PhonePe and Paytm report averting potential financial fraud losses of ₹200 crore through the Department of Telecom's Fraud Risk Indicator (FRI) platform, as presented by PhonePe co-founder Rahul Chari at the India Mobile Congress. PhonePe alone claims to have prevented losses of about ₹125 crore, blocking more than 10 lakh accounts and 48 lakh transactions. Chari emphasizes the need for broader adoption of the FRI platform for enhanced fraud detection capabilities.