October 7, 2022

Now it will be easier to avoid bank fraud, the government is going to change the law

The central government is making extensive preparations to avoid major banking and cyber frauds in the coming days. For this many types of laws are being changed.

The central government is making extensive preparations to avoid major banking and cyber frauds in the coming days.

The central government is making extensive preparations to avoid major banking and cyber frauds in the coming days. For this many types of laws are being changed. Union Telecom and IT Minister Ashwini Vaishnab said that the new Telecom Bill 2022 has made many provisions to save the common man from banking frauds.

Find out who is calling

Ashwini Vaishnav said, usually when someone calls, we don’t know who is calling. In the coming days, the central government is asking telecom companies to introduce a system to know who is calling you. Currently, such information is available through many types of apps. However, this alternative arrangement will be made official in the coming days.

Changes in KYC rules

Know Your Account or KYC in English is a system that requires everyone to provide information about their account to the service provider. KYC process is being strengthened. Strict legal action will be taken against anyone providing any misleading or wrong information.

Severe punishment for cheating

Ashwini Vaishnav said there are places in the country that have become notorious for banking fraud. For this the chain of the whole system has to be broken. The new telecom bill will go a long way to break that chain. Apart from this, strict action will be taken if anyone is caught committing such fraud. At present, the punishment for anyone caught under the Cyber ​​Act is only three years. There is a provision for further enhancement of this penalty.

Social media sites are also under siege

Ashwini Vaishnav said that apps like Facebook, WhatsApp and Telegram will also be part of the new Telecommunication Bill 2022. OTT platforms will also come under the regulator. He said that reconciliation is going on in this regard.

What will the new license process look like?

Ashwini Vaishnav said that licensing for telecom services, registration for telecom infrastructure, approval of wireless equipment and (bidding) for spectrum have to be followed.

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One job instead of three

Ashwini Vaishnav said that the draft Indian Telecom Bill 2022 will now replace the old Indian Telegraph Act 1885, Wireless Telegraph Act and Telegraph Wires Act. The new draft bill has been uploaded on the website for public opinion. It is possible to pass it in the Parliament next year after all technical processes are completed.

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