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Almost all banks and financial institutions now send information about financial transactions through OTT platforms such as WhatsApp. Airtel has appealed to RBI to stop this practice. Know why Airtel said this to RBI
Highlights
- Airtel appealed to RBI to stop financial messages on OTT platforms.
- Airtel demanded regulatory consultation for consumer safety.
- It is difficult to track fraudulent links on OTT platforms.
New Delhi. If you use mobile, whether it is a keypad mobile or smartphone, you must also have a clear message on your phone. These messages will now get you WhatsApp and Telegram. In such a situation, Airtel has demanded regulatory consultation and has offered RBI to help in making framework for OTT platforms. So that consumer security can be ensured, especially in financial communication. Airtel has written a letter to RBI about this. In this letter, he has told RBI that the SMS that comes on the OTT platforms is difficult to track. Actually, it is difficult to find out and stop the fraudulent links through OTT channels. This causes the fight against online fraud.
According to Airtel, there is a lack of traceability and compliance measures for OTT applications. There are some such things like data sovereignty, data privacy, encryption standard and system access etc. for regulators, due to which it is difficult to trace them for the telecom company. Financial institutions are sending messages related to transactions and service on OTT, which increase security weaknesses. The telecom network finds itself weak here in terms of security.
Airtel has stated in its letter that telecom networks give safety and monitoring to users, which are not in OTT platform. Therefore, there is a threat to the risk of OTT fraud and consumer safety.
According to reports, the telecom company has received positive response from private and public sector banks on its cooperation proposal. In his letter, RBI Governor Sanjay Malhotra was appreciated by Airtel for the efforts of the Reserve Bank of India (RBI) in dealing with digital fraud. Let us know that Mulehunter.ai has started in association with RBI and Reserve Bank Innovation Hub (RBIH). It is an advanced AI-based system that identifies accounts that are used for illegal money transactions.
