Now making digital payment is going to be even more safe. If you also use UPI apps like Paytm, PhonePe, Google Pay or BHIM, then this news is very important for you. The Telecom Department (DOT) has launched a new security system, which aims to curb online fraud.
The name of this new initiative is Financial Fraud Risk Indicator (FRI). Its job is to identify those mobile numbers which can be involved in fraud. If a number is being used for cyber crime or any suspicious activity is seen in it, it will be blocked.
What will a new system do?
The FRI system is a type of digital alert tool. As soon as a suspicious number is involved in a banking or UPI transaction, this system will recognize it and alert banks and other financial institutions. Before it is fraud, it will be stopped.
The most special thing about this system is that it will work not only for banks, but also for non-banking platforms. That is, apps like Paytm, PhonePe, GPAY will also be able to keep their users safe with the help of this tool.
Which numbers will be caught by Fri?
- Numbers that have already been found associated with any fraud
- Numbers that did not complete KYC or Verification
- Or those who are violating the rules repeatedly
All such numbers will be flagged through this system and blocks will also be done if needed.
Why is this necessary?
Nowadays digital payment has become very common, but cyber fraud cases have also increased rapidly with it. In such a situation, this step of the government will not only increase the security of common people, but will also increase trust in digital transactions.
What should users do?
- Always verify your mobile number and UPI apps
- Do not rely on any unknown call or link
- Contact your bank immediately if there is any problem related to transactions
This initiative of DOT is leading the country to a safe digital ecosystem. If you too have not paid attention to the safety related to UPI yet, then now is the time to be cautious.