In a significant move to reinforce the security of India’s financial ecosystem, the Department of Telecommunications (DoT) and the Securities and Exchange Board of India (SEBI) have entered into a strategic partnership through a Memorandum of Understanding (MoU). The collaboration aims to strengthen cooperation in tackling the misuse of telecom resources in securities market frauds and investment-related scams.
Data-led intelligence sharing at the core
At the heart of the agreement lies a structured data-sharing mechanism designed for early detection and disruption of fraudulent activities. DoT will share the Financial Fraud Risk Indicator (FRI) with SEBI to help identify mobile numbers linked to suspicious patterns through multi-dimensional analysis.
The Mobile Number Revocation List (MNRL) will also be shared automatically, enabling SEBI-regulated entities, including brokers and asset management companies, to ensure that investor accounts are linked only to active and valid mobile connections.
In a reciprocal arrangement, SEBI will provide inputs on telecom resources associated with accounts involved in cyber fraud, impersonation, or money mule activities, enabling swift action in the telecom domain.
Digital intelligence platform to power real-time action
This intelligence exchange will be facilitated through DoT’s Digital Intelligence Platform (DIP), which currently connects over 1,400 stakeholders and enables real-time sharing of actionable information across institutions. The platform is expected to serve as a critical backbone for coordinated enforcement and rapid response.
Shifting from reactive policing to proactive prevention
The collaboration assumes heightened significance amid India’s rapidly expanding digital investment landscape. By integrating telecom intelligence with market surveillance systems, the MoU enables a decisive shift from reactive enforcement to proactive prevention.
The Financial Fraud Risk Indicator, drawing inputs from DoT’s Chakshu facility under Sanchar Saathi, financial institutions, and law enforcement agencies, will function as an early warning system to flag potentially fraudulent mobile connections before they are used for financial scams.
Building on strong enforcement momentum
The partnership builds on the foundation of DoT’s ongoing initiatives. Under Sanchar Saathi, over 88 lakh fraudulent mobile connections have already been disconnected using ASTR. Additionally, the deployment of FRI has helped prevent financial losses of approximately ₹2,300 crore over the past ten months.
Towards a unified and adaptive fraud response framework
Going forward, the MoU will facilitate the development of standard operating procedures for coordinated action and enable institutional-level sharing of red-flag indicators. With continuous engagement and adaptive mechanisms to counter evolving cyber threats, the DoT–SEBI collaboration is poised to significantly strengthen investor protection and enhance trust in India’s digital and financial ecosystem.