AePS frauds using dummy fingers on rise: MHA tells Parliamentary panel
Fraudsters use dummy fingers or rubber fingers to take out money through the Aadhaar-enabled Payment System | Latest News India
Source: hindustantimes.com
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aeps frauds: Aadhaar frauds: RBI ready with masterplan to curb Aadhaar-enabled payment system (AePS) scams
AePS has emerged as one of the most popular payment systems, especially in rural areas in the last few years. At present, 35 commercial banks, 40 rural banks, and 52 cooperative banks offer an Aadhaar-enabled payment system, according to the NPCI website. However, the system has been plagued by issues such as lack of infrastructure and security risks. Currently, there is no two-factor authentication on the Aadhaar-enabled payment system.
Source: indiatimes.com
aeps: NPCI stepping in to stop AePS frauds, suggests ways to banks
The retail payment body which runs AePS wants banks to explicitly seek customer consent regarding this service at the time of account opening.
Source: indiatimes.com