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India Today
22-05-2025
- Business
- India Today
Govt will now decline UPI transactions to certain numbers, here is what you should know
The Indian government will now block UPI transactions initiated towards certain mobile numbers. The Department of Telecommunications (DoT) on Wednesday launched a new Financial Fraud Risk Indicator (FRI). This service will analyse mobile numbers and block transactions to numbers flagged as high-risk. According to the government, this new tool is designed to proactively detect and prevent financial crimes in the DoT says that the new FRI system is part of its broader Digital Intelligence Platform (DIP), aimed at creating a secure digital ecosystem for financial transactions. The primary objective of the FRI is said to be assisting banks, non-banking financial companies (NBFCs), and UPI service providers — including major players like PhonePe, Paytm, and Google Pay — in identifying risky transactions before they are completed. Notably, these platforms together manage over 90 per cent of the UPI transaction volume in will the Financial Fraud Risk Indicator work?The DoT explains that the FRI system will flag mobile numbers that have been reported or linked to cybercrime, failed verification processes, or regulatory breaches. It will then categorise these suspicious numbers into three levels of risk: Medium, High, and Very High. DOT explains that this categorisation of the mobile numbers will be done using data from the National Cybercrime Reporting Portal (NCRP), the DoT's Chakshu platform, and intelligence inputs from banks and other financial entities. This risk profile is shared in near real-time with stakeholders, allowing them to respond If a user attempts to transfer money to a mobile number tagged as 'Very High Risk,' the UPI app will automatically block the transaction and display a warning alert. Meanwhile, for numbers tagged as Medium risk, users will be shown a cautionary notification and may be asked to confirm the transaction platform is also introducing similar protective measures, such as delaying flagged transactions and prompting users for additional the FRI initiative comes at a time when cyber fraud incidents are rampant in India. Fraudsters are using different ways to trick people and often use newly activated SIM cards to run scams, deactivating them soon after, making it difficult for law enforcement to trace them in time. To counter this, the DoT's Digital Intelligence Unit (DIU) is also maintaining a Mobile Number Revocation List (MNRL). This data is said to be shared with financial institutions and includes numbers that have been disconnected for fraud-related say that as the lifespan of fraudulent mobile numbers is typically short, early detection is crucial. A number flagged by one platform can now be assessed and blocked across multiple UPI apps almost immediately.
India.com
22-05-2025
- India.com
Govts Big Measure For UPI Users; PhonePe, Paytm And Google Pay Users Must Check
photoDetails english 2904498 Updated:May 22, 2025, 09:43 AM IST 1 / 8 In a major step towards combating cyber fraud and financial crime, the Department of Telecommunications (DoT) has announced sharing of 'Financial Fraud Risk Indicator (FRI)' with stakeholders. It is a risk-based metric that classifies a mobile number to have been associated with Medium, High, or Very High risk of financial fraud. 2 / 8 This will enhance cyber protection and validation checks in case of mobile numbers flagged with this tool when digital payment is proposed to be made to such numbers. The multi- dimensional analytical tool developed as part of the Digital Intelligence Platform (DIP) to empower financial institutions with advance actionable intelligence for cyber fraud prevention. 3 / 8 This classification is an outcome of inputs obtained from various stakeholders including reporting on Indian Cybercrime Coordination Centre (I4C's) National Cybercrime Reporting Portal (NCRP), DoT's Chakshu platform, and Intelligence shared by banks and financial institutions. It empowers stakeholders-especially banks, NBFCs, and UPI service providers- to prioritize enforcement and take additional customer protection measures in case a mobile number has high risk. 4 / 8 The Digital Intelligence Unit (DIU) of DoT regularly shares the list of Mobile Numbers that were disconnected (Mobile Number Revocation List - MNRL) with stakeholders along with the reasons for disconnections viz. found involved in cyber-crime, failed re-verification, exceeding prescribed limits. These numbers are also usually used for financial frauds. 5 / 8 As the life of a mobile number that is misused in cyber frauds is generally few days, and full verification can take several days, an advance indicator on risk associated with such numbers is very useful. 6 / 8 As soon as a suspected mobile number is flagged by a stakeholder, it undergoes multi-dimensional analysis, and classifies it into Medium, High, or Very High financial risk associated with it. It then shares this assessment about the number immediately with all stakeholders through DIP. 7 / 8 Leading UPI platforms—PhonePe, Paytm and Google Pay, who collectively account for over 90% of UPI transactions, have begun integrating DIP alerts into their systems. 8 / 8 With UPI being the most preferred payment method across India, this intervention could save millions of citizens from falling prey to cyber fraud. The FRI allows for swift, targeted, and collaborative action against suspected frauds in both telecom and financial domains, the Ministry of Communications has said.
Time of India
22-05-2025
- Business
- Time of India
DoT introduces 'Financial Fraud Risk Indicator' to fight cyber fraud
New Delhi: The Telecom Department has introduced the ' Financial Fraud Risk Indicator (FRI)' that enables enhanced intelligence sharing with banks, UPI service providers and financial institutions, marking a major step towards tackling cyber fraud and financial crime, an official release said on Wednesday. This will enhance cyber protection and validation checks in case of mobile numbers flagged with this tool, when digital payment is proposed to be made to such numbers. FRI allows for swift, targeted, and collaborative action against suspected frauds in both telecom and financial domains, the release said. "... Department of Telecommunications (DoT) has announced sharing of 'Financial Fraud Risk Indicator (FRI)' with stakeholders -- an output from a multi-dimensional analytical tool developed as part of the Digital Intelligence Platform (DIP) to empower financial institutions with advance actionable intelligence for cyber fraud prevention," it said. Explaining the 'Financial Fraud Risk Indicator', it said this is a risk-based metric that classifies a mobile number to have been associated with 'Medium', 'High', or 'Very High' risk of financial fraud. This classification is an outcome of inputs obtained from various stakeholders including reporting on Indian Cybercrime Coordination Centre (I4C's) National Cybercrime Reporting Portal (NCRP), DoT's Chakshu platform, and intelligence shared by banks and financial institutions. "It empowers stakeholders -- especially banks, NBFCs, and UPI service providers -- to prioritise enforcement and take additional customer protection measures in case a mobile number has high risk," the release added. On how advance notification would help, it said the Digital Intelligence Unit (DIU) of DoT regularly shares the list of mobile numbers that were disconnected ( Mobile Number Revocation List - MNRL) with stakeholders along with the reasons for disconnections, say on account of involvement in cyber-crime, failed re-verification, exceeding prescribed limits. These numbers are also usually used for financial frauds. "As the life of a mobile number that is misused in cyber frauds is generally few days, and full verification can take several days, an advance indicator on risk associated with such numbers is very useful. Thus, as soon as a suspected mobile number is flagged by a stakeholder, it undergoes multi-dimensional analysis, and classifies it into Medium, High, or Very High financial risk associated with it," it said. It then shares this assessment about the number immediately with all stakeholders through DIP. An initial adopter of FRI, PhonePe, has used it to decline transactions linked to Very High FRI mobile numbers and display an on-screen alert as part of PhonePe Protect feature. "The data shared by PhonePe indicates the efficacy of the model as the predictability of the numbers passed as soft signal to be actually involved in cyber fraud cases has been found to be very high. For Medium FRI numbers, PhonePe is working for displaying a proactive user warning before allowing the transaction," the release said.
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Business Standard
21-05-2025
- Business
- Business Standard
DoT launches FRI tool to flag risky mobile numbers in cyber frauds
The Department of Telecommunications (DoT) on Wednesday announced the Financial Fraud Risk Indicator (FRI), a new multi-dimensional analytical tool developed as part of its Digital Intelligence Platform (DIP), to help financial institutions with advanced actionable intelligence for cyber fraud prevention. FRI enables enhanced intelligence sharing with banks, UPI service providers and financial institutions, which in turn help tackle cyber fraud and financial crime. It is a risk-based metric that classifies a mobile number in three categories: Medium, High, or Very High risk of financial fraud. The move is set to help banks, non-banking financial companies, and UPI service providers prioritise enforcement and take additional customer protection measures in case a mobile number has high risk. As one of the initial adopters of FRI, digital payment platform PhonePe has used it to decline transactions linked to Very High FRI mobile numbers and display an on-screen alert as part of PhonePe protect feature. For Medium FRI numbers, PhonePe is working to display a proactive user warning before allowing the transaction, the DoT said. PhonePe, Paytm and Google Pay, who collectively account for over 90 per cent of UPI transactions, have begun integrating DIP alerts into their systems, the DoT said. Fraud detection 'This classification is an outcome of inputs obtained from various stakeholders including reporting on Indian Cyber Crime Coordination Centre (I4C's), National Cybercrime Reporting Portal (NCRP), DoT's Chakshu platform, and intelligence shared by banks and financial institutions,' the department said. The DoT regularly shares the list of mobile numbers that were disconnected for being involved in cyber-crime, failing re-verification, and exceeding prescribed limits. These numbers are also usually used for financial frauds. As the life of a mobile number that is misused in cyber frauds is generally few days, and full verification can take several days, an advance indicator on risk associated with such numbers is very useful, the DoT believes. Thus, as soon as a suspected mobile number is flagged by a stakeholder, it undergoes multi-dimensional analysis, classifying it as Medium, High, or Very High financial risk associated with it, and shares it immediately with all stakeholders through DIP.
News18
21-05-2025
- Business
- News18
'Impersonating Myself To Me': Paytm Founder Shares Hilarious Exchange With Scamster
Last Updated: Paytm founder and CEO Vijay Shekhar Sharma posted WhatsApp messages in which the fraudster introduced himself as "Vijay Shekhar Sharma" and asked him to save his "new phone number" Titled 'Impersonating myself to me", Paytm founder and CEO Vijay Shekhar Sharma on Wednesday shared what appeared to be a humorous exchange between him and a scamster, who was allegedly trying to pose as him to extract sensitive information about the company's funds. In a lengthy note on his X, Sharma posted a chain of WhatsApp messages in which the fraudster introduced himself as 'Vijay Shekhar Sharma" and asked him to save his 'new phone number". The encounter left internet users in splits, but spotlighted that not even those like him are spared when it comes to scamsters using sophisticated manoeuvres, advanced techniques, fake profiles, malicious links and impersonation. In this case, however, no harm was caused as Sharma took it in his stride and used the situation for comic relief. In one of the messages, the alleged fraudster urged him to check and report back on the company's available funds. The impersonator also demanded that he share the number and contact details of the finance head of the company, and went so far as to ask him to forward a suspicious .exe file—disguised as a GST document—to the finance executive. Notably, the Telecom Department on Wednesday introduced the 'Financial Fraud Risk Indicator (FRI)' that enables enhanced intelligence sharing with banks, UPI service providers and financial institutions, a step it believes would mark a major step towards tackling cyber fraud and financial crime. According to DoT, this will enhance cyber protection and validation checks in case of mobile numbers flagged with this tool, when digital payment is proposed to be made to such numbers. FRI allows for swift, targeted, and collaborative action against suspected frauds in both telecom and financial domains, an official release said. '…Department of Telecommunications (DoT) has announced sharing of 'Financial Fraud Risk Indicator (FRI)' with stakeholders — an output from a multi-dimensional analytical tool developed as part of the Digital Intelligence Platform (DIP) to empower financial institutions with advance actionable intelligence for cyber fraud prevention," the release added.. It is pertinent to mention that Airtel, earlier this month, launched a fraud detection solution that will identify and block malicious websites across all communication Over-The-Top (OTT) apps and platforms including WhatsApp, Telegram, Facebook, Instagram, email, and others in real-time. The service is currently available in Haryana circle, with a nationwide roll-out planned soon. First Published: May 21, 2025, 23:58 IST
