Cyber ​​Fraud: Government strict on financial fraud, 6 digit '140xxx' number will be launched for commercial-promotional calls

Cyber ​​Fraud: Government strict on financial fraud, 6 digit '140xxx' number will be launched for commercial-promotional calls

Online Financial Fraud: In view of the increasing online financial frauds, the Secretary of Financial Affairs has held a big meeting with the stakeholders of 12 organizations. The government said that 1.4 lakh mobile handsets related to financial fraud cases have been blocked by the Telecom Department. The government has asked banks and financial institutions to launch 6-digit serial numbers instead of 10-digit numbers for commercial promotional calls.   

In this meeting held to prevent financial services sector and online financial fraud, the preparations made after the first meeting held on 28 November 2023 were reviewed. In this meeting, cyber security in the financial sector, increasing trend of digital payment frauds and preparations to deal with it were discussed.  

It was told in the meeting that the Department of Telecommunications has prepared an AI/ML based engine by the name of Astra which will be able to detect such mobile connections which have been obtained through fake and fake documents. 1.40 mobile handsets have been blocked which were connected to disconnected connections or were linked to cyber crime or fraud. The government has asked banks and financial institutions to launch 6-digit series numbers instead of 10-digit numbers for commercial promotional calls. Besides, financial institutions have also been asked to run awareness campaigns.   

DoT has detected 35 lakh principal entities who send bulk SMS. Out of these, 19,776 entities which used to send fake SMS have been blacklisted and blocked. Also, 30,700 SMS headers and 1,95,766 SMS templates have been disconnected. 500 people involved in financial fraud were arrested and 3.08 lakh SIMs and 50,000 IMEIs have been blocked through Prakharpan portal since April 2023.  

In November, the government had said that 70 lakh mobile connections reported through the digital intelligence platform had been disconnected which were involved in cyber crime and financial fraud. Also, an amount of Rs 900 crore could be saved from fraud which benefited 3.5 lakh people.  

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