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.
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.