Cashless transactions is a novel idea to prevent dubious underhand deals and curb generation of black money in the economy but the system needs to be adequately backed to insulate cyber crimes as well as ecommerce frauds. Hackers have already taken guard to loot people and we have seen money being fraudulently siphoned off from e-wallets and other forms of digital payments. Government needs to strengthen its machinery which deals in cyber crimes as umpteen numbers of frauds would be registered in the days to come if more and more people use internet for making payments online. Also, time for government to engage top software companies to prevent such online frauds and I am sure there would be a way out to deal with this issue as every problem has a worthy solution.
S.N. Kabra
(The views expressed by the author in the article are his/her own.)
