Where to get the VID? . "No one else including the authentication agency can generate this VID on behalf of Aadhaar holder", the UIDAI explained.
Kiran also points out that as long as local and global AUAs are not defined clearly, the usage of VIDs remains limited.
"Last digit of the VID is the checksum using "Verhoeff" algorithm as in Aadhaar number". This will give the users the option of not sharing their Aadhaar number at the time of authentication.
The authority has regulated the storage of Aadhaar number within various databases. "These are likely to be entities which require de-duplication for subsidy transfer, such as banks and government agencies". UIDAI has introduced Virtual ID (VID) that is a 16-digit randomly generated number. All authentication bodies have to fully migrate to the new system by June 1, and those failing to meet the deadline will face financial disincentives. This, UIDAI hopes, will ensure that no one, except the holder, can access the person's Aadhaar number. That's where the new concept of limited KYC comes in. There were further news reports of police reports being filed against the reporters, which were denied by UIDAI and MeitY. For any kind of verification with virtual ID, only name, address and photograph will be shared.
To avoid the chance of an Authentication User Agency (AUA) misusing access to the massive database with the Aadhaar details of a billion people, the UIDAI has split them into two-Global AUAs and Local AUAs. Instead, they will get a tokenised number issued by UIDAI to identify their customers.
- Authentication may be performed using VID in a manner similar to using Aadhaar number. The UID Token will be a 72-character alphanumeric string meant only for system usage. New security layer is like locking the stable after horses have bolted. "UIDAI needs to re-issue fresh Aadhaar numbers to solve the problem, which is highly unlikely", said Srinivas Kodali, an independent data security researcher, to Medianama, a portal for information and analysis on digital and telecom businesses in India.
He was reacting to filing of an FIR on The Tribune newspaper report relating to Aadhaar data breach. The Punjab and Haryana High Court is scheduled to hear a PIL against UIDAI for this data leak today.
In 2010, over 200 government agencies (with access to the accounts) accidentally published sensitive Aadhaar info online, and since 2015, banking fraud has run rampant on Aadhaar users, with identity thieves attempting to open bank accounts in their names.
Even the new virtual ID wouldn't undo the damage done by the UIDAI head himself, experts say.
Banco De Chile (BCH) Hits New 1-Year High at $102.11
Finally, Credit Suisse Group restated a "hold" rating on shares of Banco De Chile in a research report on Friday, December 22nd. Zacks Investment Research lowered Banco De Chile from a "hold" rating to a "sell" rating in a report on Tuesday, January 2nd.
Traders Buy Stryker (SYK) on Weakness
State Treasurer State Of Michigan stated it has 268,925 shares. (NYSE:DVN) stake by 226,725 shares and now owns 401,450 shares. Riverhead Capital Mgmt Lc, a Delaware-based fund reported 14,224 shares. 4,965 shares were sold by Keel Paul A, worth $1.02M.
Xilinx (XLNX) Raised to Buy at Goldman Sachs Group
Zacks Investment Research downgraded shares of Xilinx from a buy rating to a hold rating in a report on Monday, October 30th. The Santa Barbara Asset Management Llc holds 1.19M shares with $168.45 million value, up from 1.18 million last quarter.