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RE: MASSIVE Breach Of India's Cashless Database! - Government Tracks Every Transaction

in #money7 years ago

Unique Identification Authority of India (UIDAI) on Wednesday unveiled a fresh layer of security — a 'Virtual ID' to prevent your Aadhaar from being shared — as it sought to address privacy and security concerns.

It also added a safety feature to ensure only need-based sharing of information, by way of a limited KYC, even as it asserted that the system and data were safe.

UIDAI's Virtual ID, which will be issued from March, will allow over 119 crore Aadhaar holders to generate a 16-digit temporary number that can be shared with a bank, insurance company or telecom service provider instead of the 12-digit Aadhaar number. All service providers will have to upgrade their systems to mandatorily allow for the new tool from June. You can opt to use the Virtual ID as many times as you want, or keep generating a new one every time you have to share your unique ID.

"It will not be possible to locate an individual's Aadhaar number by using the Virtual ID," an official said.

The other safety feature introduced relates to limited sharing of information, again aimed at preventing possible misuse and data theft. Instead of the current system where the five details — name, date of birth, photo, address and mobile number — are shared with the service provider at the time of authentication, the new feature will allow only needbased sharing of data. For instance, if you want a new mobile connection, the telco will get only your name, photo and address. For a passport, though, all data may be shared.

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All service providers will have to upgrade their systems to mandatorily allow for the new tool from June

Interesting idea for the infosys, TCS, Wipro, HCL to bag more contracts.

The direct beneficiries will be

  • Oracle / Flexcube
  • Infosys / Finnacle
  • Mindtree - manages the infra
  • Microsoft Licenses

What an idea sirji!

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