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Mobile / Internet Banking are a very popular way of banking today. They seem to be very easy to use but also has risks involved. Know what jailbroken & rooted devices are & how to be safe.
Jailbreaking is the process of removing the limitations imposed by Apple and associated carriers on devices running the iOS operating system. To “jailbreak” means to allow the phone’s owner to gain full access to the root of the operating system and access all the features.
Similar to jailbreaking, “rooting” is the term for the process of removing the limitations on a mobile or tablet running the Android operating system.
Jailbroken and rooted devices are susceptible to malware and viruses due to weakened built-in security features of the devices.
There have been reported digital fraud cases on jailbroken and rooted devices which saw a spike during previous lockdowns.
The purpose of the RBI notification dated February 18, 2021, is “to issue Reserve Bank of India (Digital Payment Security Controls) Directions 2020 for regulated entities to set up a robust governance structure for digital payment systems and implement common minimum standards of security controls for channels like internet, mobile banking, card payments, among others.”
According to this, “all Regulated Entities may explore the feasibility of implementing a code that checks if the device is rooted/ jailbroken prior to the installation of the mobile application and disallow the mobile application to install/ function if the phone is rooted/ jailbroken.”
Refer circular - https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12032&Mode=0
In case the device is identified as jailbroken/ rooted, the user must restore the device to its factory settings.
At AU Small Finance Bank, we take our customers’ security very seriously, and we have implemented the highest-standard security measures. We also constantly review our security measures to avert any new potential threat. Even though we do our best to protect your interest, we request all our customers to be alert always while using mobile banking applications for transactions.
We urge all our customers to refrain from using jailbroken or rooted mobile devices for transactions as it can put you at risk of online fraud.
Happy and Safe Banking!