Stronger Shields for Traders: SEBI Suggests Biometric & SIM-Based Security

The Securities and Exchange Board of India (SEBI) has proposed new technological measures to enhance the security of investors' trading and demat accounts. To prevent unauthorized transactions, SEBI suggests implementing a SIM card-binding mechanism, requiring a unique client code alongside the user's SIM and mobile device for account access. Additional recommendations include biometric authentication and a temporary lock-in facility for trading accounts. These initiatives aim to address growing threats such as hacking, identity theft, and fraud affecting trading platforms. SEBI invites stakeholder feedback on these proposals by March 11. 

 

Source: Reuters