DoT–SEBI Collaboration to Curb Financial Frauds

The Department of Telecommunications (DoT) and the Securities and Exchange Board of India (SEBI) have signed a Memorandum of Understanding (MoU) to combat financial frauds by leveraging telecom resources.

Data Sharing Mechanism:

DoT will share:

Financial Fraud Risk Indicator (FRI)

Mobile Number Revocation List (MNRL)

SEBI will share:

Data on telecom resources linked to fraudulent trading, impersonation, and money mule accounts

Technology Platform:

Enabled through Digital Intelligence Platform (DIP)

Connects over 1400 stakeholders for real-time intelligence sharing

Key Features of the Initiative:

Early Warning System: FRI flags suspicious mobile numbers before fraud occurs

Verification Mechanism: MNRL ensures investor accounts are linked to valid mobile numbers

Real-time Coordination: Faster action against telecom-linked frauds

Proactive Approach: Shift from reactive enforcement to preventive monitoring

SEBI(Securities and Exchange Board of India):

Established in 1992

Headquarters: Mumbai

Chairperson: Tuhin Kanta Pandey

Regulates securities market in India

DoT(Department of Telecommunications):

Under Ministry of Communications

Responsible for telecom policy and regulation

Minister: Jyotiraditya Scindia

Deputy Minister: Devusinh Chauhan