KYC VERIFICATION ONLINE GAMING
Australia is pushing big tech to 'protect kids from porn'. What can they actually do?
Tech platforms are urged to implement integrated safety features like content scanning and app blocking on smartphones to protect children online. The focus is on enhancing child safety without compromising user privacy, highlighting the need for effective content classifiers in online protection measures.
Australia gives internet firms 6 months to draft online child safety rules
The eSafety Commissioner requested online industry members to submit a plan by October 3 outlining measures to shield minors from encountering high-impact content prematurely, covering themes such as suicide and eating disorders. The code should establish criteria for app stores, websites (including pornography and dating sites), social media platforms, and multiplayer gaming platforms to verify user content suitability, stated the commissioner.
UPI boosts RuPay market share; cost pressure for gaming firms
Happy Thursday! The integration of UPI with RuPay credit cards has pushed up new issuances but transaction growth hasn’t kept up. This and more in today's ETtech Morning Dispatch.
RBI, payment industry meet discusses contours of new draft PA guidelines
The digital payments industry representatives met with senior officials of the Reserve Bank of India to share their feedback on the recently released draft guidelines for payment aggregators. This comes when US payment giant Stripe seems to be withdrawing from the domestic payments market in India.
Sebi launches Saa₹thi 2.0 mobile app on personal finance
The updated Saa₹thi app comes with an user-friendly interface. Its comprehensive tools are aimed at simplifying complex financial concepts. It has financial calculators, modules that introduce and explain KYC procedures, mutual funds, ETFs, buying and selling shares on stock exchanges, investor grievances redressal mechanism, and the Online Dispute Resolution platform
New EPF rules: EPFO relaxes mandatory uploading of cheque leaf image, attested bank passbook for these cases
EPFO eases the requirement to upload image of a cheque leaf and an attested bank passbook. This move will help to expedite the settlement of claims filed online and reduce the number of claims that are rejected
DoT asks telcos to reverify 6.8 lakh suspect mobile connections
The Department of Telecommunications (DoT) is initiating a re-verification process for approximately 6.8 lakh mobile connections suspected of being obtained through forged documents. These connections, flagged by advanced AI-driven analysis, are believed to have used fake or invalid proof of identity and address documents. Telcos have been directed to complete the re-verification within 60 days, with failure resulting in disconnection.
DoT imposes new KYC riders for biz connections, move aimed to prevent online fraud
DoT instructs telcos to monitor and disconnect business connections if misused, providing limited call/SMS/data facility with a one-year validity period. Telecommunication companies are also permitted to issue a maximum of up to 100 connections to any single entity simultaneously, with the condition that these connections are not intended for machine-to-machine communications.
New KYC rules: How to do KYC online, offline for mutual fund investments
Step by step guide to do mutual fund KYC online: If a mutual fund investor's KYC status is 'verified', 'registered' or 'on-hold', then he/she is required to do the re-KYC again. It is essential to have 'KYC Validated' status to ensure that an investor can invest in any scheme of any mutual fund house easily without giving KYC documents again and again.
States & online gaming regulations; banks tap startups to foil frauds
Happy Monday! In the absence of central government’s self-regulatory mechanisms, states are framing laws for online real money gaming. This and more in today's ETtech Morning Dispatch.
Digital fraud-hit banks turn to startups to cope with risks
Legacy financial institutions turn to startups like Data Sutram for tech support in customer verification. Data Sutram's 'DS Authenticator Trust Score' aids in assessing customer trust levels during account opening. Bureau Inc's 'Money Mule Score' enhances fraud detection.
Mutual fund investors: Do you need to do KYC again? Check new rules here
Many investors are discovering that their existing KYC status has become invalid. The validity is determined by the identity or address proof submitted during KYC registration. The regulator has narrowed down the list of officially valid documents (OVD) that can be used as proof. Your previously registered KYC would have been put ‘on hold’ if it was done with non-OVD documents, or your e-mail/mobile were not verified. After a change in norms from 1 April, if your KYC is not ‘validated’, you may have to repeat the process.
RBI’s stricter KYC rules may slow merchant onboarding 90%: experts
The new rules will be applicable to existing payment aggregators such as Razorpay, Cashfree, and PayU, card payment companies, such as Pine Labs, Innoviti Payments, and MSwipe, and QR code deployers, such as PhonePe, BharatPe and Google Pay.
Can KYC be done via digital mode?
It is important to note that from April 1, bank statements or utility bills will not be considered as officially valid documents to complete the KYC process.
KYC rules to change: Uniform KYC for all — opening bank account to buying insurance to investing in stocks, mutual funds
In its recent meetings, FSDC, chaired by Finance Minister Nirmala Sitharaman, proposed to bring uniform KYC to verify customers, ease inter-usability of KYC records across the financial sector, and simplify the digitalisation of the KYC process. What is uniform KYC? How will uniform KYC ease the process of onboarding? What is going to change for customers? ET Wealth Online explains.
What's KYC fraud and how to stay safe from this scam
Fraudsters are continuously finding new ways to bypass these checks and steal personal information or engage in criminal activities.
Industry on edge as Zerodha CEO Nithin Kamath flags deepfake concerns
Problem to become bigger as deepfakes improve, Nithin Kamath wrote on X last week
KYC Simplified: Cashfree Payments launches no-code verification solution ‘KYC Link’
The process, which can be automated or done manually, allows merchants to send verification links via SMS, email, or WhatsApp.
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