Seen the Shocking 'FASTag Scam' Viral Video? Here is the Truth
A FASTag scam viral video has recently sparked concerns about the security of the FASTag ecosystem. The video shows a boy allegedly scanning a FASTag with his smartwatch, leading to unauthorized debits. However, the National Payments Corporation of India (NPCI) has issued a statement dismissing these claims.
The NPCI, the umbrella organization for all retail payment systems in India, has reassured the public that the NETC FASTag ecosystem remains uncompromised and tamper-proof. According to NPCI:
Secure Encryption: Every transaction between banks and NPCI is encrypted using a secure 256H SHA ECC algorithm and protected with a Hexadecimal Private Key.
No Person-to-Person Transactions: FASTags cannot operate in any person-to-person capacity through open internet connectivity.
The video shows a boy using a smartwatch to scan a FASTag after cleaning a car's windshield. The driver in the video claims the boy is part of a group of fraudsters using smartwatches to steal money via FASTag stickers at traffic signals. However, NPCI has debunked these claims, explaining that the NETC FASTag Ecosystem operates on a robust four-party model involving NPCI, Acquirer Bank, Issuer Bank, and Toll Plazas.
NPCI has highlighted the multiple layers of security protocols in place to ensure safe processing of transactions within the FASTag ecosystem. These measures include:
End-to-End Security: Ensuring the security of transactions from initiation to completion.
Multiple Security Layers: Implementing several layers of protocols to prevent unauthorized access and fraud.
The NPCI has confirmed that the FASTag system is secure and the claims made in the viral video are unfounded. Users can continue to use FASTag for their toll payments with confidence in the system's integrity and security.
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