How has DoT’s Financial Fraud Risk Indicator Prevented Rs 660 Crore in Cyber Fraud?
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Synopsis
The Financial Fraud Risk Indicator (FRI) has made a remarkable impact by preventing Rs 660 crore in cyber fraud within just six months of its launch. This initiative by the Department of Telecommunications, supported by key institutions, showcases the power of citizen involvement in the fight against digital crime.
Key Takeaways
- FRI has prevented Rs 660 crore in cyber fraud.
- Over 1,000 institutions are utilizing the FRI.
- Collaboration with RBI and NPCI is key.
- Citizen engagement through Sanchar Saathi is crucial.
- Ongoing knowledge-sharing sessions enhance awareness.
New Delhi, Dec 22 (NationPress) The Financial Fraud Risk Indicator (FRI) has successfully averted a staggering financial loss of Rs 660 crore due to cyber fraud within the banking sector in merely six months since its introduction, the Department of Telecommunications (DoT) announced on Monday.
Powered by the robust collaboration of the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI), the FRI has facilitated the widespread onboarding of banks, financial institutions, and Third-Party Application Providers (TPAPs) on the Digital Intelligence Platform (DIP).
To date, over 1,000 banks, TPAPs, and Payment System Operators (PSOs) have joined the DIP and are actively implementing the FRI.
In addition, the DoT is conducting ongoing knowledge-sharing sessions with stakeholders to improve awareness and effective application of the FRI, having conducted 16 sessions so far, according to the Ministry of Communications.
India's cybercrime landscape has transformed significantly in recent years, with fraudsters now functioning like highly organized digital syndicates. From digital arrest scams to advanced SIM-box networks evading legal telecom routes, the threat is evolving at an unprecedented pace.
Yet, amidst this chaos, one element has emerged as the most potent weapon against cybercrime: Jan Bhagidari. Citizens, via Sanchar Saathi, have evolved into India’s most formidable crowdsourced cyber-intelligence tool, continuously supplying inputs for the Financial Fraud Risk Indicator.
The DoT recognizes and commends the efforts of all vigilant citizens and Cyber Warriors who are actively utilizing the Sanchar Saathi platform (accessible at www.sancharsaathi.gov.in and via mobile App on both Android and iOS) to report suspected fraudulent activities, fraudulent connections registered in their names, and lost or stolen mobile devices.
The recent surge in downloads and usage of the Sanchar Saathi mobile App reflects the trust citizens place in this platform and their proactive engagement in the fight against cyber fraud.
This extensive citizen involvement is playing a crucial role in diminishing the exploitation of telecom resources by fraudsters and fostering a more secure and resilient digital environment.
“The DoT implores all citizens to leverage the Sanchar Saathi web portal and Mobile App for accessing citizen-centric services. The DoT reaffirms its dedication to nurturing a secure digital payments ecosystem through coordinated agency collaboration, proactive fraud detection, and intelligence-driven policy actions,” stated the ministry.
Point of View
The Financial Fraud Risk Indicator is a significant step towards safeguarding the financial ecosystem in India. It underscores the importance of collaborative efforts between government entities and informed citizens in mitigating cyber threats. The proactive approach taken by the Department of Telecommunications and its partners reflects a commitment to a secure digital future.
NationPress
23/12/2025
Frequently Asked Questions
What is the Financial Fraud Risk Indicator?
The Financial Fraud Risk Indicator (FRI) is a tool launched by the Department of Telecommunications to prevent financial losses due to cyber fraud in the banking ecosystem.
How much money has the FRI helped prevent in cyber fraud?
The FRI has helped prevent a staggering Rs 660 crore in cyber fraud within six months of its implementation.
Who supports the Financial Fraud Risk Indicator?
The FRI is supported by the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI).
How can citizens contribute to combating cyber fraud?
Citizens can report suspicious activities through the Sanchar Saathi platform, helping to provide inputs for the Financial Fraud Risk Indicator.
What is Sanchar Saathi?
Sanchar Saathi is a crowdsourced cyber-intelligence tool that allows citizens to report fraudulent communications and activities.
