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Digital India | Keep your money safe from online frauds

Digital India

online frauds in india

According to the official program websiteThe Digital India programme is a flagship programme of the Government of India with a vision to transform India into a digitally empowered society and knowledge economy. 

It aims to provide digital access to all services such as banking, government departments etc, to the common man. However, there is a big question that must be answered, ARE WE READY?


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PROBLEMS WITH DIGITAL INDIA PROGRAMME

If you ask this question to a common man, their answer would most probably be lack of proper infrastructure.

And I completely agree. India currently lacks the proper infrastructure and backbone to support such a large scale initiative. It will take some time, backed by consistent efforts, to achieve the dream our current Prime Minister has.

However, I don't consider the above problem as the main issue. In my opinion, lack of awareness and education amongst the majority of the population is the major problem that this programme faces. People are not aware how these services will work. What they should keep in mind before they start using these services. 

The Jan Dhan Yojana of the government was a brilliant initiative in my opinion. It gave the poor access to banking services. It also allowed the government to directly transfer subsidy benefits to the bank accounts of the needy.

But is the opening of the Bank Accounts enough?

Is the money in these Bank Accounts safe?







ONLINE SECURITY!

I recently came across an article on the internet. It stated that an individual got scammed and more than 1 lakh rupees was looted from his bank account. It included all his savings and fixed deposits. Whats more disturbing is the fact that he is an educated individual, yet he was tricked.

How?

Because the scammers used the ongoing Digital India programme of linking aadhaar to the mobile number. They made him divulge his sim number on the pretext of linking it to aadhaar card and then duplicated his sim. They were then able to hack into his account and withdraw the money. You can read this article here.


Don't let the article scare you though. You need to link you aadhaar to your mobile and its easy. Read more about it here. And subscribe to the blog so that you get all new updates regarding it in your mail.
You also should get your bank accounts linked to aadhaar as soon as possible. Read more about it here.

It instantly made me realize how ill-informed the people are about these online services and how they can be tricked. 

People currently don't know how to maintain the security of their accounts. And unfortunately, even the government hasn't tried to do anything about it.

Just think about itIf an educated working individual can get scammed, how safe are the people who have just got access to the banking services and have no idea about account security?







SECURITY TIPS YOU SHOULD KNOW!

The best part about Digital India is that all services are now converging to a single identity proof, the Aadhaar Card. This card is what identifies you. Along with it is your mobile number. 

All your bank accounts, email accounts, even your aadhaar account have this number registered. All transactions nowadays require you to enter a one time password or OTP to ensure that it's you who has done the transaction.


Hence it is very important to keep your mobile number safe.

A few things you should always remember:
  • Never, ever share your OTP with anyone. Not even bank executives. No bank official is allowed to ask for your OTP.
  • If you get an OTP message on your mobile for a transaction you haven't done, immediately contact your bank and tell them about it. Don't worry. Until the time OTP is entered, your account will not be debited.
  • Always keep your mobile number safe. Never share your SIM NUMBER with anyone. Not even service providers. And if you lose your phone or it is stolen, immediately get your SIM blocked.
  • Those who use Credit cards / Debit Cards, never share your CVV number and pin number with anyone.
  • In case any unauthorized transaction has occurred from your account, immediately inform the bank and ask them to freeze the account. If it's a debit or credit card, ask the bank to hotlist your card.

IF YOU ARE SCAMMED, WHAT WILL HAPPEN TO YOUR MONEY?






RBI has directed all banks to ensure that no bank customer suffers any loss due to a scam. However, there are conditions that apply.
Bank customers will have to report unauthorized third party transactions within three days. In this case, the Banks will have to credit the amount involved in the customer's account within 10-days.
What It means is that if someone has made a copy of your credit card without your knowledge and has used it for an unauthorized transaction, or hacked into your account, then you will get the entire amount refunded by the bank in 10 days. You will, however, have to report this incident to the bank within 3 days.
If the fraud is reported with a delay of 4-7 working days, a customer will face a maximum liability of up to Rs 10,000 in case of saving bank accounts and up to 25,000 in case of credit card limits of over Rs 5 lakh.
This means that if for some reason you are late to report the incident, you will bear some loss. The actual loss that you bear will depend on the amount you have been scammed of.
If the fraud is reported after seven days, the customer liability will be determined as per the banks Board approved policy. HOWEVER I DONT THINK ANYONE WOULD WAIT THAT LONG.
There is, however, one more thing to keep in mind.
In cases where the loss is due to negligence by the account holder (such as sharing of payment credentials), the customer will bear the entire loss until the unauthorised transaction is reported to the bank. 
You can read the detailed article here.

PARTING THOUGHTS

Digital India programme has just begun. And since the majority of the population isn't aware of the security issues, many such scams and frauds will happen.
Hence, always follow the tips I shared above. It will keep you and your money safe from such scams and frauds.

One's security is in one's own hands!

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digital india, online frauds in india

VIKALP GAUTAM
I am an ardent Techie and a Free Thinker. I love to explore new topics and technologies, and share my knowledge and views with the world.
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