US EditionRBI Advises Banks to Integrate DoT's Financial Fraud Technology
- The Reserve Bank of India advised all banks to integrate the Financial Fraud Risk Indicator developed by the Department of Telecommunications to combat online fraud, as stated in an official announcement.
- The Financial Fraud Risk Indicator categorizes mobile numbers based on their risk level for financial fraud and utilizes data from various sources, including the Indian Cyber Crime Coordination Centre.
- Leading institutions like PhonePe and HDFC Bank have already implemented the Financial Fraud Risk Indicator in their systems, indicating its utility following its May 2025 launch by the Digital Intelligence Unit.
- The Department of Telecommunications emphasized that this initiative marks a crucial step in fighting cyber-enabled financial fraud in India's digital economy.
16 Articles
16 Articles
RBI Advises Banks to Integrate DoT'??s Financial Fraud Technology
Get latest articles and stories on India at LatestLY. The Reserve Bank of India has advised all banks to integrate the Financial Fraud Risk Indicator tool developed by the Department of Telecom to curb online fraudulent transactions, an official statement said on Wednesday. India News | RBI Advises Banks to Integrate DoT'??s Financial Fraud Technology.
Parliamentary Committee Meeting on Cyber Fraud: MPs from various parties on Thursday (July 3) expressed concern over the incidents of cyber crime, especially financial frauds targeting innocent people. The Director of the Central Bureau of Investigation (CBI), Director General of the National Investigation Agency (NIA) and senior officials of various ministries appeared before a parliamentary committee on Thursday (July 3). According to sources,…
RBI Mandates Banks to Use DoT Tool in Fight Against Cyber Frauds
The RBI has instructed banks and payment institutions to incorporate the telecom department's (DoT) financial fraud risk indicator (FRI) into their systems in light of the increasing number of cybercrimes.The RBI guideline, released on June 30, seeks to use cutting-edge technologies to combat cybercrime. The DoT hailed the action as a turning point. In a statement, the DoT claimed that the RBI's directives mark a turning point in the battle agai…
RBI issues advisory to banks for integration of DoT’s Financial Fraud Risk Indicator - The Press United | International News Analysis, Viewpoint
The Department of Telecommunications (DoT) welcomes the Reserve Bank of India’s (RBI) advisory issued on June 30, directing all Scheduled Commercial Banks, Small Finance Banks, Payments Banks and Co-operative Banks to integrate the Financial Fraud Risk Indicator (FRI) developed by DoT into their systems. This major step is expected to strengthen efforts to curb cyber-enabled […] The post RBI issues advisory to banks for integration of DoT’s Fina…
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