How are DoT and FIU Collaborating to Combat Cyber and Financial Frauds?
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Synopsis
In an unprecedented collaboration, the Department of Telecommunications and the Financial Intelligence Unit-India have inked a pact aimed at curbing cyber-crimes. This new partnership promises to bolster data sharing and improve fraud detection, setting a national standard while ensuring the safety of digital payments.
Key Takeaways
- MoU between DoT and FIU to combat fraud.
- Real-time information exchange for quicker action.
- Focus on inter-agency collaboration.
- Use of modern technology to enhance efficiency.
- Standardized procedures for better fraud detection.
New Delhi, Sep 25 (NationPress) In a significant move to combat cyber-crimes and financial frauds, the Department of Telecommunications (DoT) and the Financial Intelligence Unit-India (FIU-IND) have joined forces by signing a Memorandum of Understanding (MoU) aimed at enhancing data sharing and collaboration.
This agreement enables both entities to exchange information in real-time, facilitating quicker identification and action against fraudsters.
The MoU was executed by Sanjeev Kumar Sharma, Deputy Director General (AI & Digital Intelligence Unit - DIU), DoT, and Amit Mohan Govil, Director, FIU-IND, with Telecom Secretary Neeraj Mittal and Revenue Secretary Arvind Shrivastava in attendance.
During the event, Mittal emphasized the necessity for government agencies to collaborate beyond their traditional boundaries.
“While technology has empowered each department to achieve its individual objectives, genuine advancement lies in fostering synergies and learning from one another. Forming a joint working group could be the next step to pinpoint shell companies and conduct more thorough investigations,” he remarked.
Shrivastava noted that this partnership is expected to enhance both the precision and speed of fraud detection.
“This collaboration is a remarkable alliance where both sides will fortify each other’s frameworks. I am optimistic that leveraging technology will yield high efficiency,” he stated.
Under the MoU, FIU will relay mobile numbers associated with suspicious transactions, while DoT will share information regarding mobile numbers that have been deactivated due to fraudulent activities.
Data will be exchanged through secure, technology-driven avenues like DoT’s Digital Intelligence Platform (DIP) and FIU’s Finnex 2.0 portal.
This partnership aims to mitigate financial crimes by flagging potentially risky mobile numbers before they can be exploited for fraud.
It will also empower banks and financial institutions to conduct more rigorous risk assessments while processing digital payments.
India’s digital payment infrastructure has expanded rapidly in recent years, consequently making it an appealing target for cyber fraudsters.
According to DoT, initiatives like Sanchar Saathi have already succeeded in blocking 2.84 crore fraudulent mobile connections.
Utilizing the Financial Fraud Risk Indicator (FRI) system, banks have managed to halt 48 lakh suspicious transactions, averting a loss of Rs 140 crore.
The new agreement will also establish standardized procedures for data sharing and feedback, thereby enhancing national-level fraud detection. Both DoT and FIU are committed to continuously updating their strategies to tackle evolving cyber threats.
Point of View
I believe that the collaboration between DoT and FIU is a necessary evolution in our fight against cyber fraud. Emphasizing inter-agency cooperation is crucial for developing a robust defense against ever-evolving threats. This initiative not only enhances our capabilities but also reinforces public trust in our digital infrastructure.
NationPress
25/09/2025
Frequently Asked Questions
What is the purpose of the MoU signed between DoT and FIU?
The MoU aims to enhance data sharing and coordination between DoT and FIU to effectively combat cyber-crimes and financial frauds.
How will this collaboration improve fraud detection?
By enabling real-time information exchange, both agencies can quickly identify fraudulent activities and take appropriate action.
What specific data will be shared under the MoU?
FIU will share mobile numbers linked to suspicious transactions, while DoT will provide details of mobile numbers disconnected due to fraud.
What technologies will be used in this partnership?
Data will be exchanged through secure platforms like DoT's Digital Intelligence Platform and FIU's Finnex 2.0 portal.
What impact has the Sanchar Saathi initiative had?
The initiative has successfully blocked 2.84 crore fraudulent mobile connections, showcasing the effectiveness of proactive measures against fraud.
