The DoT has issued new SIM card guidelines to combat online financial theft. These include dealer verifications, digital KYC updates, and bulk purchase elimination.
New SIM card standards from the Department of Telecommunications (DoT) combat online financial theft. The laws require KYC updates, dealer verifications, and no bulk SIM card purchases.
New SIM card buyers must undertake digital KYC. The KYC reform scans the QR code on the printed AADHAR card to collect demographic data. For SIM replacements, subscribers must complete KYC and limit SMS outgoing and incoming to 24 hours.
The government limits new cellphone numbers to 90 days after disconnection. Additionally, bulk SIM card purchases are prohibited. Businesses can choose business connections, requiring an authorized signatory to submit bulk SIM card purchase documentation.
All cellular carriers must register franchises, PoS agents, and distributors under the amended guidelines. They must be verified and fined Rs. 10 lakh for noncompliance. The new registration process requires a formal agreement with licensees, and existing agents have 12 months to comply.
This measure targets rogue PoS agents who issue SIM cards to antisocial or anti-national groups. The government cautions that unlawful PoS agents would be fired and blacklisted for three years.
Conclusion
The DoT has issued new SIM card guidelines to combat online financial theft. Updated KYC, dealer verifications, and no bulk SIM card sales. New SIM card buyers must provide demographic information in a computerized KYC process. For SIM replacements, subscribers must complete KYC and limit SMS outgoing and incoming to 24 hours. The prior user must disconnect 90 days before receiving a new mobile number. Business connections are available, however bulk SIM card purchases are prohibited. Every telecom operator must register and verify their franchisees, Point-of-Sale agents, and distributors. Noncompliance can cost Rs. 10 lakh. An agreement with licensees is required for PoS agents to register, and existing agents have 12 months to comply.
