Rising Cyber Frauds against Indian Exporters - A warning from Ministry of External Affairs

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The Ministry of External Affairs has forewarned the Commerce Ministry against the continuous rise in cyber frauds against Indian exporters.

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• The rising cyber frauds has caused rise in bilateral trade disputes.
• Seeing this rise, Director General of foreign Trade had issued guidelines for the exporters so as to save themselves from such frauds.
• It is registered cybercrime all over the country but still once the fraud is done the action cannot be reversed.
• The exporters are at loss from both the sides-they lose their goods and also do not receive the payment.
• DGFT suggested security protocols to be safe and not fall prey to such frauds- sender policy framework, domain keys identified mail and domain-based message authentication reporting & conformance.
• An awareness drive should also run for the exporters so that they can protect themselves from falling into cyber trap.
• The exporters should have strong passwords and they should confirm bank details by another channel such as a secure voice line.

Directorate General of Foreign Trade (DGFT)

The Directorate General of Foreign Trade (DGFT) is the agency of the Ministry of Commerce and Industry of the Government of India responsible for administering laws regarding foreign trade and foreign investment in India. it also provides complete searchable database for all exporters and importers of India.