The Finance Ministry's FinTech report has recommended the formation of a new legal framework for consumer protection and has suggested enacting a law governing it soon. Although it did talk about consumer protection in the context of data privacy, it did not lay down concrete recommendations about how it would go about solving this issue. It also recommended amending the current Payments and Settlements Security (PSS) Act to include explicit mandates for consumer protection. Why consumer protection broke down While pointing towards consumer protection breakdown, the committee referred to cases such as- Bernie Madoff scam in the US, the Payment Protection Scandal in the UK, the Saradha chit fund scam in India. It also said that fintech raises further concerns over its implications on consumer protection and further talked about Ezubao P2P scam in China involving misdirected funds, and the GainBitcoin scam…
- Apple removes Russia’s largest social media network VK from App Store September 29, 2022
- RIL Drops JioMarket Plans for Now Amidst Delays in India’s E-Commerce Policy September 29, 2022
- Samsung working to get a closer look at your face for facial authentication on smartphones September 29, 2022
- Non-Personal Data Regulator Will Be Designed Following Consultation and Roundtables, Says MeitY September 28, 2022
- Tamil Nadu Passes Ordinance To Ban Online ‘Gambling’ Games Despite HC Striking Down Previous Ban September 28, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
A viewpoint on why the regulation of cryptocurrencies and crypto exchnages under 2019's E-Commerce Rules puts it in a 'grey area'
India's IT Rules mandate a GAC to address user 'grievances' , but is re-instatement of content removed by a platform a power it should...
Why ‘group privacy’ should be recognised, and how ‘non-personal’ data becomes a regulatory blindspot
There is a need for reconceptualizing personal, non-personal data and the concept of privacy itself for regulators to effectively protect data
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...