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Banks can use face recognition, Iris scan in a bid to reduce fraud and tax evasion

To reduce the incidents of Bank Fraud and Tax Evasion, the Government of India has advised the use of Facial Recognition and Iris Scan in the country's banks. The report stated that the prospect of banks using facial recognition has concerned some privacy experts.

By Ruchi Upadhyay 
Updated Date

New Delhi: To reduce the incidents of Bank Fraud and Tax Evasion, the Government of India has advised the use of Facial Recognition and Iris Scan in the country’s banks. According to the report of sources, facial recognition and iris scan can now be used for further transactions after the annual limit given in personal transactions is over.

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According to sources some big private and public banks have also started using this option. However, the source refused to name the banks. According to the report, the use of Facial Recognition and Iris Scan is not mandatory for verification. However, this is for cases where the Government ID card, PAN card number has not been shared with the banks for tax purposes.

Experts expresses concern
At the same time, the initiative to use facial recognition has also worried some experts. Advocate and cyber law expert Pawan Duggal said, “This raises privacy concerns especially as India lacks a dedicated law on privacy, cyber security and facial recognition.” The government has said it is expecting parliamentary approval of the new privacy law by early 2023.

In December last year, the Finance Ministry asked Indian banks to take “necessary action” on a letter from the Unique Identification Authority of India (UIDAI), which suggested that verification for transactions should be based on facial recognition and iris scanning. must be done through Especially in such cases where the fingerprint certification of a person fails.

How does technology work?
Facial recognition technology algorithms work on a scale, where you recognize a face when you see it, but the technology sees face data. That data can be stored and accessed. This technique opens the lock of the phone by reading the data. This technology is being used for security in most of today’s smartphones.

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