Overview

• On June 30, the RBI advised all scheduled commercial, small finance, payments and co-operative banks to integrate the Financial Fraud Risk Indicator into their systems.
• Launched in May by DoT’s Digital Intelligence Unit, the tool classifies mobile numbers as medium, high or very high risk of financial fraud.
• Its risk scores draw on data from the National Cybercrime Reporting Portal, DoT’s Chakshu platform and intelligence shared by banks and financial institutions.
• Leading UPI platforms and banks including PhonePe, HDFC Bank and ICICI Bank are using FRI to block or delay high-risk transactions and send customer alerts in real time.
• API-based integration with DoT’s Digital Intelligence Platform enables continuous feedback loops that refine risk models and strengthen inter-agency fraud prevention.