Summary:

To combat cyber fraud, the Department of Telecommunications (DoT) launched the Financial Fraud Risk Indicator (FRI) under the Digital Intelligence Platform. This tool offers real-time risk ratings—Medium, High, or Very High—for mobile numbers used in digital transactions. Banks, NBFCs, and UPI platforms receive insights based on data from NCRP, Chakshu, and financial institutions, enabling early fraud detection and proactive intervention before payments are processed, strengthening India’s digital finance security.

The Digital Intelligence Unit (DIU) of DoT shares a Mobile Number Revocation List (MNRL) identifying numbers linked to cybercrime or verification failures. As fraud numbers are short-lived, the Financial Fraud Risk Indicator (FRI) offers early warnings. Major UPI platforms like PhonePe, Paytm, and Google Pay are integrating FRI. Measures include transaction blocks, alerts, and delays. DoT aims to make FRI a national standard to strengthen digital payment security.

Source: IBEF

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