SEBI to crack down on spam, online fraud and loan applications; meeting with regulators around the world tomorrow

The Telecom Regulatory Authority of India (TRAI), in conjunction with the Securities and Exchange Board of India (SEBI), is working with the Department of Consumer Affairs to combat spam, online fraud and loan applications. So far three meetings have taken place and on Wednesday there will be a meeting with regulators from around the world.

Zee Business was the first to launch a campaign against spam, online fraud and loan applications, named #OperationHaftaVasooli. After which it came into discussion and TRAI Chairman PD Vaghela said that spam, online fraud and loan applications have become a big problem for the country. He added that strict measures must be taken to stop this. To this end, discussions are also underway with manufacturers and operators, and work to regulate and control lending applications is also underway.

And since applications and servers are also used in other countries, targeted measures must be taken. On this subject, a meeting will be held on May 18, 2022 with regulators from all over the world to discuss this subject.

The TRAI Chairman also said that the 5G ecosystem will need to be created and it is expected that 5G will be launched on schedule. It is recommended regarding the use, application and formation of 5G networks. Along with this, all ministries were also asked to prepare an action plan, in order to facilitate the use of 5G.

Apart from this, the role of police administration is also important in the case of spam and loan applications, Vaghela said. Discussions are underway on mandatory registration.

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