NEW DELHI. The Government has prevented six hundred sixty Crore Cyber Fraud Losses in just 6 months with the help of the Financial Fraud Risk Indicator (FRI).
The Ministry of Communication informed that more than 1000 banks, third-party application providers and Payment System Operators (PSOs) have onboarded the Digital Intelligence Platform (DIP) and started adopting FRI actively. FRI is driven by the active support of the Reserve Bank of India and the National Payments Corporation of India. It leads to large-scale onboarding of banks and financial institutions.
The Ministry also acknowledged and appreciated the efforts of all vigilant citizens and Cyber Warriors who are actively leveraging the Sanchar Saathi platform to report Suspected Fraud Communications, fraudulent connections obtained in their name, and lost and stolen mobile handsets. It also urged citizens to utilise the Sanchar Saathi web portal and Mobile App for availing the citizen-centric services.
