India's cyber security chief Gulshan Rai said he 'rarely' uses internet banking, over concerns of its safety, even as the government is going extra mile to promote digital transactions.
Over 1,700 cases of fraud related to credit/debit card and Internet banking with the extent of losses touching Rs 71.48 crore were reported in 2017.
India's cyber security chief Gulshan Rai said he 'rarely' uses internet banking, over concerns of its safety, even as the government is going extra mile to promote digital transactions.
Speaking at conference chaired by consumer affairs minister Ram Vilas Paswan. Rai stressed on the 'issues' of using internet banking for digital transactions.
Over 1,700 cases of fraud related to credit/debit card and Internet banking with the extent of losses touching Rs 71.48 crore were reported in 2017.
A total of 1,785 cases related to credit/debit card and Internet banking for amounts involving Rs 1 lakh and more were reported last year, Minister of State for Electronics and IT K J Alphons had said in a written reply to Rajya Sabha.
He added that the extent of losses in these cases totalled Rs 71.48 crore.
“There are issues like who is the regulator of digital marketplace? How do we handle the consumer grievances?... Frauds in ATMs and credit cards are very complex and solving them is a bit difficult,” news agency PTI quoted him as saying.
He told the audience how he instead does his digital transactions.
“I have a separate account that keeps small amount in the bank. If I have to do that in a debit card, I put 25,000 in that account and do transaction so that I don’t go to the National Consumer Disputes Redressal Commission,” he said.
Rai's words of advice comes on the backdrop of the government's unceasing efforts to promote digital transactions and diffuse fears over security issues.
At the same conference, consumer affairs minister Ram Vilas Paswan said the government is taking steps to put in place adequate safeguards to keep digital marketplaces fair and secure.
The government is on the right track in enabling the consumers to harness the full benefits of digitization and putting in place adequate safeguards against risks associated with the electronic world, he added.
Since the demonetisation of high value currency in November last year, the government has been pushing for digital payments to move towards a less-cash economy as well as enhance tax base.
According to a report published late last year, the government is even mulling to withdraw the bank cheque book facility in the "near future" to encourage digital transactions, in the light of the nationwide movement of 'Cashless Bano India" in line with the government's vision of digital India.
The government also launched its own E-payment app called 'Bhim' for online transactions.
(Agency from inputs)