New SIM Rules from January 2024: The government is getting tough on scams and online fraud for 2024. They've introduced new rules for buying and selling SIM cards to combat the rise in fraud cases. Starting January 1, 2024, getting a SIM card won't be as easy due to stricter regulations.
To deter fake SIM purchases, the government is implementing harsh consequences – a three-year jail term and a hefty fine of up to Rs 50 lakh.
Digital KYC Mandate
Starting January 1, 2024, SIM cards will only be available in the country through digital Know Your Customer (KYC) processes. This change includes a significant shift in the verification system. SIM vendors must undergo mandatory verification, and bulk SIM distribution will no longer be permitted, excluding commercial purposes.
Biometric Data Requirement
There's a shift in the verification system, making it mandatory for SIM vendors to undergo verification. Bulk SIM distribution won't be allowed, except for commercial purposes.
Telecom companies have been given explicit instructions to collect biometric data for every customer buying a SIM. This measure aims to deter fraudulent SIM card purchases, with strict actions in place for those attempting to manipulate the system.
Mandatory Compliance
To ensure compliance, mandatory registration for telecom franchisees, SIM distributors, and point-of-sale agents is now in place. Dealers not following these rules could face a substantial fine of up to Rs 10 lakh.
The government's proactive measures aim to create a safer digital environment, discourage potential scammers, and promote responsible SIM card transactions in the coming year. Stay informed to smoothly navigate these upcoming changes.
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