Latest Third-Party Application Providers News & Updates

Financial Fraud Risk Indicator Prevents Rs 660 Crore Cyber Fraud Losses in 6 Months

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New Delhi, Dec 22 (IANS) The Financial Fraud Risk Indicator (FRI) has helped prevent the financial loss of Rs 660 crore in cyber fraud across the banking ecosystem in just six months since its rollout, the Department of Telecommunications (DoT) said on Monday.The FRI is driven by active support of the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI), leading to large-scale onboarding of banks, financial institutions, and Third-Party Application Providers (TPAPs) …