Financial Fraud Risk Indicator

Launch of Financial Fraud Risk Indicator by DoT

The Department of Telecommunications (DoT) has introduced the Financial Fraud Risk Indicator (FRI), a metric that categorizes mobile numbers based on their risk of financial fraud. This tool aids banks, Non-Banking Financial Companies (NBFCs), and UPI service providers in prioritizing customer protection measures. The Reserve Bank of India (RBI) has

Cyber Fraud

RBI Advises Banks to Integrate DoT’s Financial Fraud Risk Indicator

The Reserve Bank of India has directed all banks to integrate the Financial Fraud Risk Indicator (FRI) developed by the Department of Telecommunications (DoT) to combat cyber-enabled financial fraud. The FRI classifies mobile numbers based on their risk of financial fraud, allowing banks to take preventive measures in real-time. This