Despite ongoing police efforts to crack down on cybercrime, criminals continue to find new ways to commit fraud. The latest target is fingerprints, and the criminals have found a way to duplicate documents that contain them. Using these duplicates, fraudsters are draining money from bank accounts. The issue appears to be linked to the Aadhaar Enabled Payment System (AEPS), which was approved by the Reserve Bank of India to provide banking services in rural areas. The criminals are taking advantage of loopholes in AEPS, a system that was created to enhance financial accessibility in under-served regions. Authorities are working to close these loopholes and investigate the extent of the problem. Meanwhile, bank customers are urged to take extra precautions with their personal information, including fingerprints, as this new form of fraud spreads.
