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Tru.ID announces SIM-based authentication in India

Friday 28 January 2022 11:48 CET | News

Mobile verification platform tru.ID has announced its launch in India to help fintechs, banks, and ecommerce platforms to prevent identity fraud and provide safe and secure transactions.

According to new regulations imposed by the Reserve Bank of India (RBI), as of February2021, all regulated businesses in payments, fintech, and crypto are required to validate users’ transactions through additional authentication methods, including device binding and SIM. The new guidelines aim to prevent fraud and provide a safe harbour for Indian people looking to perform online commercial transactions.

In response to these guidelines, tru.ID will conduct a direct verification of a user’s mobile network, phone number, and associated SIM card to prevent any fraud risks and ensure strong authentication of a user’s device. 

SIM-based authentication is resistant against hijacking by using tamper-resistant and cryptographic security embedded in the SIM card, thus providing a new protective layer against fraudsters and malware.


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Keywords: RBI, multi-factor authentication, online authentication, fraud detection, fraud prevention, ecommerce, online payments
Categories: Fraud & Financial Crime
Companies:
Countries: India
This article is part of category

Fraud & Financial Crime






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