SRINAGAR: The Government has prevented cyber fraud losses amounting to Rs 660 crore over the past six months through the implementation of the Financial Fraud Risk Indicator (FRI).
The Ministry of Communications said the FRI framework has been widely adopted, with more than 1,000 banks, third-party application providers and Payment System Operators (PSOs) onboarded on the Digital Intelligence Platform (DIP). These entities have begun actively using the risk indicator to identify and block fraudulent transactions in real time.
The FRI initiative is being implemented with the active support of the Reserve Bank of India and the National Payments Corporation of India, enabling large-scale participation by banks and financial institutions across the country.
The Ministry also commended vigilant citizens and Cyber Warriors for making effective use of the Sanchar Saathi platform to report suspected fraudulent communications, unauthorised connections obtained in their names, and lost or stolen mobile handsets.
Citizens have been urged to continue using the Sanchar Saathi web portal and mobile application to access various citizen-centric services aimed at strengthening digital security and preventing cybercrime.
