New Scam Alert: Cybercriminals Exploit AePS to Steal Money from Bank Accounts

GG News Bureau
New Delhi, 17th July. To defraud people online, cybercriminals have found a way to steal money from bank accounts using Aadhaar Card Enabled Payment System (AePS). This system, introduced for public convenience, allows users to withdraw money using Aadhaar card and biometrics, without needing a chequebook or ATM card.

AePS works by authenticating transactions through biometric verification linked to Aadhaar. However, criminals have now adapted to this system by obtaining fingerprints from documents like land allotment papers. With these stolen biometrics and Aadhaar numbers, they can bypass security measures and withdraw funds from victims’ bank accounts.

Law enforcement agencies note a shift in tactics as cybercriminals exploit loopholes in AePS, posing new challenges despite increased vigilance against traditional online scams involving fake links or OTP requests.

To safeguard against this fraud, experts recommend protecting Aadhaar information vigilantly. Users should avoid sharing their Aadhaar number and consider using a Masked Aadhaar or Virtual ID (VID) for transactions that require Aadhaar authentication. Masked Aadhaar hides the Aadhaar number, while VID acts as a temporary ID for authentication purposes.

For enhanced security, individuals can generate a Masked Aadhaar or VID through the UIDAI website, using their Aadhaar number and registered mobile number.