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The Supreme Court on Thursday observed that Aadhaar cannot stop bank frauds, adding, officials seemingly are hand in glove with the fraudsters.

The top court's five-judge Constitution bench, headed by Chief Justice of India Dipak Misra, also observed that the Aadhaar can do little to stop it.

The Central government has made it mandatory for all financial institutions, including banks, to verify and link Aadhaar of the customers with their accounts.