The UIDAI has stipulated that one cannot open a bank account by furnishing or submitting a physical Aadhaar Card or its photocopy. This is in line with the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, and Reserve Bank of Indian circulars. According to these, a bank, before opening an account, has to follow processes of verification that include biometric data or OTP authentication.
The UIDAI further adds how other diligence processes need to be followed by a bank before an Aadhaar Card can be accepted for banking transactions or KYC.
So, as per the rules, no fraudster can open a bank account with your name using your Aadhaar details without verification through biometric or OTP.
Even if by some loophole in the system, a fraudster is able to open a bank account using your Aadhaar details, the bank will be held responsible for the loss, adds UIDAI.
In an era of digital fraud and hacking, I firmly believe that ‘Prevention is far better than cure”. Simple steps taken in ‘masking’ your Aadhar, which has become THE main document we require today, will surely protect you from such events. Protecting you first is our primary goal.
MIMI PARTHA SARATHY
Sinhasi Consultants Pvt. Ltd.
If this is not enough, a Masked Aadhaar Card could help you secure your details.
The Unique Identification Authority of India (UIDAI) has a feature called 'Masked Aadhaar' in which the 12-digit Aadhaar number will be partially covered, to make it safer. This feature will be beneficial in such cases where you do not want to share your Aadhaar number and the same can be downloaded from UIDAI's website. Masked Aadhaar can be used for e KYC where sharing Aadhaar number is not necessary.
A masked Aadhaar option lets you mask the first 8-digits of your Aadhaar number, while the other 4 digits will be visible. When you download this version of your Aadhaar, your photo, QR code, demographic information, and other details will still be present. This card will be signed by UIDAI; therefore, you do not have to worry about its acceptance or legibility.
This version can be used where you have to provide Aadhaar only as an identity proof. You can provide masked Aadhaar to verify your photo along with the last 4 digits of the unique ID.
“The masked Aadhaar is available to 122 crore people as it can be downloaded by the Aadhaar holder from our website or at any Aadhaar centre. This is privacy-proof, digitally signed and cannot be manipulated. For people who do not want to share date of birth, there is the option to mask even that,”
Ajay Bhushan Pandey Chief Executive Officer, UIDAI
STEP 1: Visit the official UIDAI website at https://uidai.gov.in/.
STEP 2: Select the option ‘Download Aadhaar’ under ‘My Aadhaar’ tab.
STEP 3: Follow one of the following methods to download your masked Aadhaar. The first two methods are only for residents of India.
Method 1: Aadhaar Number
If you already have an Aadhaar card, enter the 12-digit Aadhaar number along with your full name and pin code on the portal.
Method 2: Enrolment Number
Use the 28-digit enrolment number along with your full name and pin code to download the card.
Method 3: Virtual ID
You can enter the 16-digit Virtual ID on the portal to download the masked Aadhaar.
STEP 4: Check the box with the label ‘I want a masked Aadhaar?’ to choose masked Aadhaar.
STEP 5: Click on the ‘Send OTP’ button. An OTP will be sent to your registered mobile number.
STEP 6: Enter this OTP on the portal to access your masked Aadhaar.
STEP 7: Alternatively, you can click on the ‘Enter TOTP’ button to use the time-bound OTP (TOTP) generated from mAadhaar app.
STEP 8: Your masked Aadhaar will be downloaded.
It is recommended to download your masked Aadhaar and keep it handy. You can use it whenever a need arises rather than allowing the private details of the Aadhaar card to be viewed for fraudsters to make use of.
BE CAREFUL. BE WARY. BE SAFE.
We urge you to have conversations with our financial planners. They are in the best objective position to help you understand and mitigate the risk of letting emotions get the better of you
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