Please note, this is a STATIC archive of website www.coindesk.com from 28 Feb 2023, cach3.com does not collect or store any user information, there is no "phishing" involved.
The dangers of letting Facebook control your online identity are clear. One alternative would use your Ethereum wallet instead, and let you control your own data.
India’s Aadhaar structure, a biometric, digital and physical identity system, is the world’s largest ID system and exists entirely centralized, bringing up serious privacy concerns.
Banks will have to deny services to clients that do not comply with ID verification requirements or fail to report suspicious activity to the FSC's anti-money laundering unit.