Image used for representational purposes
Nov.30: According to Financial Services Secretary Vivek Joshi, the government has suspended 70 lakh mobile numbers due to suspicious transactions in an effort to combat digital fraud.
Following a meeting to address concerns about financial cyber security and the rise in fraudulent digital payments, Joshi stated that banks have been requested to fortify their procedures and system in this area.
He promised to hold more of these meetings, noting that the following one is set for January.
He said states have been tasked with investigating Aadhaar Enabled Payment System (AEPS) fraud and guaranteeing data protection.
Additionally, he mentioned that the standardization of merchant KYC was discussed.
The Financial Services Secretary chaired the meeting, which included discussions on how to guarantee improved agency coordination in the fight against cybercrime.
According to Joshi, in order to prevent credulous consumers from falling for scams, there is a need to raise awareness about cyber fraud in society.
The Indian Cyber Crime Coordination Centre presented the most recent data on digital payment frauds as recorded in the National Cyber Crime Reporting Portal (NCRP) at the meeting. The presentation also covered the difficulties and problems encountered in addressing these issues.
Senior representatives from the Ministry of Electronics and Information Technology (MeitY), the Telecom Regulatory Authority of India, the Department of Economic Affairs, the Department of Revenue, the Department of Telecom, and the National Payments Corporation of India attended the meeting.
