Delhi, 2 July (H.S.): The Department of Telecommunications (DoT) has endorsed the Reserve Bank of India's (RBI) advisory from June 30, 2025, mandating all commercial banks to integrate the Financial Fraud Risk Indicator (FRI) into their systems. This initiative marks a significant step in combating cyber-enabled financial fraud, emphasizing the importance of collaboration among various agencies. The FRI, launched in May 2025 by DoT's Digital Intelligence Unit (DIU), classifies mobile numbers based on their associated risk of financial fraud. Inputs for this classification come from stakeholders, including the National Cybercrime Reporting Portal (NCRP) and various banks, which helps prioritize protective measures for high-risk numbers.

By utilizing FRI in real-time, banks can prevent fraudulent activities by declining suspicious transactions, issuing alerts to customers, and scrutinizing flagged transactions. Major institutions like PhonePe, Punjab National Bank, and HDFC Bank have already implemented this system, enhancing defenses against cyber fraud in the widely used UPI payment method. DoT is committed to aiding financial institutions in using technology-driven solutions like FRI to enhance digital trust and security, furthering the Digital India vision.

Through ongoing collaboration with RBI-regulated entities, DoT aims to streamline fraud detection and integrate telecom intelligence into banking processes. As the adoption of FRI grows among financial institutions, it is expected to establish a standard across the sector, enhancing trust and enabling swift action against fraud in India's digital financial landscape.

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Hindusthan Samachar / Jun Sarkar