Tech Nukti
Nowadays we all make digital payments from our phones, like PhonePe, Google Pay, Paytm. Sending and receiving money has become very easy. But along with this, fraud has also started increasing. Fraud means cheating, in which people steal money by misusing the mobile number of others. Because of this, people making digital payments are worried and the need for security has increased.
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DoT Launched Fraud Risk Indicator Tool
The Department of Telecommunications (DoT) of the Government of India has now launched a new tool named Fraud Risk Indicator (FRI). This tool divides mobile numbers into three parts – Medium Risk, High Risk, and Very High Risk. Meaning this tool tells which number can be more involved in committing fraud.
How Does A Fraud Risk Indicator Tool Work?
This tool collects data from many places, such as the National Cybercrime Reporting Portal, DoT's own systems, and banks. By combining all this data, the tool decides which mobile number is risky for committing fraud. When a number is at high risk, payment apps pay more attention to the transactions done from that number.
What Will Be The Benefit To Payment Apps And Banks?
Digital payment platforms like PhonePe, Google Pay, Paytm can now use this tool to stop money transfer from suspicious numbers. They can also ask for extra verification, which will reduce the chances of fraud. This will give users a big support to keep their money safe.
Important Steps For Security
The problem of digital payment fraud is increasing, but DoT's Fraud Risk Indicator tool will help in stopping it. This tool will make digital transactions secure and people will be able to send and receive money from their mobile without fear. Such security steps are very important in today's digital era.
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