DoT prevents suspected cyber fraud losses of more than 5000 cr through FRI

 
The Department of Telecommunications has helped prevent suspected cyber fraud losses of more than five thousand crore rupees through its Financial Fraud Risk Indicator (FRI) within fifteen months of its launch. FRI is a multi-dimensional analytical framework launched on 22nd of May last year under its Digital Intelligence Platform to provide financial institutions with actionable, real-time intelligence for cyber fraud prevention.
 
The Ministry of Communications has said that the milestone marks a decisive scaling-up of an initiative that had prevented 660 crore rupees of losses in its first six months of operation. It reflects the growing role of telecom intelligence in shielding citizens from digital financial fraud, and the strength of coordinated action across the telecom, banking, fintech, securities, insurance and law enforcement ecosystems.The FRI is an innovative risk-assessment framework developed by DoT to help financial institutions assess in real time, the likelihood that a mobile number may be associated with cyber-crime or financial fraud.