Hi i have given digital signature certificates to CA,... if he misuse it,... can he transfer my property and bank money in his account?
1)your CA cannot transfer property and funds from your bank account in his name by using digital signature
2) transfer of property is required to be jut stamped and regd
3) your physical presence would be required with identity proof for registration purposes
A cryptographic system that uses two keys, a public key known to everyone and a private key, the private key has full control to the key owner, and has to keep in secured environment. A unique element to the public key system is that the public and private keys are related in such a way that only the public key can be used to encrypt messages and only the corresponding private key can be used to decrypt them. Moreover, it is virtually impossible to deduce the private key if you know the public key.
A digital signature is a mathematical technique used to validate the authenticity and integrity of a message, software or digital document.
Digital signatures are based on public key cryptography, also known as asymmetric cryptography.
So your Carted accountant cannot transfer property and funds from your bank account in his name by using digital signature.Property can transfer only through power of attorney or any deed of registration. physical presence must be required for that purpose
what about fund transfer from my bank account to his bank,... by using my digital signature certificates? as it is my signature [digital] does it not give him power to transfer my fund to his account,...? [he is aware of all fund details in my account, as he is Auditing] because in bank only signature is required and i read on internet that i cannot deny use of digital signature certificate in court [if digital signatures are used]
Digital Signature Certificates (DSCs) are the digital equivalent (i.e electronic format) of physical or paper certificates
2) Digital Signature Certificate can be presented electronically to prove your identity, to access information or services on the Internet or to sign certain documents digitally.
3) Once you have successfully registered DSC, you will need it every time as additional layer of security for your online banking transactions.
4) it can be used for inter bank transfer of funds
Hi
Digital signatures are NOT valid for property transfers.
For banking transactions through internet and mobile banking as per RBI guidelines banks need to follow two factor authentication system. ( digital signature plus one time password/per transaction).
Though there is minimal to moderate protection to you because of two factor authentication system, our advise will be NOT TO SHARE your digital signature with external persons (including auditors) .
Hope this helps
Transfer of immovable property shall be made only by a registered document/deed, for that the transferor or his power agent has to be present before the concerned registrar for executing and signing before him/her. The digital signatures are not accepted by the registrar office.
If you suspect that he would transfer the money held in bank, you can immediately issue instructions to bank to stop payment from immediate forthwith if any instrument presented before it with your digital signature and not to entertain any such request without your physical signature in the future too.
what about fund transfer from my bank account to his bank,...
by using my digital signature certificates?
You can follow the steps suggested in my previous reply.
and i read on internet that i cannot deny use of digital signature certificate in court [if digital signatures are used]
Therefore you have to immediately give instructions to bank to not to entertain any transaction with your digital signature and to entertain the instruments with your physical signature alone.
You may withdraw the digital signature given to the auditor immediately.
Yes this can be done. I know some cases in which CAs forged the digital signatures to shift money from the account. However, an immovable property cannot be transferred on the basis of a digital certificate as the seller has to go to the office of sub-registrar to execute the sale deed in buyer's favour and sign it in ink.
