{"id":352313,"date":"2025-07-03T18:00:02","date_gmt":"2025-07-03T12:30:02","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=352313"},"modified":"2025-07-03T18:18:51","modified_gmt":"2025-07-03T12:48:51","slug":"dot-welcomes-rbi-adivsory-on-financial-fraud-risk-indicator","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2025\/07\/03\/dot-welcomes-rbi-adivsory-on-financial-fraud-risk-indicator\/","title":{"rendered":"RBI Advises Banks to Integrate DoT\u2019s Financial Fraud Risk Indicator: A step to control cyber- enabled financial frauds"},"content":{"rendered":"<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"margin-bottom: 3%;\">On 30-06-2025, the <span style=\"font-weight: bold;\">Reserve Bank of India\u2019s (\u2018RBI\u2019)<\/span> issued advisory directing all Scheduled Commercial Banks, Small Finance Banks, Payments Banks, and Co-operative Banks to integrate the <span style=\"font-weight: bold;\">Financial Fraud Risk Indicator<\/span> developed by <span style=\"font-weight: bold;\">Department of Telecommunications (\u2018DoT\u2019)<\/span> into their systems to fight against cyber-enabled financial frauds.<\/p>\n<p style=\"margin-bottom: 3%;\">DoT welcomed this watershed moment in the fight against cyber-enabled financial frauds that underscores the strategic importance of automating data exchange between banks and DoT&#8217;s DIP through API-based integration, enabling real-time responsiveness and continuous feedback to further refine the fraud risk models.<\/p>\n<h3>What is \u201cFinancial Fraud Risk Indicator\u201d?<\/h3>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">\u2713 The <span style=\"font-weight: bold;\">DoT\u2019s Intelligence Unit (\u2018DIU\u2019)<\/span> launched Financial Fraud Risk Indicator in May 2025.<\/p>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">\u2713 It is a risk-based metric that classifies a mobile number to have been associated with a Medium, High, or Very High risk of financial fraud.<\/p>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">\u2713 Financial Fraud Risk Indicator is:<\/p>\n<ul style=\"list-style-type: disc; margin-left: 36pt;\">\n<li>A key technology-led, nationally coordinated solution for combating fraud;<\/li>\n<li>Initiative representing new era of digital trust and scrutiny in India\u2019s financial ecosystem;<\/li>\n<\/ul>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">\u2713 The classification was an outcome of inputs obtained from various stakeholders including reporting on <span style=\"font-weight: bold;\">Indian Cyber Crime Coordination Centre, National Cybercrime Reporting Portal, DoT\u2019s Chakshu platform, and Intelligence shared by banks and financial institutions.<\/span><\/p>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">\u2713 It empowered stakeholders, such as banks, Non-Banking Financial Companies, and <span style=\"font-weight: bold;\">Unified Payment Interface (\u2018UPI\u2019)<\/span> service providers, to prioritize enforcement and take additional customer protection measures in case a mobile number has high risk.<\/p>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">\u2713 The <span style=\"font-weight: bold;\">Mobile Number Revocation List (\u2018MNRL\u2019)<\/span> is regularly shared by the DIU with stakeholders which details numbers disconnected due to cybercrime links, failed re-verification, or misuse.<\/p>\n<h3>How will it help Banks to prevent Cyber fraud?<\/h3>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">\u2713 Financial Fraud Risk Indicator can be used by banks and financial institutions in real time, which helps in declining suspicious transactions and issuing alerts or warnings to customers and delaying transactions flagged as high risk.<\/p>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">\u2713 Presently, the following leading institutions are actively using Financial Fraud Risk Indicator PhonePe, Punjab National Bank, HDFC Bank, ICICI Bank, Paytm, and India Post Payments Bank.<\/p>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">\u2713 Financial Fraud Risk Indicators integration with UPI, being most preferred payment method, can help protect millions of UPI users from cyber fraud.<\/p>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">\u2713 Collaboration with RBI- regulated financial institutions streamlined alert mechanisms and accelerate fraud detection.<\/p>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">\u2713 Financial Fraud Risk Indicator enures swift and targeted action and enables collaborative efforts between telecom and financial sectors to combat fraud.<\/p>\n<p style=\"margin-left: 36pt; text-indent: -18pt;\">\u2713 Financial Fraud Risk Indicator is anticipated to evolve into a <span style=\"font-weight: bold;\">sector-wide standard<\/span>, ensuring a consistent approach to fraud detection across the financial and telecom sectors.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p style=\"font-style: italic;\">Financial Fraud Risk Indicator is a testament to the power of inter-agency collaboration in safeguarding citizens in India&#8217;s growing digital economy.<\/p>\n","protected":false},"author":67515,"featured_media":352322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[84680,84681,49708,29579,84685,84678,58618,84679,84683,84682,84684,84677],"class_list":["post-352313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-notifications","tag-combating-fraud","tag-cyber-fraud-prevention","tag-department-of-telecommunications","tag-dot","tag-dots-chakshu-platform","tag-financial-fraud-risk-indicator","tag-financial-frauds","tag-fri","tag-indian-cyber-crime-coordination-centre","tag-mobile-number-revocation-list","tag-national-cybercrime-reporting-portal","tag-rbi-advisory"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - 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initiated by RBI to prevent fraudulent use of debit cards","author":"Saba","date":"December 2, 2016","format":false,"excerpt":"RBI has informed that number of debit cards outstanding at the end of August 2016 was 71.2 crore. RBI has informed that frauds related to ATM\/Debit cards is 1328 and amount involved is Rs. 6 crore for the period April 2016 to June 2016.\u00a0The measure initiated by RBI to prevent\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":225202,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/02\/05\/in-lok-sabha-session-steps-taken-by-ministry-of-home-affairs-to-prevent-online-financial-frauds-and-protect-users\/","url_meta":{"origin":352313,"position":1},"title":"In Lok Sabha Session | Steps taken by &#8212; Ministry of Home Affairs to prevent online financial frauds and protect users","author":"Bhumika Indulia","date":"February 5, 2020","format":false,"excerpt":"Union Minister of State for Home Affairs, Shri G Kishan Reddy, in a written reply in Lok Sabha to a question regarding steps taken by the Government to prevent people from becoming victims of online fraud, said that with the rapid increase in use of cyber space, the number of\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":288115,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/03\/29\/banks-must-hear-borrowers-before-classifying-them-as-fraud-civil-death-supreme-court-rbi-reserve-bank-india-legal-research-knowledge-news\/","url_meta":{"origin":352313,"position":2},"title":"Banks must hear borrowers before classifying their accounts as fraud as it may lead to its \u2018civil death\u2019: Supreme Court","author":"Prachi Bhardwaj","date":"March 29, 2023","format":false,"excerpt":"The Supreme Court observed that principles of natural justice should be necessarily read into the provisions of the Master Directions on Frauds, to save it from the vice of arbitrariness.","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"fraud","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-911.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-911.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-911.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/03\/MicrosoftTeams-image-911.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":280640,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/12\/29\/rbi-notified-central-payments-fraud-information-registry-migration-of-reporting-to-daksh-for-reporting-payment-frauds-by-scheduled-commercial-banks-non-bank-prepaid-payment-instrument-issuers-to-strea\/","url_meta":{"origin":352313,"position":3},"title":"RBI announces Central Payments Fraud Information Registry- Migration of Reporting to DAKSH","author":"Editor","date":"December 29, 2022","format":false,"excerpt":"\u00a0 \u00a0 On 26-12-2022, the Reserve Bank of India (\u2018RBI\u2019) has announced the Central Payments Fraud Information Registry (\u2018CPFIR\u2019)- Migration of Reporting to DAKSH for reporting of payment frauds by scheduled commercial banks and non-bank Prepaid Payment Instrument issuers to streamline reporting, enhance efficiency and automate the payments fraud management\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"RBI","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/11\/MicrosoftTeams-image-334.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":326714,"url":"https:\/\/www.scconline.com\/blog\/post\/2024\/07\/17\/rbi-revises-master-directions-on-fraud-risk-management-in-regulated-entities-legal-news\/","url_meta":{"origin":352313,"position":4},"title":"RBI revises Master Directions on Fraud Risk Management in Regulated Entities; rescinds 36 Circulars","author":"Editor","date":"July 17, 2024","format":false,"excerpt":"The 2024 Master Directions are principle-based and have been issued to strengthen the role of the Board in overall governance as well as oversight of fraud risk management in Regulated Entities.","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"Reserve Bank of India","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/05\/Reserve-Bank-of-India.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/05\/Reserve-Bank-of-India.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/05\/Reserve-Bank-of-India.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/05\/Reserve-Bank-of-India.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":216932,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/07\/16\/reserve-bank-of-india-imposes-monetary-penalty-of-rs-7-crore-on-state-bank-of-india\/","url_meta":{"origin":352313,"position":5},"title":"Reserve Bank of India imposes monetary penalty of Rs 7 crore on State Bank of India","author":"Bhumika Indulia","date":"July 16, 2019","format":false,"excerpt":"Press Release The Reserve Bank of India (RBI) has imposed, by an order dated 15-07-2019, monetary penalty of 70 million on State Bank of India (the bank) for non-compliance with the directions issued by RBI on (i) Income Recognition and Asset Classification (IRAC) norms (ii) code of conduct for opening\u2026","rel":"","context":"In &quot;Business News&quot;","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/352313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67515"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=352313"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/352313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/352322"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=352313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=352313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=352313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}