New Delhi: The government has taken stern action to prevent digital and online fraud, which has increased rapidly in the country. The government has suspended 70 lakh mobile numbers that were involved in suspicious transactions and cheated innocent people through phone calls and messaging.
The Financial Services Secretary Vivek Joshi said on Tuesday that the government has taken this step to protect customers from cyber fraud. He said that the government has also asked the banks to strengthen their systems and processes to prevent digital payment fraud.
Joshi made these remarks after a meeting on issues related to financial cyber security and rising digital payment frauds. The meeting was attended by senior officials of various departments and agencies, such as the Department of Economic Affairs, Department of Revenue, Department of Telecommunications, Ministry of Electronics and Information Technology (MeitY), Telecom Regulatory Authority of India, and National Payments Corporation of India.
The states have been asked to look into the Aadhaar Enabled Payment System Fraud
Joshi said that the meeting also discussed the Aadhaar Enabled Payment System (AEPS) fraud, which is a mode of digital payment that uses the Aadhaar number and biometric authentication. He said that some states have reported cases of AEPS fraud, where the data of the customers was compromised and misused.
He said that the states have been asked to look into the issue and ensure data security. He also said that the meeting discussed the KYC standardization of traders, which is a process of verifying the identity and address of the customers and the merchants.
Joshi said that the meeting also discussed how to ensure better coordination between various agencies to prevent cyber fraud. He said that the Indian Cyber Crime Coordination Center made a presentation on the latest data on digital payment frauds reported in the National Cyber Crime Reporting Portal (NCRP), which is a platform for the public to report cyber crimes. He said that the presentation also highlighted the challenges and issues faced in dealing with such cases.
The public needs to be aware of cyber fraud
Joshi said that there is a need to create awareness about cyber fraud in society to save innocent customers from being cheated. He said that the public needs to be careful and vigilant while using digital payment modes, and avoid sharing their personal and financial information with unknown callers and messages.
He said that the public also needs to report any suspicious or fraudulent transactions to the concerned authorities and the banks. He said that the government is committed to providing a safe and secure digital payment ecosystem in the country.
Joshi said that there will be more such meetings and the next meeting will be held in January. He said that the government will review the progress and the actions taken by the various agencies and banks to prevent and combat cyber fraud. He said that the government will also take feedback and suggestions from the stakeholders and the experts to improve the financial cyber security in the country.
