- Digitalise the Records of Registrar of Births and Deaths and integrate with Aadhar Data Base in such a way that immediately on the Date of Registration of Death of any person – the UIDAI database will send signals to all other services like Banking, Insurance, PAN, PRAN, UAN, LPG Subsidy – to immediately put a Freeze on usages of the Services by unauthorized persons.
- Allow Nomination Facilities in DigiLocker, All Digi Assets
Such an arrangement will immediately stop the following types of frauds:
- Unauthorized withdrawal of money through ATM, Net Banking from Deceased Account.
- Selling of Shares and Securities from Demat Accounts of Deceased Persons.
- Transferring e-Properties even after Death without going through the Succession Process.
- The list is long and unending…..
Precautions to be Taken by immediate Legal Heirs:
- First of all wherever possible the accounts should be opened in the Joint Names with “Either or Survivor” mandate supported by Nomination by each Joint Account Holder.
- Wife, Son, Daughter or immediate kin should take the custody of the Mobile and SIM of the Deceased. In the times to come, even the Network Providers will make provisions for Nomination in respect of SIM of the Deceased Person for a limited period of say 6 to 12 months to carry out the necessary Transfers of Portfolios to the Legal Heirs.
More Research is done by the author and likely impacts of digitalization will be covered while updating this article in the near future.