To combat cyber fraud related to mobile devices, the Department of Telecommunications (DoT) launched the Financial Fraud Risk Indicator (FRI)

Regarding the Financial Fraud Risk Indicator (FRI):

What does FRI mean?

FRI is a comprehensive analytical tool that highlights mobile numbers according to their potential involvement in financial fraud.

Inaugurated By: Created and rolled out by the Department of Telecommunications (DoT) under the Ministry of Communications.

Objective: To offer proactive insights to financial institutions and thwart cyber-related financial fraud.

Main Characteristics:

Risk Classification: Classifies mobile numbers into Medium, High, or Very High risk categories.

Integration with Digital Payments: Notifies banks and UPI platforms if a flagged number is part of a transaction.

Stakeholder Empowerment: Allows banks, NBFCs, and payment service providers to implement further customer protection initiatives.

Proactive Cyber Shield: Serves as a pre-transaction verification tool to minimize fraud attempts.

Real-time Application: Operates in conjunction with fraud detection systems and verification methods.