comscore Government plans to set up insurance guidelines for mobile wallet transactions
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Government plans to set up insurance guidelines for mobile wallet transactions

Government in talks with 2-3 insurance firms to make electronic wallet transactions insured.

  • Updated: January 30, 2017 12:35 PM IST
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Government has initiated talks with mobile wallet players and insurance companies to work out a mechanism to enable an insurance framework for electronic wallet transactions. Also in the offing is notification of forensics labs as registered ‘examiners’ for electronic evidence. Today, the IT Ministry is the only registered examiner for cyber crime related evidence. Also Read - Beware! Fake e-commerce website scams increasing during festive season sales

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“The IT Ministry has co-ordinated 2-3 meetings with insurance firms and mobile wallet players. The core idea is that money in electronic wallet needs to be insured,” an official source said. Also Read - PUBG Mobile: Grandson uses Rs 2.3 lakh for in-game purchases

Stating that the discussions were close to a “breakthrough”, the source said once the talks reach a conclusion, the rules to enable an insurance framework for mobile wallet transactions will be notified. In another move, the IT Ministry will also notify forensic labs as ‘examiner’ for cyber crime related evidence. “At present, the IT Ministry is the only registered examiner for electronic evidence. The idea is to notify 2-3 cyber forensic labs as examiner of electronic evidence, to start with,” the source said.

The IT Ministry’s intention is to have one such lab notified as an “examiner” in every district, over a period of time, they added.

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  • Published Date: January 30, 2017 12:30 PM IST
  • Updated Date: January 30, 2017 12:35 PM IST



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