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Recent Changes In Aadhaar Security: How Banks Safeguard Your Funds From Fraudsters

To protect against the misuse of Aadhaar data, it's important to lock your biometrics using either the m-Aadhaar app or the Unique Identification Authority of India (UIDAI) website.

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Recent Changes In Aadhaar Security: How Banks Safeguard Your Funds From Fraudsters

Aadhaar-enabled payment system (AePS) transactions require only an Aadhaar number, fingerprint, or iris scan for authentication and the bank's name where the account is held. 

To protect against the misuse of Aadhaar data, it's important to lock your biometrics using either the m-Aadhaar app or the Unique Identification Authority of India (UIDAI) website.

But if someone hasn't secured their biometric information and falls victim to AePS fraud, here's what can be done.

Steps To Consider If You Suspect AePS Fraud:

1. Contact Your Bank's Customer Care: Get in touch with your bank's customer care hotline to report fraudulent transactions. Each bank in India has a dedicated hotline for reporting such incidents. Provide any details about the fraudulent transaction, such as SMS notifications or emails.

2. Block Your Account: If you suspect misuse or fraud, request your bank to block your account to prevent unauthorized transactions temporarily. This step is crucial for ensuring the security of your account. 

Additionally, change your PIN, internet banking password, and other relevant passwords associated with your accounts immediately.

3. Notify Authorities: Report the fraud to your bank and file a police complaint. You should also report the incident on the National Cyber Crime Reporting Portal (https://cybercrime.gov.in/). You have up to 90 days to raise a chargeback (reversal) on the transaction. 

Contact your bank or the bank's customer service helpline for this purpose. It's important to inform the Unique Identification Authority of India (UIDAI) about the AePS fraud incident. You can find UIDAI's contact details here: https://uidai.gov.in/en/contact-support.html

Remember that AePS transactions have daily and amount-specific limits, with a maximum daily limit of Rs 10,000 for up to five transactions/day. 

Therefore, if you suspect an AePS fraud, it is very important to block your bank account for transactions starting from the first unauthorized transaction and not delay.

 

Also Read: Important Update on the GST Amnesty Scheme

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Krishna Gopal Varshney

An editor at Myitronlinenews
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Krishna Gopal Varshney, Founder & CEO of Myitronline Global Services Private Limited at Delhi. A dedicated and tireless Expert Service Provider for the clients seeking tax filing assistance and all other essential requirements associated with Business/Professional establishment. Connect to us and let us give the Best Support to make you a Success. Visit our website for latest Business News and IT Updates.


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