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Transaction of cash over technological means is music to cyber criminals. The cyber underworld by and large hinges on this.
.The ambitious cash transfer scheme introduced by the Union Government recently would soon be a new target for attack by e-fraudsters. Lack of bandwidth, too, could pose glitches such as denial of service.
Though the scope of attack seems to be limited for now as the cash transfers would happen directly into the bank accounts, experts see a danger as vast majority of the users are first-time users of bank accounts. Mobile banking transactions could lead to pilferages.
Mode of access
“Cash transfer scheme is a good scheme. But the worrying factor is the mode of access. In case, debit cards are provided for the back accounts opened by the beneficiary of this scheme, then the Government will have to ensure proper checks are deployed to avert card related frauds,” Govind Rammurthy, Managing Director and Chief Executive Officer of eScan Microworld, told Business Line. Debasis Nayak, Director of Data64 Technosolutions Private Ltd , felt the probability of frauds happening in such schemes is very high at the origin and at end points, where there is human interface with technology.
“The beneficiaries list with the Government is crucial in such a scheme. Fraud may happen at the enrolment process itself where people who should not be entitled to the subsidies are able to fraudulently register for the scheme,” he said.
Finger print match
After the amount of subsidies credited to respective beneficiaries, the payment by the system is allowed only when the finger prints matches with those captured during account opening.
“As finger prints are the unique identity and cannot be replaced or hacked, so there is no possibilities of hacking by e-criminals, Jitender Singh, founder and Chief Executive Officer of Starfin, said. FINO PayTech Ltd says Business Correspondents (BC), who play a major role in the transfers, need to be cautious about identifying the right beneficiary.
“They should ensure that no beneficiary is denied service. Sometimes, a BC may face low connectivity issues and finger prints may not be recognised. There is a need to create awareness around denial of service to beneficiaries,” Mario Roche, Vice-President, FINO Paytech that is involved in identifying the beneficiaries in some States.
>kurmanath.kanchi@thehindu.co.in
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