India, Aug. 6 -- The Government of India issued the following news release:
Department of Telecommunications (DoT) has developed Financial Fraud Risk Indicator (FRI) which is a risk-based metric that classifies a mobile number to have been associated with Medium, High, or Very High risk of financial fraud. FRI empowers stakeholders-especially banks, Non-Banking Financial Companies (NBFCs) and Unified Payment Interface (UPI) service providers to prioritize enforcement and take additional customer protection measures in case a mobile number has high risk. FRI is available through Digital Intelligence Platform (DIP) to the stakeholders.
RBI has issued separate advisories to banks & Payment Service Operators (PSO) for integration of FRI with ...