Safeguarding Yourself Against Aadhaar-Enabled Payment System (AEPS) Frauds: A Comprehensive Guide

Empower Yourself with Knowledge: A Comprehensive Guide to Combating AEPS Frauds

By: Javid Amin

The Aadhaar-Enabled Payment System (AEPS) has revolutionized the way we conduct financial transactions, providing a convenient and accessible platform for making payments. However, with the growing popularity of AEPS, there has also been an increase in fraudulent activities. In this comprehensive guide, we will discuss the different types of AEPS frauds, how to identify them, and the steps you can take to safeguard yourself from falling victim to these scams.

Types of AEPS Frauds

There are several types of AEPS frauds that you should be aware of:

• Phishing: Scammers will send you SMS or emails that appear to be from a legitimate organization, such as your bank or the AEPS provider. These messages will often contain links that, when clicked, will take you to a fake website that looks like the real one. Once you enter your personal information on this fake website, the scammers will steal it.

• Smishing: Smishing is a type of phishing scam that uses SMS messages instead of emails. Scammers will typically send you an SMS message that contains a link. When you click on the link, you will be taken to a fake website where you will be asked to enter your personal information.

• Vishing: Vishing is a type of phishing scam that uses voice calls instead of emails or SMS messages. Scammers will typically call you and pretend to be from a legitimate organization. They may ask you to verify your personal information or provide them with your AEPS PIN.

How to Identify AEPS Frauds

There are a few red flags that can help you identify AEPS frauds:

• Unsolicited requests for personal information: If you receive an unsolicited request for your personal information, such as your AEPS PIN or OTP, it is likely a scam. Legitimate organizations will never ask you to provide this information over the phone, SMS, or email.

• Suspicious links: If you receive a link in an SMS or email, do not click on it unless you are sure it is from a legitimate source. You can hover your mouse over the link to see the real URL before clicking on it.

• Poor grammar and spelling: Scammers often use poor grammar and spelling in their messages. This is a sign that the message is likely a scam.

• Sense of urgency: Scammers will often try to create a sense of urgency to pressure you into taking action without thinking. If you receive a message that tells you that you need to take action immediately, be cautious.

Steps to Safeguard Yourself from AEPS Frauds

Here are some steps you can take to safeguard yourself from AEPS frauds:

• Never share your AEPS PIN with anyone: Your AEPS PIN is confidential and should never be shared with anyone, not even bank employees.

• Be careful about clicking on links: Only click on links from sources that you trust. If you are unsure about a link, do not click on it.

• Install antivirus and anti-malware software: Antivirus and anti-malware software can help protect you from phishing scams.

• Keep your software up to date: Software updates often include security patches that can help protect you from scams.

• Be aware of the latest scams: Stay up-to-date on the latest scams by reading news articles and following security blogs.

• Report any suspicious activity: If you suspect that you have been the victim of an AEPS fraud, report it to your bank immediately.

Dos

1. Register Your Mobile Number: Do register your mobile number with your Aadhaar card. Notifications about your AEPS transactions will be sent to this registered number.
2. Keep Information Confidential: Do keep your Aadhaar card and fingerprint data confidential. Do not share your Aadhaar number or fingerprint with anyone you don’t trust.
3. Avoid Unmanned ATMs: Do not use AEPS at unmanned ATMs or micro ATMs. These machines are more susceptible to fraud.
4. Verify Transaction Amount: Do always verify the amount being withdrawn before confirming the transaction.
5. Maintain a Clean Fingerprint Scanner: Do keep your fingerprint scanner clean and free of smudges to ensure accurate scanning.
6. Regularly Check Bank Statements: Do check your bank statement regularly to monitor your AEPS transactions. Report any unauthorized transactions immediately to your bank.
7. Secure Your Aadhaar Card: Do keep your Aadhaar card safe and secure. Do not carry it with you everywhere you go.
8. Stay Aware of Surroundings: Do be aware of your surroundings when using AEPS. Ensure there is no one watching you enter your PIN or fingerprint.
9. Report Suspicious Activity: Do report any suspicious activity to the AEPS operator immediately.
10. Use the Latest AEPS App Version: Do use the latest version of the AEPS app to benefit from the latest security features.

Don’ts

1. Avoid Sharing Aadhaar Information: Don’t share your Aadhaar card number or fingerprint with anyone over the phone or via email.
2. Avoid Unrecognized Transactions: Don’t use AEPS to make payments for transactions that you do not recognize.
3. Limit PIN/Fingerprint Attempts: Don’t enter your PIN or fingerprint more than three times. After three failed attempts, your card will be blocked.
4. Stay Wary of Tampered Machines: Don’t use AEPS if you suspect the machine has been tampered with.
5. Secure Your Aadhaar Card: Don’t leave your Aadhaar card unattended.
6. Be Cautious with Transactions to Strangers: Don’t use AEPS to make payments to strangers.
7. Avoid Suspicious Links: Don’t click on any suspicious links or attachments in emails or SMS messages.
8. Avoid Public Wi-Fi for AEPS: Don’t use AEPS on public Wi-Fi networks as they are not secure.
9. Use Trusted Apps: Don’t install any apps from unknown sources.
10. Maintain Phone Security: Don’t jailbreak or root your phone as it makes your device more vulnerable to malware.

Government Actions Against Fraud

In a separate development, the government has taken measures to suspend 70 lakh mobile numbers linked to fake Aadhaar cards. This action is part of an effort to crack down on fraud and protect individuals’ data.

By adhering to these guidelines, you can significantly reduce the risk of falling victim to AEPS fraud. Stay vigilant, stay informed, and promptly report any suspicious activity to safeguard your financial well-being.