India’s fight against financial fraud has gained a powerful weapon in the form of the Financial Fraud Risk Indicator (FRI) from the Department of Telecommunications. Dr. Chandrashekar Pemmasani detailed its efficacy during a Lok Sabha session, emphasizing easier detection of implicated mobile numbers.
At its core, FRI is a risk assessment tool that stratifies numbers by fraud potential—medium, high, or very high. This data fuels actions by banks and UPI entities, analyzing tied accounts for red flags.
The system’s real-world punch: saving over ₹1,000 crore by denying shady transactions and alerting the public promptly, as per reports from involved parties.
The Department isn’t stopping there. Sanchaar Saathi, a multi-feature portal and app, equips users to combat threats head-on—reporting dubious messages, listing personal numbers, notifying stolen phones, and validating devices.
Stats speak volumes: 8.33 lakh recoveries of lost/stolen sets, 2.24 crore connections axed for being unauthorized, and 39.44 lakh shut down via 7.7 lakh citizen inputs on fraud. A spoof call blocker has further decimated fake inbound calls by 99%.
Collectively, these innovations are building robust defenses, curbing telecom abuses, and fostering a trustworthy environment for India’s digital economy.