web3 is welcoming the metaverse, and in an environment where conventional currency isn't functional, its technologies are making it possible to use cryptocurrencies. Non-Fungible Tokens (NFTs) can be used to monitor intellectual rights to ownership in the metaverse, while cryptocurrencies are used to pay for content and incentivise consumers. This write-up addresses what the metaverse crypto is. It also delves into the advantages, disadvantages, and applications of crypto in this context. 

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Convergence of Metaverse and Cryptocurrency

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As the main form of digital money in the Metaverse, digital currencies can be used to do business and exchange in the digital realm. The term "metaverse" describes a simulation of reality where users can communicate in real time with other users and an environment created by computers. The acquisition and exchange of virtual products, virtual possessions, and electronic creativity within the Metaverse can all be made possible via cryptocurrency. 

Many digital currencies are based on blockchain software, which can offer an accessible and safe way to confirm payments and manage digital currencies in the Metaverse. By giving consumers vouchers or other electronic currencies in exchange for their accomplishments or contributions, cryptocurrency might encourage consumer engagement and involvement in the Metaverse.

In the Metaverse, cryptocurrency can also facilitate portable connectivity, enabling users to move commodities and their worth between various virtual settings and platforms.

The idea of fragmentation in the Metaverse, where participants have more ownership and control over their virtual worlds, is consistent with the decentralised characteristics of cryptocurrencies.

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Advantages of Metaverse Cryptocurrency

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There are countless opportunities for creativity and discovery in the metaverse. Because the blockchain is accessible to everyone, unchangeable, and password-protected, metaverse-centric cryptocurrencies offer greater safety and adaptability than cash. Crypto will be crucial to the evolution of the metaverse as it keeps growing and more individuals show interest in using it. Here are a few of the variables influencing the growth of this new virtual environment.

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Safety

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Your Bitcoin wallet is intimately linked to your personal information, progress, and metaverse possessions. Additionally, if your digital currency wallet is compromised, especially if your account credentials are weak, public, or connected to your real-world identity, cybercriminals may try to steal your money or personal data. 

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Adaptability

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Digital assets can be accessed and exchanged worldwide due to cryptocurrencies’ ability to transcend national borders. By utilising a local cryptocurrency, many metaverse platforms streamline transactions and eliminate the need for frequent currency conversions between various digital or fiat currencies. Another advantage of using autonomous contract languages is for metaverse cryptos. When consumers make transactions within the network, applications do away with the need for administrative middlemen.

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Objectivity

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By exposing interactions in a publicly accessible distributed database, the use of blockchain improves accountability. It is more difficult for dishonest people to raise the cost of digital goods and land since Bitcoin transactions are public. Metaverse cryptocurrencies are frequently employed to control project modifications. The outcomes of these legislative elections are made public using digital contracts. 

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NFT, Virtual worlds, and Digital currencies  

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Using the NFT is an additional method of using Bitcoin for metaverse transactions. These are distinct electronic documents that have significant potential value.  

A creator must convert an electronic work of art into a virtual object or virtual world if they want to display it digitally in the metaverse. Artists produce one-of-a-kind, serialised pieces that are given an NFT that may be acquired through Bitcoin payments. 

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Applications of Metaverse Cryptography

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Fiat money or independent virtual currencies like Robux are used by Web 2 metaverse initiatives to pay for goods, real estate, and services. Fiat lacked the adaptability of cryptocurrencies with automated contract capabilities, even though it may be used to pay for goods and finance the creation of projects. Users can stake these within the network virtual currencies to administer distributed metaverses, and they have all the same functions as fiat currency.

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Banking operations

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Lending digital cash to purchase metaverse land is possible. Banks that have already made inroads into the metaverse include HSBC and JPMorgan, both of which possess virtual real estate. "We are making our foray into the metaverse, allowing us to create innovative brand experiences for both new and existing customers," said Suresh Balaji, chief marketing officer for HSBC in Asia-Pacific.

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Purchasing

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An increasingly important aspect of the metaverse is online commerce. Users can interact with real-world brands, tour simulated malls, and try on virtual apparel for their characters. Adidas, for instance, debuted an NFT line in 2021 that included customizable peripherals for the Sandbox. Buyers of NFTs crossed the line separating the virtual universe and the actual world to obtain the tangible goods associated with their NFTs.

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Authority

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Metaverse initiatives are frequently governed by cryptocurrency. Decentraland, a well-known Ethereum-based metaverse featuring virtual reality components, permits users to submit and vote on suggestions provided they own specific tokens.

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Conclusion

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The combination of the virtual world and cryptocurrencies creates novel opportunities for trade, innovation, and communication. The benefits of using the blockchain system are increased objectivity, safety, and flexibility. By facilitating exclusive ownership of digital assets, NFTs enhance metaverse immersion even more. In the metaverse, cryptocurrencies are used in banking, shopping, and government, forming a user-driven, autonomous digital world. The combination of cryptocurrencies and the metaverse will revolutionise how we interact with online activities, creating a dynamic environment that presents both opportunities and difficulties.

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References

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• https://www.telefonica.com/en/communication-room/blog/metaverse-and-cryptocurrencies-what-is-their-relationship/
• https://hedera.com/learning/metaverse/metaverse-crypto
• https://www.linkedin.com/pulse/unleashing-power-connection-between-cryptocurrency-ai-amit-chandra/

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Introduction

MEITY’s Indian Computer Emergency Response Team (CERT-In) in collaboration with SISA, a global leader in forensics-driven cyber security company, launched the ‘Certified Security Professional for Artificial Intelligence’ (CSPAI) program on 23rd September. This initiative marks the first of its kind ANAB-accredited AI security certification. The CSPAI also complements global AI governance efforts. International efforts like the OECD AI Principles and the European Union's AI Act, which aim to regulate AI technologies to ensure fairness, transparency, and accountability in AI systems are the sounding board for this initiative.

About the Initiative

The Certified Security Professional for Artificial Intelligence (CSPAI) is the world’s first ANAB-accredited certification program that focuses on Cyber Security for AI. The collaboration between CERT-In and SISA plays a pivotal role in shaping AI security policies. Such partnerships between the public and private players bridge the gap between government regulatory needs and the technological expertise of private players, creating comprehensive and enforceable AI security policies. The CSPAI has been specifically designed to integrate AI and GenAI into business applications while aligning security measures to meet the unique challenges that AI systems pose. The program emphasises the strategic application of Generative AI and Large Language Models in future AI deployments. It also highlights the significant advantages of integrating LLMs into business applications. 

The program is tailored for security professionals to understand the do’s and don’ts of AI integration into business applications, with a comprehensive focus on sustainable practices for securing AI-based applications. This is achieved through comprehensive risk identification and assessment frameworks recommended by ISO and NIST. The program also emphasises continuous assessment and conformance to AI laws across various nations, ensuring that AI applications adhere to standards for trustworthy and ethical AI practices.

Aim of the Initiative

As AI technology integrates itself to become an intrinsic part of business operations, a growing need for AI security expertise across industries is visible. Keeping this thought in the focal point, the accreditation program has been created to equip professionals with the knowledge and tools to secure AI systems. The CSPAI program aims to make a safer digital future while creating an environment that fosters innovation and responsibility in the evolving cybersecurity landscape focusing on Generative AI (GenAI) and Large Language Models (LLMs).

Conclusion

This Public-Private Partnership between the CERT-In and SISA, which led to the creation of the  Certified Security Professional for Artificial Intelligence (CSPAI) represents a groundbreaking initiative towards AI and its responsible usage. CSPAI can be seen as an initiative addressing the growing demand for cybersecurity expertise in AI technologies. As AI becomes more embedded in business operations, the program aims to equip security professionals with the knowledge to assess, manage, and mitigate risks associated with AI applications. CSPAI as a programme aims to promote trustworthy and ethical AI usage by aligning with frameworks from ISO and NIST and ensuring adherence to AI laws globally. The approach is a significant step towards creating a safer digital ecosystem while fostering responsible AI innovation. This certification will significantly impact the healthcare, finance, and defence sectors, where AI is rapidly becoming indispensable. By ensuring that AI applications meet the requirements of security and ethical standards in these sectors, CSPAI can help build public trust and encourage broader AI adoption.

References

• https://pib.gov.in/PressReleasePage.aspx?PRID=2057868 
• https://www.sisainfosec.com/training/payment-data-security-programs/cspai/ 
• https://timesofindia.indiatimes.com/business/india-business/cert-in-and-sisa-launch-ai-security-certification-program-to-integrate-ai-into-business-applications/articleshow/113622067.cms 

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