Due to questionable transactions, the Indian government has suspended 70 lakh mobile numbers and plans more financial cybersecurity briefings. To tackle digital fraud, the government is revamping its Do Not Disturb app and regulating SIM card sales.
The central government suspended 70 Lakh cellphone numbers for questionable transactions to combat digital fraud. Financial services secretary Vivek Joshi advised banks to enhance their systems to combat rising digital payment fraud.
The government will hold additional financial cybersecurity discussions in January. Joshi also urged governments to investigate Aadhaar Enabled Payment System (AEPS) fraud and secure data.
Representatives from the Department of Economic Affairs, Department of Revenue, Department of Telecom, Ministry of Electronics and Information Technology (MeitY), Telecom Regulatory Authority of India, and National Payments Corporation of India are meeting to discuss financial cyber security.
The Telecom Regulatory Authority of India (TRAI) is also revising its DND app. Combating spam calls and messages is the purpose. The revised DND app will work on all devices by March 2024, making spam call reporting easier.
The Department of Telecommunications also issued new SIM card sales restrictions. Prevention of fraudulent SIM scams is the goal. On December 1, these restrictions will be nationwide to reduce scams. The administration delayed implementing these regulations by two months from October 1st.
Conclusion
Due to questionable transactions, the Indian government has suspended 70 lakh mobile numbers and is organizing more financial cybersecurity briefings. Financial services secretary Vivek Joshi advised banks to strengthen digital payment fraud prevention systems. The administration is also discussing financial cyber security with several departments. TRAI is revamping its Do Not Disturb (DND) app to combat spam calls and SMS. The revised software will work on all smartphones by March 2024. To combat bogus SIM scams, the Department of Telecommunications is regulating SIM card sales. Scammers will face new laws countrywide on December 1. Originally scheduled for October 1, these restrictions were delayed two months.
