Technology works weirdly. The human mind behind evolving technologies can be all the more weird. When Prime Minister Narendra Modi gave a call to undertake research in areas of technology, innovation and development to further socio-economic progress, there were sneers and jeers, especially from the cynics. Reports appearing in the media seek to underline the significance of reorienting technology and scientific research to further India’s development and economic prosperity.

But, instances of technology-driven frauds have shaken India’s conscience. Mahadev app is one of several fraudulent platforms that allegedly helped some crooks launder money, spread corrupt practices and bankroll political parties. About 22 such apps and websites were either restricted or banned completely by the Indian government recently

Reports quoting Enforcement Directorate documents alleged that Rs508 crore was paid to Chhattisgarh Chief Minister Bhupesh Baghel as kickbacks for facilitating technology-driven betting, allegedly managed and manipulated from Dubai. These funds were to support the campaign of the Indian National Congress that is fighting anti-incumbency in legislative assembly elections.

The brains behind these online betting syndicates, who entice vulnerable people with the promise of big money, should be brought to book. It’s not just betting apps that are wreaking havoc on gullible people as was the case with the Mahadev app that was allegedly operated and managed from Dubai by its promoters. The Enforcement Directorate alleged that the alleged criminals were hand in glove with the Baghel government’s bigwigs and ruling party bosses in the state.

Meanwhile, at a meeting of the Thinkers Forum in Karnataka, Finance Minister Nirmala Sitharaman recently pointed to technology-driven apps that are being used by fraudsters and speculators to manipulate specific stocks and investment instruments, apart from marketing Ponzi schemes.

A recent cash-for-questions scam being investigated by an ethics committee of Parliament also has a similar narrative. The accused Member of Parliament from the Opposition, Trinamool Congress’ Mahua Moitra apparently passed on her official mail login and passwords to corporate houses.

The mail ID of this jet-setting MP was allegedly used by corporate houses to steer Parliamentary discussions on issues that possibly relate to them. Dubai was the destination from where her mail ID was logged in over 45 times by her alleged handlers. A sweep of the servers for this mail ID revealed the way she operated in conjunction with her alleged corporate masters from whom she reportedly received expensive gifts and unlimited hospitality.

The technology-political nexus is being used for illegal activities, and unprecedented advances in language processing models, and robotics have only complicated the world of finance. Fraudsters are running amok gaming AI-propelled processes that govern the world of finance, banking, governments, insurance, pension funds and markets.

UK Prime Minister Rishi Sunak recently said AI has brought with it fears that are unparalleled in the history of human evolution. Apart from large-scale frauds, AI and other cutting-edge technologies have been deployed for cyber attacks and disinformation campaigns.

From simple financial frauds to dictating political conversations, technology has emerged as the biggest threat in the hands of lumpen elements, terror-mongers of every shade, and even religious leaders.

Governments must act soon and regulate new technology like AI that can be misused by criminals and terrorists while ensuring that citizens are protected and the arms of the administration function without hindrance.

– The author is Director and Chief Executive of New Delhi-based non-partisan think tank, Centre for Integrated and Holistic Studies. Views expressed in the above column are his own.