RBI Mandates Banks Implement Fraud Detection System

Imagine your bank has a special tool called FRI to help stop financial scams.

This tool checks if a phone number is likely to be used for bad things, like stealing money.

The government is telling all banks to use FRI.

If a phone number seems risky, the bank might stop a suspicious transaction, send you a warning, or delay the transaction.

Many banks are already using it, and it's meant to make online banking safer for everyone.