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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Incidents of fraudsters using fingerprints from publicly available data to bypass biometric scanners have been on the rise.
Last week, the Reserve Bank of India sent out a unique safety warning, unlike its usual alerts about suspicious links or one-time passwords. It said:
“Before using fingerprint for any transaction, ensure no transparent film is on the device. Verify operator’s ID. Ask for receipt of the transaction.”
While unusual, the central bank’s warning seems to suggest that frauds related to fingerprint cloning and biometric misuse are on its radar.
Fingerprints, unique to each individual and hence difficult to artificially recreate, have been largely considered a safe biometric bet. They have been used for identification and signing important paperwork. Recently, …
Lenders stand to gain a lot more than borrowers in the current challenging market environment
The central bank’s shift to a 100% collateral requirement threatens to erode leverage, reduce volumes and force a consolidation across prop desks.
High returns, RBI-regulated comfort, and easy withdrawals drew investors in. Now, with repayments drying up, the fintech platform, its NBFC partner, and the regulator are pointing fingers—leaving customers to chase their own money.
