New Delhi: The Financial Fraud Risk Indicator (FRI) has helped prevent the financial loss of Rs 660 crore in cyber fraud across the banking ecosystem in just six months since its rollout, the Department of Telecommunications (DoT) said on Monday.
The FRI is driven by active support of the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI), leading to large-scale onboarding of banks, financial institutions, and Third-Party Application Providers (TPAPs) on the Digital Intelligence Platform (DIP).
As on date, more than 1,000 banks, TPAPs, and Payment System Operators (PSOs), have onboarded the DIP and started adopting FRI actively. DoT is also conducting regular knowledge-sharing sessions with stakeholders to enhance awareness and effective implementation of FRI, with 16 sessions held till date, according to the Ministry of Communications.
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India’s cybercrime landscape has shifted dramatically in recent years, with fraudsters operating like well-organized digital cartels. From digital arrest scams to sophisticated SIM-box networks bypassing legal telecom routes, the threat is evolving faster than ever.
Yet, amid this complexity, one factor has emerged as the most decisive force in combating cybercrime: Jan Bhagidari. Citizens, through Sanchar Saathi, which has emerged as India’s most powerful crowdsourced cyber-intelligence tool, are providing continuous inputs for Financial Fraud Risk Indicator.
DoT acknowledges and appreciates the efforts of all vigilant citizens and Cyber Warriors who are actively leveraging the Sanchar Saathi platform (available at www.sancharsaathi.gov.in and through mobile App on both Android and iOS) to report Suspected Fraud Communications, report fraudulent connections obtained in their name, and lost/stolen mobile handsets.
The recent trends in downloads and usage of the Sanchar Saathi mobile App reflects the trust reposed by citizens in the platform and their proactive role in preventing cyber frauds. This large-scale citizen engagement is significantly contributing in curtailing the misuse of telecom resources by fraudsters and creating a safer and more resilient digital ecosystem.
“DoT urges all the citizens to utilise Sanchar Saathi web portal and Mobile App for availing the citizen centric services. DoT reiterates its commitment to fostering a secure digital payments ecosystem through inter-agency collaboration, proactive fraud detection, and intelligence-driven policy interventions,” said the ministry.
