Govt says ₹660 Cr in cyber fraud losses prevented in six months

The government has said it prevented cyber fraud losses amounting to nearly ₹660 crore over a six-month period through the use of a digital risk monitoring system designed to detect and flag suspicious financial activity in real time.

According to the Ministry of Communications, the Financial Fraud Risk Indicator (FRI) has played a central role in identifying and stopping high-risk transactions before losses could occur. The system operates through the Digital Intelligence Platform (DIP), which enables banks and payment entities to share alerts and intelligence on suspected fraud.

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The ministry said more than 1,000 banks, third-party application providers and payment system operators have now joined the platform and are actively using the FRI framework. This widespread adoption has allowed for faster detection of fraud patterns and coordinated responses across the financial ecosystem.

The initiative is supported by the Reserve Bank of India and the National Payments Corporation of India, which officials said has helped drive large-scale participation by financial institutions and strengthened safeguards across digital payment channels.

The ministry also acknowledged the role of citizens in reporting suspected fraud through the Sanchar Saathi platform. Users have been actively flagging suspicious communications, unauthorised mobile connections issued in their names, and cases involving lost or stolen mobile phones.

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Officials urged the public to continue using the Sanchar Saathi web portal and mobile application to access citizen-focused services and help authorities curb cybercrime. The government said greater public participation, combined with institutional monitoring tools, is critical to tackling the rising threat of digital fraud.