FRI was introduced by the Department of Telecommunications (DoT) to combat cyber fraud and financial crime.
About Financial Fraud Risk Indicator (FRI)
- A risk-assessment tool to identify mobile numbers potentially involved in financial fraud.
- It is a multi- dimensional analytical tool developed as part of the Digital Intelligence Platform (DIP).
- Mechanism: Classification of numbers into risk categories: Medium, High, or Very High, using inputs from banks, telecom service providers, law-enforcement agencies, and citizen reports.
- Utility: Enables banks and financial institutions to generate early alerts, apply enhanced due diligence and prevent fraudulent transactions.
About Digital Intelligence Platform (DIP)
- A secure, real-time data-sharing platform connecting telecom operators, banks, fintech entities and government agencies.
- Coverage: Onboarding of a large number of financial institutions for coordinated cyber fraud detection.
- It has about 1000+ organizations that include central security agencies, 36 State/UT Police, banks, financial institutions, Social media platforms like WhatsApp, etc.
- Utility: Faster intelligence exchange to detect and disrupt misuse of telecom identifiers.
Other Key Initiatives taken to prevent Cyber Fraud
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