{"id":43956,"date":"2025-05-23T20:54:15","date_gmt":"2025-05-23T15:24:15","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=43956"},"modified":"2025-05-23T20:54:27","modified_gmt":"2025-05-23T15:24:27","slug":"financial-fraud-risk-indicator","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/23-05-2025\/financial-fraud-risk-indicator","title":{"rendered":"Financial Fraud Risk Indicator (FRI)\u00a0"},"content":{"rendered":"\n<p><strong>Syllabus: GS2\/Government Policy and Intervention; GS3\/Cyber Security<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Context<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Recently, the <strong>Department of Telecommunications (DoT)<\/strong> has launched the <strong>Financial Fraud Risk Indicator (FRI)<\/strong> as part of the <strong>Digital Intelligence Platform<\/strong> (DIP) to safeguard financial systems and telecom infrastructure.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>About Financial Fraud Risk Indicator (FRI)<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>FRI is a risk-based metric that classifies mobile numbers into <strong>three categories\u2014Medium, High, or Very High risk<\/strong>\u2014based on their likelihood of being involved in fraudulent activities.<\/li>\n\n\n\n<li>This classification is derived from multiple data sources, including the Indian Cybercrime Coordination Centre\u2019s <strong>National Cybercrime Reporting Portal<\/strong>, the <strong>DoT\u2019s Chakshu platform<\/strong>, and information shared by banks and financial institutions.<\/li>\n\n\n\n<li>When a mobile number is flagged, it undergoes a <strong>multi-dimensional analysis<\/strong> to assess its risk level. The FRI assessment is then shared with stakeholders in real-time.<\/li>\n\n\n\n<li>Major UPI platforms like PhonePe, Paytm, and Google Pay are now integrating FRI alerts.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Cyber Fraud in India<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It has become a growing concern in India, with <strong>financial scams, identity theft, and digital crimes<\/strong> increasing at an alarming rate.\n<ul class=\"wp-block-list\">\n<li>As digital transactions expand, so do the risks associated with cyber fraud.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>It includes Hacking, Phishing, Identity Theft, Cyber Espionage, and Cyberbullying etc.<\/li>\n<\/ul>\n\n\n\n<p class=\"has-text-align-center\"><img loading=\"lazy\" decoding=\"async\" width=\"224\" height=\"170\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXdIqshGdm2ojng2yCzYLIss-8CWiPXTrCkkRxaltDW8RBoHg965Cmzd6KbwgkB_x2O51nSva_vs_YtLv5pj-yNo8mbxAL8vLiu802q_bes2vwjsrJ9VROV0T7GPyQ0H43ZEEfuTYQ?key=ZzXm8dXXFfWWv8MLE8Oqhg\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Data on Cyber Frauds in India<\/strong><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img data-dominant-color=\"dbeef6\" data-has-transparency=\"false\" style=\"--dominant-color: #dbeef6;\" loading=\"lazy\" decoding=\"async\" width=\"363\" height=\"379\" src=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/05\/cyber-frauds-across-the-years-in-banking-transactions.png\" alt=\"cyber-frauds-across-the-years-in-banking-transactions\" class=\"not-transparent wp-image-43981\" srcset=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/05\/cyber-frauds-across-the-years-in-banking-transactions.png 363w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/05\/cyber-frauds-across-the-years-in-banking-transactions-287x300.png 287w\" sizes=\"auto, (max-width: 363px) 100vw, 363px\" \/><\/figure>\n<\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img data-dominant-color=\"dcf0f8\" data-has-transparency=\"false\" loading=\"lazy\" decoding=\"async\" width=\"669\" height=\"515\" src=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/05\/amount-of-loss-incurred-from-cyber-frauds.png\" alt=\"amount-of-loss-incurred-from-cyber-frauds\" class=\"not-transparent wp-image-43983\" style=\"--dominant-color: #dcf0f8; width:437px;height:auto\" srcset=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/05\/amount-of-loss-incurred-from-cyber-frauds.png 669w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2025\/05\/amount-of-loss-incurred-from-cyber-frauds-300x231.png 300w\" sizes=\"auto, (max-width: 669px) 100vw, 669px\" \/><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><strong>Government Initiatives Against Cyber Financial Fraud<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Key Legislative Measures: <\/strong>Cyber Crimes cases are handled under the provisions of the Information Technology Act, 2000, the Bhartiya Nyaya Sanhita, 2023 and Protection of Children from Sexual Offences Act, 2012 (POCSO Act).<\/li>\n\n\n\n<li><strong>Chakshu Facility on the Sanchar Saathi Platform:<\/strong> It allows citizens to report suspicious calls and messages.<\/li>\n\n\n\n<li><strong>e-Zero FIR Initiative under I4C of MHA: <\/strong>&nbsp;It allows victims to file FIRs online, eliminating jurisdictional barriers and expediting law enforcement responses.\n<ul class=\"wp-block-list\">\n<li>The <strong>Indian Cyber Crime Coordination Centre (I4C)<\/strong> has been established to tackle cybercrime, and the <strong>National Cyber Crime Reporting Portal <\/strong>allows citizens to report incidents online.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>RBI\u2019s AI based tool \u2018MuleHunter\u2019: <\/strong>For identification of money mules and advised the banks and financial institutions for its uses.<\/li>\n\n\n\n<li><strong>Citizen Financial Cyber Fraud Reporting and Management System: <\/strong>This system has helped recover over \u20b91,200 crore from fraudulent transactions.<\/li>\n\n\n\n<li><strong>Blocking Fraudulent SIM Cards:<\/strong> More than 3.2 lakh SIM cards and 49,000 IMEIs linked to cyber fraud have been blocked.<\/li>\n\n\n\n<li><strong>Cyber Awareness Campaigns: <\/strong>The government promotes cybersecurity awareness through social media, radio campaigns, and educational programs.<\/li>\n<\/ul>\n\n\n\n<p><a href=\"https:\/\/www.pib.gov.in\/PressReleasePage.aspx?PRID=2130249\" rel=\"nofollow noopener\" target=\"_blank\">Source: PIB<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<h3><strong>Context<\/strong><\/h3>\n<li class=\"ms-5\">Recently, the Department of Telecommunications (DoT) has launched the Financial Fraud Risk Indicator (FRI) as part of the Digital Intelligence Platform (DIP) to safeguard financial systems and telecom infrastructure.<\/li>\n<p><\/p>\n<h3><strong>About Financial Fraud Risk Indicator (FRI)<\/strong><\/h3>\n<li class=\"ms-5\">FRI is a risk-based metric that classifies mobile numbers into three categories\u2014Medium, High, or Very High risk\u2014based on their likelihood of being involved in fraudulent activities.<\/li>\n<li class=\"ms-5\">This classification is derived from multiple data sources, including the Indian Cybercrime Coordination Centre\u2019s National Cybercrime Reporting Portal, the DoT\u2019s Chakshu platform, and information shared by banks and financial institutions.<\/li>\n<li class=\"ms-5\">When a mobile number is flagged, it undergoes a multi-dimensional analysis to assess its risk level. The FRI assessment is then shared with stakeholders in real-time.<\/li>\n<li class=\"ms-5\">Major UPI platforms like PhonePe, Paytm, and Google Pay are now integrating FRI alerts.<\/li>\n<p><a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/23-05-2025\/financial-fraud-risk-indicator\" class=\"btn btn-primary btn-sm float-end\">Read\u00a0More<\/a><\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-43956","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/43956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=43956"}],"version-history":[{"count":4,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/43956\/revisions"}],"predecessor-version":[{"id":43994,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/43956\/revisions\/43994"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=43956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=43956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=43956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}