UPI users: DoT's new system will decline transactions to certain mobile numbers

The Telecom Department has reportedly rolled out the 'Financial Fraud Risk Indicator (FRI),' which aims to enhance intelligence sharing among banks, UPI service providers, and financial institutions. This initiative is seen as a significant advancement in the fight against cyber fraud and financial crime, according to an official release made on Wednesday. The introduction of the FRI is expected to bolster cyber protection and validation checks for mobile numbers that are flagged when digital payments are attempted. This tool allows for swift, targeted, and collaborative action in response to suspected fraud across both telecom and financial sectors, as outlined in the release.

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