Structured intelligence exchange to flag suspicious mobile numbers, strengthen investor protection, and enable early detection of scams
In a significant step to curb rising cyber-enabled financial crimes, India’s Department of Telecommunications (DoT) and the Securities and Exchange Board of India (SEBI) have signed a Memorandum of Understanding (MoU) to tackle telecom-linked financial frauds through real-time data sharing and coordinated intelligence exchange.
The agreement aims to bridge a critical gap between telecom infrastructure and financial market surveillance, as fraudsters increasingly exploit mobile networks to target investors and execute scams.
Real-time data sharing at the core
At the heart of the MoU is a structured framework for sharing actionable intelligence between the two regulators. The collaboration enables real-time exchange of data through DoT’s Digital Intelligence Platform (DIP), a system that already connects over 1,400 stakeholders including banks, telecom operators, and law enforcement agencies.
This platform will allow authorities to quickly identify and act on suspicious activities, shifting the approach from reactive enforcement to proactive fraud prevention.
Flagging suspicious mobile numbers
A key feature of the partnership is the use of the Financial Fraud Risk Indicator (FRI), which will be shared by DoT with SEBI. The FRI uses multi-dimensional data analysis to flag mobile numbers linked to potentially fraudulent behaviour.
Additionally, the Mobile Number Revocation List (MNRL) will be automatically shared with SEBI. This will help market intermediaries such as brokers and asset management companies ensure that investor accounts are linked only to active and verified mobile connections, reducing misuse.
Two-way intelligence exchange
The MoU establishes a reciprocal flow of information. While DoT will provide telecom intelligence, SEBI will share inputs on telecom resources linked to fraudulent trading accounts, impersonation cases, and money mule networks.
This two-way coordination is expected to enable faster action, including deactivation of suspicious mobile connections and closer monitoring of fraudulent financial activities.
Focus on early detection of investment scams
The initiative places strong emphasis on early detection of investment-related scams, which have seen a surge alongside the growth of India’s digital investment ecosystem. By integrating telecom data with financial market oversight, regulators aim to detect threats before they result in financial losses.
The FRI system, supported by inputs from financial institutions, law enforcement agencies, and DoT’s Sanchar Saathi platform, acts as an early warning mechanism to flag risky connections before they are used in scams.
Strengthening investor protection
Officials said the collaboration marks a major step toward enhancing investor confidence and safeguarding the integrity of India’s financial markets. The MoU will also enable the development of standard operating procedures and institutional sharing of red-flag indicators for coordinated action.
The partnership builds on existing anti-fraud efforts under the Sanchar Saathi initiative, over 88 lakh fraudulent mobile connections have already been disconnected, helping prevent losses worth around ₹2,300 crore in recent months.
With telecom networks increasingly becoming a gateway for financial fraud, the DoT-SEBI collaboration represents a critical move toward a unified, tech-driven defence system. By enabling real-time intelligence sharing and early risk detection, the initiative is expected to significantly curb telecom-linked financial scams and strengthen India’s digital financial ecosystem.
