The government has recently blocked approximately 140,000 mobile numbers due to their involvement in cyber crimes or financial fraud. Government officials, led by Financial Services Secretary Vivek Joshi, met to discuss cyber security in the financial services sector. They covered various topics, including integrating banks and financial institutions into the Citizen Financial Cyber Fraud Reporting and Management System (CFCFRMS) platform through API integration.
Blocking mobile numbers involved in crime
An official release stated that approximately 1.4 lakh mobile numbers associated with cybercrime or financial fraud have been blocked. These numbers were either linked to disconnected mobile connections or misused in criminal activities.
Action against malicious SMS
The Department of Telecom (DoT) analysed 35 lakh entities sending bulk SMSs. They identified 19,776 entities involved in sending malicious SMSs and blacklisted them. Additionally, 30,700 SMS headers and 1,95,766 SMS templates were disconnected.
Reviewing preparedness
The meeting reviewed the action points discussed in the previous meeting held in November last year. They assessed the readiness of banks and financial institutions to tackle challenges related to cyber security and the increasing trend of digital payment fraud.
AI technology to combat fraud
During the discussion, it was highlighted that DoT has developed an AI-based engine called ASTR to detect mobile connections obtained with fake or forged documents.
Transition to specific number series
One issue addressed in the meeting was the transition of banks and financial institutions from regular 10-digit numbers to specific number series like '140xxx' for commercial or promotional activities, as recommended by TRAI.
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