WITH an increasing number of economic transactions originating from the country going online, the Central Bureau of Investigation (CBI) has put in place a system of 24-hour monitoring and exchange of information on technology-related crimes with other countries. As a starter, the premier investigating agency has tied up with eight other Asian countries for this purpose, official sources said. The move assumes significance because almost the entire financial sector in the country, which includes the capital market as well as the banking and insurance sectors, is online today and online transactions are fast outnumbering off-line transactions. Official sources said that the purpose of this project is to provide access to a secure database on the latest technologies and trends in high-tech crimes and criminals to be shared by the member-countries to combat cyber crimes. The eight member-countries are China, Hong Kong, Indonesia, Korea, Malaysia, the Philippines, Singapore, Thailand and Japan. The system is designed by the member-countries and will function as a virtual private network and is funded by Japan, officials said. Full Story
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