How is the Centre safeguarding mobile users with the ‘Financial Fraud Risk Indicator’?
Click to start listening
Synopsis
The Centre's new initiative, the Financial Fraud Risk Indicator (FRI), aims to enhance mobile user security against cyber fraud. This innovative tool, part of the Digital Intelligence Platform, provides actionable insights to financial institutions, enabling them to combat financial crimes effectively. Discover how this tool can protect millions of mobile users across India.
Key Takeaways
- The Financial Fraud Risk Indicator is designed to combat mobile cyber fraud.
- It categorizes mobile numbers based on risk levels.
- Leading UPI platforms are adopting this tool for better security.
- The initiative aims to protect millions of users across India.
- DoT is committed to ensuring a secure telecom ecosystem.
New Delhi, May 21 (NationPress) In a significant move to counteract cyber fraud and financial crimes through mobile devices, the Department of Telecommunications (DoT) announced the rollout of the “Financial Fraud Risk Indicator (FRI)” to its partners on Wednesday.
This comprehensive analytical tool, created as part of the Digital Intelligence Platform (DIP), equips financial institutions with proactive, actionable intelligence aimed at preventing cyber fraud.
The tool enhances cybersecurity and validation checks for mobile numbers flagged when a digital payment is attempted, according to the Ministry of Communications.
It is a risk-based metric that categorizes a mobile number based on its association with Medium, High, or Very High risks of financial fraud.
Major UPI platforms, including PhonePe, Paytm, and Google Pay, which together process over 90% of UPI transactions, have started incorporating DIP alerts into their operations.
According to the Ministry, “One of the prominent UPI platforms has implemented transaction delays, requiring alerts and user confirmations. Other banks are also leveraging this data to combat cyber fraud.”
As UPI remains the favored payment method across India, this initiative could protect millions from cyber fraud. The FRI enables prompt, targeted, and collaborative measures against suspected fraud in both telecommunications and finance.
The Digital Intelligence Unit (DIU) of the DoT routinely shares lists of mobile numbers that have been disconnected with stakeholders, along with the reasons for disconnection—such as involvement in cyber-crime, failed re-verification, and exceeding set limits. These numbers are frequently utilized for financial fraud.
Once a suspicious mobile number is flagged by a stakeholder, it undergoes multi-dimensional analysis, classifying it as having Medium, High, or Very High financial risk. This assessment is then promptly communicated to all stakeholders via DIP.
DoT is dedicated to preventing the misuse of telecommunications resources by implementing nationwide technology-driven solutions and collaborating with stakeholders, thereby ensuring a secure and safe telecom environment for all citizens.
Point of View
I believe the introduction of the Financial Fraud Risk Indicator is a crucial advancement in our ongoing battle against cyber fraud. This initiative reflects the government's commitment to safeguarding its citizens in an increasingly digital world. By leveraging technology, we can create a more secure environment for mobile users across the nation.
NationPress
08/06/2025
Frequently Asked Questions
What is the Financial Fraud Risk Indicator?
The Financial Fraud Risk Indicator (FRI) is a multi-dimensional analytical tool developed by the Department of Telecommunications to help financial institutions identify and prevent cyber fraud related to mobile transactions.
How does the FRI classify mobile numbers?
The FRI classifies mobile numbers based on their risk of financial fraud into categories of Medium, High, or Very High risk.
Which platforms are integrating the FRI?
Major UPI platforms such as PhonePe, Paytm, and Google Pay are integrating the FRI alerts to enhance their fraud prevention measures.
How can the FRI protect users?
By flagging potentially risky mobile numbers, the FRI allows for immediate action and enhanced validation checks, ultimately protecting users from financial fraud.
Is the FRI part of a larger initiative?
Yes, the FRI is part of the Digital Intelligence Platform (DIP), which aims to provide comprehensive cybersecurity solutions for financial transactions.
