Cyber frauds on RBI’s radar: Banks mandated to use TRAI’s MNRL technology by March 31, 2025

The Reserve Bank of India (RBI) wants to leave no stone unturned when it comes to prevention of cyber fraud with banking consumers. Recently the RBI has given a direction to all banks, etc to use Telecom Regulatory Authority of India (TRAI)’s MNRL list available on the Digital Intelligence Platform (DIP) to enhance the bank’s fraud risk monitoring and prevention. This technology developed by the Ministry of Communications can prevent bank accounts from being operated as Money Mules and / or being involved in cyber frauds.