Utilizing an Aadhaar card, individuals have the capability to conduct financial transactions involving payments and withdrawals directly from their bank accounts. This method is known as the Aadhaar-enabled payment system (AePS) and relies on the use of an Aadhaar number, fingerprint/IRIS for authentication, and the specific bank where one holds an account.
In recent times, the incidence of AePS scams has seen a sharp increase, leading to a growing number of individuals falling prey to such fraudulent activities.
The scam can lead your bank account to zero balance, without the scope of OTP authentication. You won't even get SMS notification from the bank when your money is getting debited, which makes the scam even worse.
What inputs are required for a customer to do a transaction using AePS? Bank Name
Aadhaar Number
Biometrics captured during enrolment
How AePS fraud works? In these Aadhaar Enabled Payment System frauds, criminals exploit victims' Aadhaar biometric data to withdraw funds from their bank accounts without their consent.
How will you avoid this scam?
Lock Aadhaar Online
1. Visit the UIDAI website: https://resident.uidai.gov.in/ 2. Go to the 'My Aadhaar' tab and select 'Aadhaar services.'
3. Choose 'Aadhaar lock/unlock.' 4. Enter your Aadhaar number or VID. 5. Fill in the CAPTCHA and click 'Send OTP.' 6. Enter the OTP received on your registered mobile number. 7. After entering the four-digit security code displayed on the screen, click 'Enable.' 8. Your biometric information will now be locked and will need to be unlocked when necessary.
Lock Aadhaar Biometrics via the mAadhaar App If you prefer to use the mAadhaar app, here's how you can lock your Aadhaar biometrics: 1. Download the mAadhaar App. 2. Register your Aadhaar number. 3. Enter the OTP and set a four-digit PIN. 4. Access your Aadhaar Profile. 5. Click on the three dots at the top corner of the screen and scroll down. 6. Select 'Lock biometrics.' 7. Enter your four-digit PIN to lock your biometrics.
What to Do if You Fall Victim to this Scam?
Contact Your Bank's Customer Support If you find yourself the victim of a scam, your first course of action should be to get in touch with your bank's customer support. Most banks offer a dedicated helpline for reporting fraudulent activities. Simply dial the hotline number and provide all relevant details you can gather about the fraudulent transaction, such as any related SMS, emails, or other evidence.
Secure Your Account If you suspect that your bank account has been compromised or that fraudulent activity has taken place, it's crucial to request a temporary block on your account to prevent unauthorized transactions. To enhance security, promptly change your PIN, internet banking password, or any other relevant account passwords.
Report the Incident to Authorities In cases of AePS fraud, it's essential to file a police complaint and report the incident to the National Cyber Crime Reporting Portal at https://cybercrime.gov.in/. Victims have a 90-day window to raise a chargeback for the transaction, and they should reach out to their bank or the bank's service helpline for assistance.
Note that AePS transactions have daily and amount-specific limits in place. Presently, a single transaction is limited to Rs 10,000, with a maximum of five transactions allowed per day, totaling up to Rs 50,000. If you suspect any AePS fraud, don't hesitate to block your bank account as soon as you notice the first unauthorized transaction.