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AEPS Based Frauds



What is AEPS?

Aadhar Enabled Payment System, a product of NPCI is a payment system which enables the users to withdraw money and carry out few other basic banking transactions from ATM’s and POS machines. Aadhaar number, and Fingerprint are required to carry out such transactions. The facility is available to customers since November 2010. As a safety limit AEPS has a withdrawal limit of only Rs. 10,000, up to 4 times in 24 hours. This service was developed for ease of rural people who might not be so tech literate to keep up with Digital India campaign.


Point of Concern


Recently many people have been reporting unauthorised transactions in their bank accounts via AEPS. People are getting dupped of their hard-earned money via this scam. This has caused major cause and safety concerns and displeasure between the masses and sensitive information getting leaked is what is enabling such scams to take place.



Ways to Secure Yourself


· Whenever you are being asked for any kind of ID from anyone besides Government, refrain from giving your Aadhar card and for that matter PAN Card as well. This will keep your sensitive data safe. I personally prefer using my Drivers License or Voter ID in such cases.


· If such an organizations or individual are compulsorily asking for Aadhar Card you can use your Masked Aadhar (Mask Aadhaar option allows you to mask your Aadhaar number in your downloaded Aadhaar.) which can be downloaded from UIDAI website and is at par with your real Aadhar hence it is liable to be accepted.


Image Source: Paise Bazaar

· Enabling Biometric Lock should be the foremost thing once shall do to secure their accounts. To do the following -

Ø Install mAadhaar App from Playstore/ Appstore.

Ø Sign in with your Aadhaar details

Ø Go to My Aadhaar Option

Ø Turn on Biometrics Lock


Image Source: Forward Media House

What if I was duped?


If you have become a victim to this kind of Fraud here are a list of things you can do.

Ø Call 1930 National Cyber Crime Reporting Portal Helpline. Do is as soon as possible, informing in the first hour (known as the Golden hour) is best as that ensures maximum chances of getting your money back.

Ø Submitting a report at https://cybercrime.gov.in/ which is the National Cyber Crime Reporting Portal

Ø Filling an complaint with the local Cyber Crime Police Station.


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