Srinagar, May 23 -- In a significant move to bolster the country's defenses against cybercrime and financial fraud, the Department of Telecommunications (DoT) has officially announced that it will begin sharing Financial Fraud Risk Indicator (FRI) data with banks, NBFCs, UPI service providers, and other financial institutions. This initiative is part of the government's broader effort to reduce financial frauds occurring through mobile-based digital transactions.

According to the DoT, the FRI metric is powered by an analytical engine developed under the Digital Intelligence Platform (DIP). It classifies mobile phone numbers into three levels of financial fraud risk - Medium, High, and Very High. This classification is based on intelligen...