Cyber frauds have increased rapidly in the country for some time now. Due to this, people have suffered losses worth crores of rupees. Now the government is going to bring new rules to stop cyber fraud. According to reports, the Department of Telecommunications has finalized new cyber security rules for the tech industry. New rules are being brought with the aim of stopping the ever increasing cyber fraud and these will be applicable to all telecom companies including Jio, BSNL and Airtel.
New mobile number validation platform will be launched
Under the new rules, the Department of Telecommunications will develop a new Mobile Number Validation (MNV) platform. On this, it can be verified whether the user whose KYC details are with the telecom company is using the same mobile number. This platform can be launched in the coming few months.
What will be the benefit of this platform?
Through this platform, banks, financial and insurance institutions will be able to verify the customer’s mobile number while opening a new account. As of now, there is no legal mechanism by which the mobile number linked to the bank account can be verified. This is being considered a necessary step in view of the misuse of mobile numbers in cyber fraud.
Concern is being expressed about this matter
Everything is not right about the new rules. Many experts are expressing concern that bringing non-telecom companies under these rules could pose a big threat to user privacy. According to the report of Economic Times, under the new rules, the institutions and companies under the Department of Telecommunications will be integrated with banks and financial institutions. Experts believe that the powers of the Department of Telecommunications extend only to the telecom companies and the firms licensed by them. In such a situation, concern is being raised over including non-telecom firms in the rules.
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