RBI directs banks to adopt DoT’s Financial Fraud Risk Indicator to curb cyber fraud

The Department of Telecommunications (DoT) has welcomed the Reserve Bank of India’s (RBI) advisory issued on June 30, 2025, directing all Scheduled Commercial Banks, Small Finance Banks, Payments Banks, and Co-operative Banks to integrate the Financial Fraud Risk Indicator (FRI) developed by DoT into their systems.

The FRI, launched in May 2025 by DoT’s Digital Intelligence Unit (DIU), is a risk-based metric that classifies a mobile number as being associated with Medium, High, or Very High risk of financial fraud. The classification is based on…