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The taxpayers and tax professionals made their compliances in time, leading to a surge in the filing of Income-tax Returns (<keyword id="20458564" type="General" weightage="20" keywordseo="ITRs" source="keywords">ITRs</keyword>), which resulted in a new record of ITRs filed till <keyword id="22468495" type="General" weightage="20" keywordseo="July-31" source="keywords">July 31</keyword>, 2024. July 31 was the last due date for filing the <keyword id="19948101" type="General" weightage="100" keywordseo="income-tax-returns" source="keywords">income tax returns</keyword>, without having to pay any penalties. The total number of ITRs for assessment year 2024-25 filed till July 31, 2024 is more than 7.28 crore, which is 7.5% more than the total ITRs for assessment 2023-24 (6.77 crore) filed, a <keyword id="19908390" type="General" weightage="20" keywordseo="Ministry-of-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Ministry of Finance" meta.hostid="261" meta.entityid="Ministry of Finance">Ministry of Finance</keyword> release stated on Friday. An increasing number of taxpayers have opted for the <keyword id="19935168" type="General" weightage="20" keywordseo="New-Tax-Regime" source="keywords">new tax regime</keyword> this year, the <keyword id="19900485" type="General" weightage="20" keywordseo="finance-ministry" source="keywords">finance ministry</keyword> said. Out of the total ITRs of 7.28 crore that have been filed, 5.27 crore have been filed in the new tax regime, as compared to 2.01 crore filed in the old tax regime. Thus, about 72% of taxpayers have opted for the new tax regime, while the rest 28% continue to be in the old tax regime. The filing of ITRs peaked on July 31, 2024 (due date for salaried taxpayers and other non-tax audit cases) with over 69.92 lakh ITRs being filed on a single day. The <keyword id="20404575" type="General" weightage="20" keywordseo="e-filing-portal" source="keywords">e-filing portal</keyword> also observed its highest per hour rate of 5.07 lakh of ITR filing between 7:00 pm to 8:00 pm on July 31. A total of 58.57 lakh ITRs from first time filers were reported, a fair indication of widening of tax base. "A lot of emphasis was provided to educate taxpayers about old and new tax regimes. FAQs and educational videos on the same were designed and uploaded on the e-filing portal," the ministry said. Focused outreach campaigns were carried out on social media to encourage the taxpayers to file their ITRs early. Along with this, unique creative campaigns were also carried out on different platforms. Informational videos in 12 vernacular languages, apart from English and Hindi, were displayed on digital platforms. The ministry said it is encouraging to note that over 6.21 crore ITRs have been e-verified, out of which more than 5.81 crore are through Aadhaar-based OTP (93.56% ). Of the e-verified ITRs, more than 2.69 crore ITRs for the 2024-2025 have been processed (43.34%) till July 31, 2024. Note that e-verification is the final step in filing your ITR. If you do not e-verify your ITR within 30 days of filing it, your ITR will stand invalid. The e-filing Helpdesk team has handled approximately 10.64 lakh queries from taxpayers during the year up to July 31, supporting the taxpayers proactively during the peak filing period. Taxpayers are also requested to verify their unverified ITRs if any, within 30 days of filing the ITR. Taxpayers are urged, who for any reason, missed filing their ITR within the due date, to complete their filing expeditiously.

51 lakh, or 7.5% more Indians filed income tax returns this year; 72% of taxpayers opted new regime, notes FinMin data

The <keyword id="19994390" type="General" weightage="20" keywordseo="GST-Council" source="keywords">GST Council</keyword> on Saturday decided to tweak <keyword id="20452955" type="General" weightage="20" keywordseo="tax-rates" source="keywords">tax rates</keyword> on items, including accommodation services for students and solar cookers, and took a host of taxpayer-friendly measures including waiver of interest and penalty for demand notices issued in the first three years of <keyword id="6354679" type="General" weightage="100" keywordseo="GST" source="Orion">GST</keyword> rollout. Briefing reporters after the 53rd <keyword id="3680839" type="General" weightage="20" keywordseo="GST-Council-meeting" source="Orion">GST Council meeting</keyword>, Finance Minister <keyword id="129243" type="General" weightage="20" keywordseo="Nirmala-Sitharaman" source="Orion">Nirmala Sitharaman</keyword> said the Council has recommended to roll-out the biometric-based <keyword id="20433416" type="General" weightage="20" keywordseo="Aadhaar-authentication" source="keywords">Aadhaar authentication</keyword> of registration applicants on pan-India basis in a phased manner. This will help check fraudulent registration done to avail input tax credit and evade taxes. To reduce litigation, the Council decided to fix a monetary limit for tax officers to file appeals before the GST Appellate Tribunal, the High Court and the Supreme Court at Rs 20 lakh, Rs 1 crore and Rs 2 crore, respectively. It also recommended reduction of the quantum of pre-deposit required to be paid by taxpayers for filing of appeals under Goods and Services Tax (GST). The maximum amount of pre-deposit for filing appeal with the appellate authority has been reduced from Rs 25 crore CGST and SGST each to Rs 20 crores CGST and SGST each. This will help ease cash flow and working capital blockage for the taxpayers. "The 53rd GST Council meeting has taken a number of decisions on trade facilitation, easing compliance burden and giving relief to taxpayers in terms of easing compliance," Sitharaman said. The Minister said the next meeting of the GST Council will be held in August in which the Group of Ministers (GoM) on GST rate rationalisation under Bihar Deputy Chief Minister Sumant Chaudhary, will give a presentation on the status of the work and aspects covered by the panel and work pending before the panel. "What was decided in the Council is, when we meet in the next GST Council meeting we will start a discussion on rate rationalisation... There will be a presentation by the GoM irrespective of whether the report is draft... and then Council will start the discussion on rate rationalisation in the next meeting in August," Sitharaman said. The GST Council on Saturday recommended to exempt Accommodation Services of up to Rs 20,000 per person per month from GST. This is subject to the condition that these services are supplied for a minimum continuous period of 90 days. "It's primarily meant for students," Sitharaman said. In a taxpayer friendly move, the Council has decided to waive interest and penalties for demand notices issued under Section 73 of the CGST Act (for cases not involving fraud, suppression or wilful misstatement) for the fiscal years 2017-18, 2018-19 and 2019-20, if the full tax demanded is paid by March 31, 2025. GST, which subsumed 17 local taxes and cesses, was rolled out on July 1, 2017. With its introduction, prices of various products and services used by masses have moderated. As per the CBIC data, mobile phones and many household items including TV, refrigerator, washing machine and AC have become cheaper post GST. It has reduced burden on household income and improved affordability. The Council also decided to refer the standing committee's recommendation to exempt GST on fertiliser and cut rates on raw materials to the GoM on rate rationalisation. Currently, GST is levied at 5 per cent on fertilisers, while its raw materials like sulphuric acid and ammonia face 18 per cent tax. Also the Tax Collected at Source (TCS) rate for e-commerce suppliers has been cut from present 1 per cent to 0.5 per cent, which will ease the financial burden on the suppliers making supplies through E-commerce platform. Besides, services provided by Indian Railways to the general public, namely, sale of platform tickets, facility of retiring rooms/waiting rooms, cloak room services and battery-operated car services as well as intra-railway transactions would be exempt from GST. GST Council has prescribed a uniform rate of 12 per cent on all milk cans meaning steel, iron, aluminum which are irrespective of the use. The Council also recommended a uniform GST rate of 12 per cent on all carton boxes and cases of both corrugated and non-corrugated paper or paper board, which in particular, help the apple growers of Himachal Pradesh and Jammu &amp; Kashmir. All types of Sprinklers, including fire water sprinklers, will attract 12 per cent GST. Solar Cookers, whether it has a single or dual energy source, too will attract a 12 per cent tax. The Council also decided that GST anti-profiteering provisions will have a sunset date of April 1, 2025. Current cases and investigations with regard to profiteering complaints will be handled by the Principal bench of GST Appellate Tribunal (GSTAT), instead of the Competition Commission of India (CCI). Also, the time limit to avail input tax credit w.r.t. any invoice or debit note through any GSTR 3B return filed up to November 30, 2021 for FY 2017-18, 2018-19, 2019-20 and 2020-21, has been fixed at November 30, 2021. Sitharaman said less than two per cent of the total 58.62 lakh taxpayers under Central GST administration has been sent tax notices and the intention of the government is to make GST assessees life easier by reducing compliance requirements. "I want to reassure the assessees that our intent is to make GST assessees life easier, we are working towards less and less compliance. On behalf of the CGST, notices are not being sent left, right and centre. Only 1.96 per cent of all active tax assessees have been sent notices from Central GST," Sitharaman said.

GST Council tweaks tax rates; Waives interest, penalty on tax dues for first 3 years of rollout

<ul><li>Personal data of thousands of Indians has reportedly been leaked from the CoWIN portal.</li><li>According to a report, details such as name, ID proof, gender and more have been leaked.</li><li>The data has been spotted on <keyword id="1275203" type="General" weightage="100" keywordseo="telegram" source="Orion">Telegram</keyword> and a bot sends the data when you send the user’s phone number.</li></ul>In what could be a major data breach, personal information of people who received the Covid-19 vaccine has reportedly been leaked online. This data includes the user’s name, date of birth, gender, and their ID. According to a report by Malayala Manorama, the data has been leaked through the CoWIN portal that was designed to help citizens book their vaccine slots. As per the report, all you need to do is enter the phone number of a person who has received the Covid-19 vaccine on a Telegram bot and it will fetch important details about the user. This, as per the report, has put important data such as Aadhaar, PAN, voter ID and passport of thousands of users at risk. The government has not revealed anything about the leak yet. <div type="twitter" handle="SaketGokhale" handlename="SaketGokhale" favoritecount="0" retweetcount="0" id="1668104757704269824"></div> Trinamool Congress (TMC) spokesperson Saket Gokhale has <a href="https://twitter.com/SaketGokhale/status/1668104757704269824">shared</a> screenshots of the Telegram bot, with vaccination information of people like P Chidambaram, Jairam Ramesh and Derek O Brien. <cmsannotation type="cmsannotation" annotationid="Not the first Covid-19 related data leak" comment="subhead" text="Not the first Covid-19 related data leak">Not the first Covid-19 related data leak</cmsannotation> This is not the first time that CoWIN data has come under the scanner. In 2022, data of over 20,000 people, including their name, mobile number, Covid-19 test result and their address was<a href="https://www.hindustantimes.com/india-news/data-meant-for-cowin-portal-leaked-online-over-20-000-indians-likely-affected-101642767559692.html"> reportedly</a> leaked. This data was meant to be uploaded on the CoWIN platform. In another instance, data of over 15 crore citizens was<a href="https://www.timesnownews.com/technology-science/article/cowin-apps-covid-19-vaccination-data-of-15-crore-users-leaked-and-up-for-sale-government-denies-breach/769434"> reportedly</a> leaked in 2021 and the hackers put the data on sale. The government however refuted the claim and said that the CoWIN platform was never hacked. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/vision-pro-to-ios-17-apples-top-six-announcements-at-wwdc-2023/articleshow/100786632.cms">Vision Pro to iOS 17: Apple’s top six announcements at WWDC 2023</a> <a href="https://www.businessinsider.in/finance/news/2000-note-withdrawal-how-to-exchange-notes-is-it-a-legal-tender-and-other-questions-answered/articleshow/100412941.cms">₹2,000 note withdrawal – How to exchange them, is it a legal tender and other questions answered</a> <a href="https://www.businessinsider.in/tech/news/apple-app-store-prevented-over-2-billion-in-fraudulent-transactions-last-year-banned-282-million-user-accounts/articleshow/100322718.cms">Apple App Store prevented over $2 billion in fraudulent transactions last year, banned 282 million user accounts</a>

Covid-19 vaccination data reportedly leaked – ID proof, date of birth and other details available on Telegram

<ul><li><keyword id="1953683" type="General" weightage="80" keywordseo="aadhaar-authentication" source="Orion">Aadhaar authentication</keyword> transactions have climbed to 2.31 billion in March 2023.</li><li> Aadhaar-enabled e-KYC rose by 16 per cent as 21.47 million Aadhaars were updated successfully in March 2023.</li></ul>New Delhi, <keyword id="144117" type="General" weightage="100" keywordseo="aadhaar" source="Orion">Aadhaar</keyword> authentication transactions have climbed to 2.31 billion in March 2023, against 2.26 billion authentication transactions recorded in February 2023, according to IT Ministry data. Also, Aadhaar-enabled e-KYC rose by 16 per cent as 21.47 million Aadhaars were updated successfully in March 2023. While a majority of the authentications transaction numbers were carried out by using biometric fingerprint, it is followed by demographic and OTP authentications, official sources said. Adoption of e-KYC has also significantly reduced customer acquisition cost of entities like financial institutions, telecom service providers and others, they added. The cumulative number of <keyword id="4342439" type="General" weightage="20" keywordseo="aadhaar-e-kyc" source="Orion">Aadhaar e-KYC</keyword> transactions so far has gone past 14.7 billion till the end of March 2023. During the month of March, more than 21.47 million Aadhaars were updated following requests from the residents as against 16.8 million such updates in February 2023. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/the-best-vpns-to-safeguard-your-online-privacy-and-security-in-india/articleshow/99727397.cms">The best VPNs to safeguard your online privacy and security in India</a> <a href="https://www.businessinsider.in/tech/news/formerly-barred-from-pharma-industry-entrepreneur-develops-ai-tool-using-chatgpt-to-cut-down-hospital-runs/articleshow/99662101.cms">Formerly barred from pharma industry, entrepreneur develops AI tool using ChatGPT to cut down hospital runs</a>

Aadhaar authentication rose to 2.31 billion in March 2023: IT Ministry data

The e-commerce market in India is projected to increase significantly to over USD 300 billion by 2030 as the country's <keyword id="20107419" type="General" weightage="20" keywordseo="digital-economy" source="keywords">digital economy</keyword> is set to reach a whopping USD 1 billion by the same year. According to <keyword id="19918506" type="General" weightage="20" keywordseo="Invest-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Invest India" meta.hostid="261" meta.entityid="Invest India">Invest India</keyword>, India's online shopper base will be the 2nd largest globally by 2030, with nearly 500-600 Mn shoppers. Even now, India has the 2nd largest Internet user-base globally with 881 million users. India is moving towards becoming a dominant force in global e-commerce by 2030, driven by a growing digital economy and an expanding internet user base. The data from the investment promotion and facilitation agency Invest India from shows India taking the lead in <keyword id="19957108" type="General" weightage="20" keywordseo="online-shopping" source="keywords">online shopping</keyword>, the e-commerce sector in India is valued at USD 70 billion at present. This makes up for just around 7 percent of the total retail market in the country. However, several factors are likely to contribute a bright future outlook for the sector. <cmsannotation type="cmsannotation" annotationid="Growing internet penetration and digital economy" comment="subhead" text="Growing internet penetration and digital economy">Growing <keyword id="20707509" type="General" weightage="20" keywordseo="internet-penetration" source="keywords">internet penetration</keyword> and digital economy</cmsannotation> Internet penetration across has seen substantial growth, with over 60% of the Indian population (918 million) using the internet by September 2023. Further, an estimated 87 percent of Indian households are projected to have internet access as early as 2025. The time spent accessing the internet via mobile devices has also increased by 21 percent compared to 2019. The affordability of data prices in India is a key factor, with one gigabyte of data priced at around USD 0.17 (Rs 13.5), encouraging a large portion of the population to go online. <keyword id="21457667" type="General" weightage="20" keywordseo="mobile-data-traffic" source="keywords">Mobile data traffic</keyword> has tripled from 2018 to 2023, demonstrating the growing dependence on <keyword id="19979951" type="General" weightage="20" keywordseo="digital-platforms" source="keywords">digital platforms</keyword> for diverse requirements. It is projected that by 2026, 1.18 billion people across the country will have access to smartphones, over 80% of India's population. The increasing number of smartphone users along with higher average data consumption per user, boosts the digital economy. The Unified Payments Interface (UPI) has become a major player in digital payments, handling transactions worth USD 1.5 trillion in 2022. There has been a significant increase in the availability of local language and mobile-first content, with about 73 percent of India's internet users utilizing Indian languages. As a result, there is an estimated regional language user base of 540 million, creating a market worth USD 53 billion. Digital infrastructure like UPI, eKYC, and Aadhaar has cut down the consumer onboarding time by 80 percent, enhancing the digital experience. The Open Network for Digital Commerce (ONDC) is another notable initiative by the Government of India, launched in 2022. It aims to provide equal opportunities to MSMEs to thrive in digital commerce and democratize e-commerce. <cmsannotation type="cmsannotation" annotationid="A transition along with growth" comment="subhead" text="A transition along with growth">A transition along with growth</cmsannotation> In FY 2022-23, Government e-marketplace (GeM) registered its highest ever Gross Merchandise Value of $2011 Bn, shows data from Invest India. The projected growth in online shoppers in India is substantial, with a compound annual growth rate (CAGR) of 22 percent to 88 million in rural India and 15 percent to 263 million in urban India from 2019 to 2026. There is a notable transition towards rural-focused value e-commerce, with more than 60 percent of demand anticipated to come from tier 2-4 towns and rural India by 2026. Government programs such as the National Logistics Policy are designed to streamline deliveries to remote areas, improving the efficiency and cost-effectiveness of logistics. The quick commerce market in India's hyperlocal mobility sector is also projected to grow exponentially to achieve a market size of USD 5.5 billion by 2025. Leading companies like Swiggy and Zomato are at the forefront of the market, while startups like Zepto are also gaining substantial market share. <keyword id="20873923" type="General" weightage="20" keywordseo="social-commerce" source="keywords">Social commerce</keyword>, a new trend that uses social networks and digital media to connect buyers and sellers, is also projected to achieve a market size of USD 70 billion by 2030, with small video applications gaining significant popularity. Significant mergers and acquisitions have been observed in the e-commerce sector, with companies such as Zomato and PhonePe making strategic decisions to enhance their positions. Government schemes like Jan Dhan Yojana, BharatNet Project, and the implementation of Goods &amp; Service Tax (GST) have been instrumental in shaping India's digital economy. (With inputs from ANI)

India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030

<ul><li><keyword id="144117" type="General" weightage="100" keywordseo="aadhaar" source="Orion">Aadhaar</keyword> has become one of the most important documents in our lives.</li><li>Sharing of Aadhaar with others is risky as it could result in misuse – even the government admitted to it before hastily retracting its statement.</li><li>A <keyword id="6972072" type="General" weightage="20" keywordseo="masked-aadhaar" source="Orion">masked Aadhaar</keyword> can be used to prevent misuse of your personal information.</li><li>Here’s how to download a masked Aadhaar.</li></ul>Aadhaar has become one of the most important documents in India and it is something that we often use, whether it is opening a bank account, getting a SIM card, applying for a credit card or while applying for a driving license. An increase in usage of Aadhaar has also made it prone to misuse. To prevent this, the <keyword id="86474" type="General" weightage="50" keywordseo="unique-identification-authority-of-india" source="Orion">Unique Identification Authority of India</keyword> (UIDAI) had introduced masked Aadhaar. <cmsannotation type="cmsannotation" annotationid="What is a masked Aadhaar?" comment="subhead" text="What is a masked Aadhaar?">What is a masked Aadhaar?</cmsannotation> If you wish to share your Aadhaar with someone but wish to prevent misuse of your information, you can share a masked Aadhaar with them. A masked Aadhaar adds a layer of security by concealing the first eight digits and showing only the four digits. For example, a masked Aadhaar will show your Aadhaar number as “xxxx-xxxx-1234”. The other details in your Aadhaar, such as your name, address, date of birth will remain the same, allowing you to use it as an address proof in banks and other such institutions. <cmsannotation type="cmsannotation" annotationid="How to download masked Aadhaar?" comment="subhead" text="How to download masked Aadhaar?">How to download masked Aadhaar?</cmsannotation> <ul><li>To download your masked Aadhaar, you need to go to UIDAI’s myAadhaar <a href="https://myaadhaar.uidai.gov.in/">website</a>.</li><li>Scroll down and click on the “Download Aadhaar” option on the left side.</li><li>Now, enter your Aadhaar number, Enrolment ID or Virtual ID.</li><li>Enter the captcha and click on “Send OTP”.</li></ul>You will now get a checkbox that asks – “Do you want a masked Aadhaar?” <div type="image" title="Aadhaar" msid="92061394" hostid="261" caption="&amp;lt;p&amp;gt;Masked Aadhaar&amp;lt;/p&amp;gt;"></div> <ul><li>Select the checkbox and enter the OTP that you have received on your registered number.</li><li>Now, click on “Verify and Download”.</li></ul>Your masked Aadhaar is ready to use. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/apple-ios-16-update-here-are-the-new-features-eligible-devices-and-everything-you-need-to-know/articleshow/92055179.cms">Apple announces iOS 16 update – here are the new features, eligible devices and everything you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/poco-f4-expected-to-launch-soon-in-india-specs-expected-price-and-everything-you-need-to-know/articleshow/92039569.cms">Poco F4 expected to launch soon in India – specs, expected price and everything you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-1-display-specifications-leaked-ahead-of-launch-heres-everything-we-know-so-far/articleshow/92029049.cms">Nothing phone (1) to launch this week – everything we know so far about the device</a>

What is masked Aadhaar card, why do you need it and how to download it

More than one in two Indian consumers who use instant loan apps are facing very high interest charges, extortion and <keyword id="6355729" type="General" weightage="20" keywordseo="data" source="Orion">data</keyword> misuse, as the Reserve Bank of India (<keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword>) takes a tough stand against unregistered digital loan lending apps, a new report showed on Tuesday. While 58 per cent of citizens said when they or someone in their family/ household staff took a loan using instant loan apps in the past two years, they were charged annual interest of over 25 per cent. Over 54 per cent of citizens surveyed experienced extortion or data misuse during the collection process, according to the report by community social media platform LocalCircles. The platform on Tuesday wrote to the RBI Governor <keyword id="6359111" type="General" weightage="80" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword> and IT Minister <keyword id="7787429" type="General" weightage="80" keywordseo="ashwini-vaishnav" source="Orion">Ashwini Vaishnav</keyword>, requesting them to take cognizance of the survey findings and take further action on such instant loan apps. According to MeitY, it has blocked 27 such fraudulent instant loan apps. The RBI has also disallowed non-bank prepaid payment instruments (PPIs) from loading credit. "The PPI-MD (PPI-master direction) does not permit loading of PPIs from credit lines. Such practice, if followed, should be stopped immediately. Any non-compliance in this regard may attract penal action under provisions contained in the Payment and Settlement Systems Act, 2007," according to the latest RBI directive. The Maharashtra police cyber crime team recently wrote to Google Play Store, asking to remove 69 loan apps after receiving hundreds of complaints of harassment and threats made by fraudulent loan recovery agents to customers. India has witnessed an emergence of instant loan providers through smartphone-enabled fintech lending companies to help people meet shortages of funds. Some instant loan apps, according to consumers, charge as much as a 500 per cent interest rate and use extortion methods to collect money from borrowers or loan defaulters, according to LocalCircles. "Some citizens also claim to be getting phone calls for repayment of loans taken over a year ago, even though they have paid the amount taken or more," the report mentioned. On the other hand, there are many reports of borrowers' personal information, including <keyword id="144117" type="General" weightage="80" keywordseo="aadhaar" source="Orion">Aadhaar</keyword> card, PAN card, etc. being shared with third-party platforms. "People have also reported in a few cases, how their parents in a different location received messages about the loan payment which they had already made some time back," the report noted. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/indias-biggest-companies-spend-nearly-11-lakh-crore-on-employee-expense-last-year/articleshow/92690317.cms">If you thought techies got the biggest hikes last year, think again...</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/big-tech-should-obey-the-law-of-the-land-says-india-after-twitter-goes-to-court/articleshow/92689452.cms">Big Tech should obey the law of the land says India, after Twitter goes to court</a>

One in two Indians face extortion and data misuse thanks to instant loan apps

Professional social networking platform <keyword id="28120" type="General" weightage="100" keywordseo="linkedin" source="Orion">LinkedIn</keyword> has introduced its identity verification feature for Indian users. "Having an ID verification means that the individual's government-issued ID is verified by one of LinkedIn's verification partners," Ashutosh Gupta, Country Manager at <keyword id="278010" type="General" weightage="50" keywordseo="linkedin-india" source="Orion">LinkedIn India</keyword>, said in a blogpost on Wednesday. In <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, HyperVerge, a third-party identity verification service which uses DigiLocker -- an online wallet for Indian government-issued IDs like the <keyword id="6356006" type="General" weightage="80" keywordseo="aadhaar-card" source="Orion">Aadhaar Card</keyword> -- handles ID verification. The ID verification is available for users with a valid Aadhaar number and an Indian phone number. "On LinkedIn, when you show that you're the real you, you'll have an even greater chance of finding the professional opportunities that matter to you and your community," Gupta said. He further mentioned that the platform does not have access to any sensitive data from the member's Aadhaar. "If you don't have an Aadhaar, you can still verify other information for use on LinkedIn using different methods. You can choose to verify through your work email, or workplace credentials," he added. In April, the company launched the ID verification in the US and plans to roll out this feature to other regions soon. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/renew-power-posts-net-profit-of-1-mn-for-q4-but-ends-fy23-in-the-red/articleshow/100813970.cms">ReNew Power posts net profit of $1 mn for Q4 but ends FY23 in the red</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ivan-menezes-india-born-ceo-of-johnnie-walker-whiskys-maker-diageo-passes-away/articleshow/100814453.cms">Ivan Menezes, India-born CEO of Johnnie Walker whisky's maker Diageo, passes away</a>

LinkedIn introduces ID Verification feature for Indian users

<ul><li><keyword id="3489555" type="PERSON" weightage="20" keywordseo="upstox">Upstox</keyword>, the second largest stock broker in India, has suffered a massive data breach.</li><li>This breach has exposed user data like Aadhaar, PAN, bank account numbers and more.</li><li>While Upstox did not comment on the data leak, it said it has upgraded its security systems ‘manifold’ on the recommendations of a global cyber-security firm.</li></ul> Popular discount broker Upstox has suffered a massive data breach that has exposed some important data like Aadhaar, PAN and bank account numbers, apart from other personally identifiable information like mobile numbers and email addresses. Upstox is a Delhi-based discount stock broker that allows its customers to buy and sell shares. It is backed by Tiger Global and has over <a href="https://economictimes.indiatimes.com/markets/stocks/news/what-made-upstox-indias-second-largest-stockbroker-after-zerodha/articleshow/78745921.cms">1 million customers</a>. “We have upgraded our security systems manifold recently, on the recommendations of a global cyber-security firm. We brought in the expertise of this globally renowned firm after we received emails claiming unauthorised access into our database,” Upstox <a href="https://upstox.com/announcements/customer-support/security-measures/">said</a> on its website, reacting to reports of the data breach. The company said that despite the data breach, the funds and shares of its customers are safe. This is for two reasons – funds in your Upstox account can only be withdrawn to the linked bank account, and the shares are held with the depositories – either Central Depositories Services India Ltd (CDSL) or National Securities Depository Ltd (NSDL) – and not with Upstox. With that being said, Upstox users have other things to be worried about. Security researcher Rajshekhar Rajaharia, who <a href="https://www.businessinsider.in/tech/news/over-100-million-debit-and-credit-card-users-data-has-been-leaked-online-from-payments-processor-juspay-amazon-and-swiggy/articleshow/80096472.cms">had earlier tipped Business Insider about Juspay</a> and MobiKwik data breaches, told us that the <keyword id="11082460" type="UNKNOWN" weightage="20" keywordseo="Upstox-data-breach">Upstox data breach</keyword> includes Aadhaar, PAN, passport, bank account numbers, mobile numbers and even the photos of signatures. This data could be used by hackers or malicious parties to impersonate users and transact on their behalf without the users’ knowledge. According to Rajaharia, the Upstox data breach was executed due to a compromised Amazon Web Service (AWS) key used by the company. He says that the same AWS key vulnerability was exploited in the MobiKwik data breach as well. Rajaharia shared a data sample with us – the sample revealed user details as reported in the breach. However, we could not verify the authenticity of the sample. The hacking group, ShinyHunter, has taken down the data for now. Upstox is the latest in Indian companies being targeted by hackers The Upstox data breach is the latest in a string of Indian companies being hacked – the most recent ones were MobiKwik, Juspay, ClickIndia, ChqBook, WedMeGood, among others. However, this time around, the Upstox data breach could be a result of its own folly. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/over-100-million-debit-and-credit-card-users-data-has-been-leaked-online-from-payments-processor-juspay-amazon-and-swiggy/articleshow/80096472.cms">The company that processes payments for Amazon and Swiggy has reported a data leak of over 100 million debit and credit cardholders</a> <a href="https://www.businessinsider.in/tech/news/these-were-the-biggest-cyber-attacks-of-2020/slidelist/79941232.cms">From FireEye to Twitter to Covid-19 vaccine research ⁠— these were the biggest cyber attacks of 2020</a>

Discount broker Upstox suffers data breach – Aadhaar, PAN and bank account numbers leaked

<ul><li>The CSC <keyword id="9325628" type="UNKNOWN" weightage="20" keywordseo="BHIM-data-breach">BHIM data breach</keyword> includes extremely sensitive information like Aadhaar details with complete scans of the Aadhaar cards, biometric details, addresses, date of birth and more.</li><li>In total, over 7 million records of millions users were exposed.</li><li>CERT-In, which was notified of the leak on May 5, had reportedly fixed it on May 22.</li></ul>Over 7 million records of user transactions on the CSC BHIM website were left unsecured as per a report Israeli cybersecurity website vpnMentor. These records include Aadhaar card numbers, PAN numbers, and even biometric details in a data bundle of 409 GB. According to the <a href="https://www.vpnmentor.com/blog/report-csc-bhim-leak/">report</a>, the CSC BHIM data breach includes personal data such as Aadhaar details, addresses, bank records, caste certificate and a complete personal profile of the users. <div type="Article" hostid="261" msid="63924186" title="Indian government portal leaks 8.9mn Aadhaar details, again" mstype="2" mssubtype="0"></div> The data breach has since been patched up but the data was out there for anyone who knew where to look for over a year. However, the National Payments Corporation of India denies that there has been any incident. “We would like to clarify that there has been no data compromise at <keyword id="4013165" type="PERSON" weightage="20" keywordseo="BHIM-app">BHIM App</keyword> and request everyone to not fall prey to such speculations. NPCI follows high level of security and an integrated approach to protect its infrastructure and continue to provide a robust payments ecosystem,” it said. How bad is the BHIM data breach? The cybersecurity researchers believe that the combination of data left exposed could give hackers the ability to carry out identity theft, tax fraud, monetary theft, among other illegal activities. The research team led by Noam Rotem and Ran Locar describe the data breach as being akin to a hacker gaining access to the entire data infrastructure of a bank and detailed information about its users’ account information. “The sheer volume of sensitive, private data exposed, along with UPI IDs, document scans, and more, makes this breach deeply concerning,” said the report explaining the seriousness of the data breach. They assert that using the above details of the personal data about an individual, from their names and dates of birth to biometric details and ID numbers, could give third-party onlookers a complete profile of an individual — including a look into their finances and banking records. “It would be incredibly valuable to hackers… This data would make illegally accessing those accounts much easier,” said the report. With complete profiles of BHIM users being leaked, it leaves them extremely vulnerable to all sorts of frauds and theft. The risks for affected users can exceed just monetary loss – there is a high risk of identity theft, especially since almost all personal data has been exposed. “The scale of the exposed data is extraordinary, affecting millions of people all over India and exposing them to potentially devastating fraud, theft, and attack from hackers and cybercriminals,” it added, suggesting that the breach is likely very invasive. How and when was BHIM UPI’s data breached? The cybersecurity researchers claim that 409 GB of data was stored on an unsecured Amazon Web Services (AWS) S3 bucket exposing records from February 2019. “S3 buckets are a popular form of cloud storage across the world but require developers to set up the security protocols on their accounts,” said the report. The research team at vpnMentor discovered the BHIM data breach on April 23 and contacted India’s Computer Emergency Response Team (CERT-In) on May 5. The data leak was finally fixed by the authorities on May 22, leaving the breach exposed for an entire month after it was discovered. <table style="border-width: initial; border-style: none; width: 451.276pt; table-layout: fixed;"></colgroup><tbody><tr><td colspan="2" style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Timeline of the data breach </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Date discovered </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 23, 2020 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Contact with CERT-In </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 28, 2020 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Response from CERT-In </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 29, 2020 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Contact with company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 5, 2020 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Second contact with CERT-In </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 22, 2020 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Data of rectification </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">May 22, 2020* </td></tr></tbody></table> *Assumed day of rectification after no reply from CERT-In Source: VPNMentor What can you do? Unfortunately, there’s not much you can do on your end right now. If you are unsure about your data safety, you can contact CSC e-Governance Services, which is a special division set up under the Ministry of Electronics &amp; IT. The NPCI maintains that their systems are robust and no data breach occurred to begin with despite evidence posted by the vpnMentor's cybersecurity team. SEE ALSO: <a href="https://www.businessinsider.in/indian-government-portal-leaks-8-9mn-aadhaar-details-again/articleshow/63924186.cms">Indian government portal leaks 8.9mn Aadhaar details, again</a> <a href="https://www.businessinsider.in/slideshows/here-are-the-most-controversial-data-breaches-of-2018-that-affected-indian-users/slidelist/67155541.cms">Here are the most controversial data breaches of 2018 that affected Indian users</a> <a href="https://www.businessinsider.com/r-new-data-leak-hits-indias-national-id-card-database-aadhaar-zdnet-2018-3?IR=T">New data leak hits India's national ID card database Aadhaar: ZDNet</a>

CSC BHIM site left Aadhaar cards, PAN numbers, and biometric information exposed — could be used to carry out financial fraud and identity theft, says report

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