Security Risks of Aadhar Payment System

Prof. Aman Aggarwal, a renowned economist, and a senior vice-chairman at the Indian Institute of Finance based in India participate in Risk Roundup to discuss the Security Risks of the Aadhar Payment System. Security Risks of Aadhar Payment System While the increasing number of nations are trying to create a unique identification number for all their citizens, the lack of effective legal framework, regulations, identification and authentication tools, and technologies are creating complex security challenges. As a result, Identity fraud is becoming a growing global problem. Irrespective of whether the fraud is tied to social security numbers (SSNs) in the United States or UID numbers in India or the digital ID in Estonia or in Spain; the emerging reality of identity fraud, crimes, and complex security risks is a cause of great concern. Defining and designing a system at the national level is a complex challenge. So, as we evaluate, Aadhar Act, the Unique Identification Number, the Aadhar Payment System, and the Universal Payment Interface, it seems that the security risks begin with the UID numbers. The time is now to understand and evaluate the security risks emerging from the Aadhar Payment System and the Universal Payment Interface. For more please watch the Risk Roundup Webcast or hear the Risk Roundup Podcast About the Guest AGARWAL, Aman (India) has been felicitated by being Enthroned to a Chair position of the St. Emillion Brotherhood (from 8th Century AD) by the Heritage City of Bordeau, France (on 28th June 2007). A special Honour and Privilege given to World figures in Business, Arts, and Science. He has also been felicitated by a nomination for the Honorary Doctorate of Finance by the University of Cergy-Pontoise Thema, France (in 2007) and the Honorary Professorship as Professor of Uzbekistan by Tashkent State University of Economics, Uzbekistan (in 2002), a 76 years old prestigious university in Uzbekistan (estd. 1931), in recognition of his contribution to academics and literature. He has studied at some of the most illustrious institutions like Delhi University, Indian Institute of Finance, London School of Economics, and Columbia University. He has also pursued a specialized program in Finance on Options, Futures, and Other Derivatives from the London School of Economics. He has also pursued the joint Japan/World Bank initiated Senior Executive program in Economic Policy Management from Columbia University at School of International & Public Affairs and has had a short stint at The World Bank in Washington DC, USA. He is currently heading as Professor of Finance and Vice-Chairman at INDIAN INSTITUTE OF FINANCE. He is editing the quarterly journal of finance – FINANCE INDIA as its Associate Editor. He is officiating Director at IIF BUSINESS SCHOOL [GGS Indraprastha University], Editorial Board member/Co-Editor of The Empirical Economics Letters, Research in Financial Economics, Global Finance Journal, Les Cahiers de la Recherche ISC, Euro-Mediterranean Economics, and Finance Review, Research in Quantitative Finance and Business Management, the Journal of Financial & Risk Management Asia Pacific Journal of Finance and Banking Research, Global Journal of Finance and Banking and the Journal of Entrepreneurship and an invited Financial Expert. About the Host of Risk Roundup Jayshree Pandya (née Bhatt), Founder and CEO of Risk Group LLC, is a scientist, a visionary, an expert in disruptive technologies, a Forbes contributor and a globally recognized thought leader and influencer. She is actively engaged in driving global discussions on existing and emerging technologies, technology transformation, and national preparedness. From the National Science Foundation to organizations from across nations, Jayshree is an invited speaker on emerging technologies, technology transformation, digital disruption, strategic security risks, industry risks, and country risks. She is the author of the book, The Global Age: NGIOA @ Risk and has also published many scientific and technical papers.  Jayshree advises decision-makers at all levels on existing and emerging technologies: emerging applications, impact, and solutions. About Risk Roundup Risk Roundup, a global initiative launched by Risk Group, is a security risk reporting for risks emerging from existing and emerging technologies, technology convergence, and transformation happening across cyberspace, geospace, and space. 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