Financial Fraud Risk Indicator (FRI)

Financial Fraud Risk Indicator (FRI): Recently, the Department of Telecommunications (DoT) launched the Financial Fraud Risk Indicator (FRI), a data-driven tool to help financial institutions identify mobile numbers potentially linked to fraud.

• About FRI : A risk-based classification system that categorizes mobile numbers as Medium, High, or Very High risk based on their association with fraudulent activities.

၀ The tool draws intelligence from multiple sources:

- Reports filed on the National Cybercrime Reporting Portal (NCRP) by the Indian Cybercrime Coordination Centre (I4C)

- DoT’s Chakshu platform

- Alerts and reports from banks, NBFCs, and UPI platforms.

• How FRI Works: When a stakeholder flags a mobile number, it undergoes multi-dimensional analysis to determine its fraud risk level.

၀ This intelligence is then shared with banks, UPI providers, and other financial institutions via the Digital Intelligence Platform (DIP).

၀ FRI helps institutions implement additional customer protection measures or block high-risk transactions linked to flagged numbers.