šØĀ fraud alert: how banks and upi apps are fighting cybercrime
With cyber fraud and identity theft rising sharply, banks and upi apps are taking proactive measures to protect usersā money and data. The latest initiative is the mobile number validation (mnv) platform introduced by the department of telecommunications (dot).
šĀ 1. What is the mobile number validation (mnv) platform?
Mnv is a new platform to verify mobile numbers in real-time
Ensures that bank accounts and upi ids are linked to verified mobile numbers only
Aims to reduce frauds caused by sim swapping, phishing, or identity theft
This system is designed to strengthen wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital security for all financial transactions.
š”Ā 2. How it helps prevent fraud
Only validated numbers can be used for banking or upi transactions
Reduces chances of unauthorized access to accounts
Helps banks flag suspicious transactions linked to unverified numbers
Improves overall trust in wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital payments
š¦Ā 3. Benefits for users
Increased safety while making online payments
Reduced risk of losing money to hackers or fraudsters
Easier tracking and reporting of suspicious activity
Assurance that upi and banking apps are using secure numbers
ā”Ā 4. What users need to do
Ensure that your mobile number is linked with your bank account
Complete the kyc (know your customer) process if not already done
Avoid sharing otp, pin, or upi credentials with anyone
Regularly monitor bank and upi app notifications for unusual activity
Following these steps will ensure maximum protection under the mnv system.
šĀ 5. Key takeaway
The mobile number validation platform is a major step forward in combating wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital fraud. By linking validated mobile numbers to banking and upi apps, users gain enhanced security, safer transactions, and peace of mind.
Disclaimer:
The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the readerās own risk..jpg)
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