India envisages additional measures against growing Aadhaar-enabled payments fraud

The Reserve Bank of India (RBI) is planning additional fraud risk management measures after the Ministry of Home Affairs (MHA) warned recently that Aadhaar-enabled Payment System (AePS) fraud via cloned fingerprints has taken a dangerous upward tick.

In an exchange with Parliament’s standing committee on communications and information technology recently, the ministry said fraudsters were using “dummy fingers or rubber fingers” to illegally withdraw money from AePS accounts, according to Hindustan Times.

AePS is a payments system getting increasingly popular …

aadhaar bank biometric-authentication biometric payments biometrics news communications exchange financial services fingerprints fraud fraud prevention fraud risk management home id for all india india stack information information technology management ministry of home affairs parliament payment payments planning rbi reserve risk risk management system taken technology tick