India's DoT Shield Saves ₹1,400 Crore from Financial Fraud

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AuthorSatyam Jha|Published at:
India's DoT Shield Saves ₹1,400 Crore from Financial Fraud
Overview

India's Department of Telecommunications (DoT) has blocked an estimated ₹1,400 crore in potential financial fraud since launching its Financial Fraud Risk Indicator (FRI). Minister Jyotiraditya Scindia revealed the system flags high-risk mobile numbers, enabling banks and UPI providers to implement safeguards. The initiative, part of the Digital Intelligence Platform, leverages AI and stakeholder collaboration to combat increasingly sophisticated scams.

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DoT's Financial Fraud Indicator Halts ₹1,400 Crore in Losses

The Department of Telecommunications' (DoT) Financial Fraud Risk Indicator (FRI) has prevented potential financial losses exceeding ₹1,400 crore since its launch. Union minister Jyotiraditya Scindia informed the Rajya Sabha on Thursday that the risk-scoring system flags mobile phone numbers as having medium, high, or very high fraud probability.

Safeguarding Digital Transactions

This flagging mechanism empowers banks, non-banking financial companies (NBFCs), and Unified Payments Interface (UPI) providers to deploy real-time safeguards. These measures include alerts, transaction delays, warnings, and the outright rejection of suspicious transactions, thereby protecting consumers and financial systems.

Digital Intelligence Platform at Work

The FRI operates as a risk-based metric within the DoT's Digital Intelligence Platform (DIP). This platform connects over 1,200 stakeholders, including police forces from all states and union territories, central agencies, the Indian Cyber Crime Coordination Centre, payment operators, and telecom service providers. Through the DIP, stakeholders share suspected fraud numbers, which the DoT then analyzes for rapid intervention.

AI and Spoofing Prevention Tools

Further fraud prevention techniques are integrated into the DIP. The ASTR AI tool has identified suspicious connections, prompting major telecom providers to disconnect more than 8.8 million numbers after reverification. Additionally, the International Incoming Spoofed Calls Prevention System, operational since late 2024, has drastically reduced international spoofed calls mimicking Indian numbers by nearly 99%. This system blocked 13.5 million such calls in a single day, significantly enhancing India's cybersecurity posture.

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