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Heads of around 60 fintech companies, four fintech associations, 23 states police departments, CBI, ED, FIU-India, central government ministries and departments, regulators and other concerned agencies participated in the workshop ....
As companies are no longer confined by national borders, neither are privacy, security or trust concerns, Nami Zarringhalam, cofounder of Truecaller, said at the summit on Saturday. ....
The government has taken action against approximately 1.4 lakh mobile numbers implicated in cyber crime as a measure to curb digital financial frauds. Learn more about the steps taken and the impact of this action. ....
According to bankers, "social engineering" scams that include tricking a customer into disclosing their password or getting it through a SIM swap can also involve OTPs. An authenticator app that needs the user to get a password from another phone app is the most popular substitute for OTP. In addition, service providers have created alternative possibilities, such as tokens inside the mobile application. Although this proves where the communication originated, it still has to rely on mobile phone. ....