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DoT plans mobile ID checks to curb cyber fraud

Economic Times

Economic Times · 1m ago

DoT plans mobile ID checks to curb cyber fraud

The Indian telecom department proposes enhancing cybersecurity rules to prevent cyber fraud. The plan involves a centralized platform for verifying user identities with telecom operators, banks, and e-commerce entities. This move aims to reduce online fraud and spoofing incidents by authenticating mobile numbers. The draft rules also address issues related to tampered IMEIs. While the policy could secure digital infrastructure, challenges include data privacy concerns, integration complexities, and compliance costs for smaller platforms.

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Crackdown On Cybercrimes: Telecom Department Orders Blocking 28,200 Mobile Handsets

Inc42 · 1y ago

Crackdown On Cybercrimes: Telecom Department Orders Blocking 28,200 Mobile Handsets

The Department of Telecommunications (DoT) in India has ordered the blockage of 28,200 mobile handsets believed to have been used in cybercriminal activities across the country. The crackdown follows collaboration between the DoT, Ministry of Home Affairs (MHA), and state police forces to combat cybercrime and financial fraud. The Ministry of Communications stated that 2 million mobile numbers were used in conjunction with the blacklisted handsets. This action is part of an ongoing effort to curb the rise in cybercrime in India, which has seen the introduction of various tools and measures in recent months.

Govt taking steps to curb cyber frauds: Union minister Jyotiraditya Scindia - The Economic Times

Economic Times

Economic Times · 9d ago

Govt taking steps to curb cyber frauds: Union minister Jyotiraditya Scindia - The Economic Times

The government is implementing various measures to combat cyber frauds, including using Digital Intelligence Platform and Fraud Risk Indicator (FRI) software. These tools categorize and share data of fraudulent individuals with banks, who block their transactions. Additionally, the Department of Telecommunications (DoT) disconnects suspicious mobile connections and enhances KYC processes to prevent misuse. Efforts have reduced international spoofed calls by 97%, with a focus on integrating multiple stakeholders against cyber crimes.

Centre Launches ‘DIP’ And ‘Chakshu’ Platforms To Curb Cybercrime, Financial Fraud

Inc42 · 1y ago

Centre Launches ‘DIP’ And ‘Chakshu’ Platforms To Curb Cybercrime, Financial Fraud

The Department of Telecommunications (DoT) has launched the Digital Intelligence Platform (DIP) and Chakshu facility to combat cybercrime and financial fraud. DIP is a secure platform for real-time intelligence sharing among stakeholders, such as telecom service providers, law enforcement agencies, banks, and social media platforms. Chakshu allows citizens to report suspected fraud communication. These initiatives are part of the government's efforts to raise awareness and combat cyber fraud. The DoT previously disconnected 5.5 million phone numbers obtained using false documents. Last year, a rise in malicious phone calls threatening disconnection was reported.

TRAI, DoT Step Up Fight Against Pesky Callers & Fraudsters, Block Over 1 Cr Phone Connections

Inc42 · 11m ago

TRAI, DoT Step Up Fight Against Pesky Callers & Fraudsters, Block Over 1 Cr Phone Connections

TRAI and the Department of Telecommunications (DoT) have suspended more than 100 million mobile connections in an effort to tackle nuisance callers and fraudsters. Additionally, the DoT has blocked around 227,000 mobile handsets that were linked to cybercrime and financial fraud. In related news, TRAI has introduced updated regulations on quality of service which will be enforced starting from October 1st.

Protectt.ai raises Rs 76 Cr in Series A round led by Bessemer

Entrackr

Entrackr · 4m ago

Protectt.ai raises Rs 76 Cr in Series A round led by Bessemer

Protectt.ai, a mobile app cybersecurity and fraud control platform, has raised Rs 76 crore (around $8.7 million) in its Series A funding round led by Bessemer Venture Partners. The proceeds will be used to enhance the AI-driven mobile app security solution platform, accelerate product innovation, build new solutions for AI Security, and support its global expansion initiatives in the US, Middle East & APAC. Founded by Manish Mimani and Mohanraj Selvaraj, Protectt.ai offers a suite of mobile app security solutions, designed to safeguard mobile apps from emerging cyber threats and frauds. It also serves as a global compliance hub for mobile app owners who need to comply with regulations from entities such as RBI, SEBI, NPCI, and other regulatory bodies. Its mobile app XDR Platform offers advanced protection against evolving cyber threats, fraud, and malicious attacks, ensuring the security of mobile businesses and users worldwide. Protectt.ai claims to have covered over 300 million smartphones, processing approximately 2 billion mobile app sessions every month while preventing 200 million cyber threats and fraud events monthly.

RBI advises banks to integrate DoT's financial fraud technology

Economic Times

Economic Times · 1m ago

RBI advises banks to integrate DoT's financial fraud technology

The Reserve Bank of India has urged banks to adopt the Financial Fraud Risk Indicator tool from the Department of Telecom to tackle online fraud. This tool assesses mobile numbers based on their fraud risk, utilizing data from various sources, including the National Cybercrime Reporting Portal. The initiative is seen as a significant step in combating cyber-enabled financial fraud, particularly with the rise of digital payments like UPI, emphasizing the need for real-time data sharing between banks and the telecom sector.

Banks in direct link-up with I4C to check fraud on accounts

Economic Times

Economic Times · 4m ago

Banks in direct link-up with I4C to check fraud on accounts

Major Indian banks and payments firms like Razorpay are integrating with the Integrated Cyber Crime Coordination Centre (I4C) to combat payment frauds more effectively. Direct API integrations will allow instant alerts, facilitating immediate action, unlike the previous manual information exchange, reducing response time and manpower costs. This move is urged by the finance ministry's January 31 deadline to curb rising financial fraud, alongside global coordination and public awareness efforts to enhance security.

Paytm founder calls out scamster impersonating him; shares screenshots of hilarious exchange

Economic Times

Economic Times · 2m ago

Paytm founder calls out scamster impersonating him; shares screenshots of hilarious exchange

Paytm founder and CEO Vijay Shekhar Sharma shared screenshots of a humorous exchange with a scammer who impersonated him to obtain sensitive information. The scammer, claiming to be Sharma himself, demanded the company's financial details and requested suspicious actions. This incident highlights the rise of sophisticated digital scams. Concurrently, India's Telecom Department launched the 'Financial Fraud Risk Indicator' to enhance cyber protection and curb financial crimes by sharing intelligence with banks and financial institutions.

Axis Bank launches new feature ‘Lock FD’ to curb digital fraud; here’s how to activate it - The Economic Times

Economic Times

Economic Times · 15h ago

Axis Bank launches new feature ‘Lock FD’ to curb digital fraud; here’s how to activate it - The Economic Times

Axis Bank has introduced a 'Lock FD' feature to protect customers from digital fraud by preventing the premature closing of fixed deposits (FDs) via digital channels. Instead, customers wishing to close their FDs must visit a branch for identity checks, adding a security layer. Activation is possible through the bank’s mobile app or branch visit. Additionally, Axis Bank has enhanced security with an in-app mobile OTP feature to prevent OTP interception during online transactions.

Amazon’s Project Kuiper May Soon Join Eutelsat OneWeb, Others To Secure Satcom Licence In India

Inc42 · 1y ago

Amazon’s Project Kuiper May Soon Join Eutelsat OneWeb, Others To Secure Satcom Licence In India

Amazon is in the process of obtaining the necessary licences from the Department of Telecommunications (DoT) for its satellite internet service, Project Kuiper. The company has submitted all required documents, including its network diagram, to the DoT for evaluation. The DoT has not yet granted licences to Amazon or SpaceX for global mobile personal communication by satellite services (GMPCS) in India. Project Kuiper plans to launch its satellite constellation and initiate service rollout by the end of 2024.

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