India’s fight against digital financial fraud has received a major boost with the Department of Telecommunications reporting strong early results from a new monitoring system. The Ministry of Communications said the Financial Fraud Risk Indicator has helped prevent cyber fraud losses worth nearly ₹660 crore in just 6 months since its launch.
The system was introduced on May 22, 2025, and operates through the Digital Intelligence Platform of the Department of Telecommunications. Officials said the indicator has enabled faster identification of risky transactions, allowing banks and payment platforms to act before money is lost.
The department noted that close coordination with key financial institutions played a crucial role in the rollout. Support from the Reserve Bank of India and the National Payments Corporation of India helped drive quick adoption across the banking and digital payments ecosystem. At present, more than 1,000 entities are connected to the platform. These include banks, third party application providers, and payment system operators. All onboarded institutions are using the indicator for real time fraud risk checks.
According to the department, the prevented losses came from early intervention at the transaction level. Financial institutions used the system to flag suspicious activity, decline high risk transactions, or send instant alerts to customers so they could act before funds were transferred.
Officials also warned that cybercrime is becoming more organised and complex. Trends highlighted include digital arrest scams that pressure victims into transferring money, fake call centres and SIM box networks that bypass legal routes, and the use of psychological tactics to target people at scale. In this environment, the department said technology must be backed by public awareness.
The citizen facing platform Sanchar Saathi was highlighted as a key support system. Through its web portal and mobile app, citizens can report suspicious calls and messages, flag unauthorised SIMs, and block lost or stolen phones. The department credited alert users, calling them “cyber warriors”, and said growing usage shows rising public trust.
The department stressed that reporting fraud is critical. Ignoring such calls does not stop fraud criminals from targeting others. Reports help authorities identify patterns, block numbers, disable fake connections, and prevent repeat offences across telecom and banking systems.
Looking ahead, the department said continued cooperation among regulators, financial institutions, telecom operators, and citizens is essential to keep India’s digital economy secure.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter
About us:
The Mainstream is a premier platform delivering the latest updates and informed perspectives across the technology business and cyber landscape. Built on research-driven, thought leadership and original intellectual property, The Mainstream also curates summits & conferences that convene decision makers to explore how technology reshapes industries and leadership. With a growing presence in India and globally across the Middle East, Africa, ASEAN, the USA, the UK and Australia, The Mainstream carries a vision to bring the latest happenings and insights to 8.2 billion people and to place technology at the centre of conversation for leaders navigating the future.
