RBI directs banks to adopt DoT’s Financial Fraud Risk Indicator system for real-time fraud detection

In a major stride towards combating cyber-enabled financial fraud, the Reserve Bank of India (RBI) has advised all banks to integrate the Financial Fraud Risk Indicator (FRI) developed by DoT into their systems, a Ministry of Communications release stated.

The advisory was issued to all Scheduled Commercial Banks, Small Finance Banks, Payments Banks, and Co-operative Banks on June 30, 2025. Banks and financial institutions can use the FRI in real time, which classifies mobile numbers based on their association with medium, high or very high risk of financial fraud.