Skip to content
Free updates Login
SSCBankingUPSC & State PSC

Financial Fraud Risk Indicator: DoT’s Tool Against Cyber Fraud

23 May 20251 min read
SCIENCE & TECHNOLOGYFinancial FraudRisk Indicator:DoT’s Tool AgainstCyber Fraud23 May 2025safalsetu.com

Why in the news

The Department of Telecommunications introduced FRI, an analytical tool to help financial institutions spot and stop cyber fraud, under its wider Digital Intelligence Platform (DIP).

Key facts

  • FRI is a multidimensional, risk-based metric scoring mobile numbers by how likely they are to be linked to financial fraud.
  • Risk bands: Medium, High, Very High.
  • Users: banks, NBFCs and UPI providers, who can prioritise checks and decline transactions tied to risky numbers.
  • PhonePe blocks “Very High” risk transactions and warns users through PhonePe Protect.

Significance

  • Boosts cybersecurity in digital payments and links telecom with finance against fraud.

Exam angle

  • Issuing department: DoT; parent platform: DIP.

Test yourself

1. Which department launched the Financial Fraud Risk Indicator (FRI) in May 2025?

DoT unveiled FRI as part of its Digital Intelligence Platform.

2. Into how many risk categories does the FRI classify mobile numbers?

Numbers are classed as Medium, High or Very High risk.

3. Which payments app was cited as using FRI to block transactions from Very High risk numbers?

PhonePe adopted FRI and issues alerts via PhonePe Protect.

This topic is part of Daily Current Affairs 22 May 2025 (15 topics).

All topics of the dayDay quizMay 2025

Read more