<ul data-eligibleForWebStory="false"><li>RBI has advised banks to integrate the Financial Fraud Risk Indicator (FRI) system developed by the Department of Telecommunications (DoT) to combat cyber-enabled financial fraud.</li><li>FRI classifies mobile numbers into risk categories based on their association with reported financial frauds, aiming to enhance real-time fraud detection in India's digital financial infrastructure.</li><li>Major banks and financial institutions are already using FRI to access real-time risk scores for mobile numbers and implement preventive measures like declining high-risk transactions and alerting customers.</li><li>The FRI system, combining telecom data and financial intelligence, is seen as a sector-wide standard to strengthen India's defenses against cyber threats and protect citizens in the digital economy.</li></ul>

RBI Advises Banks to Integrate DoT’s Financial Fraud Risk Indicator System

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