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Time of India
15 hours ago
- Business
- Time of India
Cybersecurity boost: Banks, RBI move to launch Digital Fraud Detection Platform amid soaring crimes - All you need to know
This is an AI-generated image, used for representational purposes only. In a concerted push to tackle the rising wave of digital payment frauds, major public and private sector banks are collaborating with the Reserve Bank of India (RBI) to develop a Digital Payment Intelligence Platform (DPIP), a new Digital Public Infrastructure aimed at enhancing fraud risk management As per the news agency PTI, the proposed platform will enable real-time intelligence sharing and data analysis to detect and prevent fraudulent digital transactions. According to sources, the RBI-led initiative is a top priority and is expected to go live in the coming months. The Reserve Bank Innovation Hub (RBIH) has been tasked with building a prototype of DPIP in consultation with 5–10 banks. 'Fraud is a common monster,' a source said, underlining why both public and private banks are being roped in to co-develop the platform. A high-level meeting was recently held to finalise its institutional structure, with participation from senior bank executives and RBI officials. The platform comes in response to a sharp spike in fraud cases. As per the RBI's latest annual report, bank frauds jumped nearly threefold to Rs 36,014 crore in FY25, compared to Rs 12,230 crore a year ago. Public sector banks reported Rs 25,667 crore worth of frauds—up from Rs 9,254 crore in FY24. While card and internet payment frauds dominated in the private sector, public sector banks faced large-scale fraud in their loan portfolios. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Aparat de sudură cu laser de 9000 W (4 în 1) – o revoluție în sudură! Află mai multe Undo A few weeks ago, Airtel approached over 40 banks, RBI and NPCI, proposing collaboration to create a repository of known fraudulent domains to enable proactive blocking of rogue sites. The telecom major also highlighted risks posed by OTT messaging platforms, calling them the weakest link in fraud prevention due to lack of regulatory oversight. Airtel Vice Chairman and MD Gopal Vittal, in a letter to NPCI MD & CEO Dilip Asbe, proposed 'closer collaboration to create a repository of known fraudulent financial domains,' and favoured joint public awareness campaigns and technical cooperation to counter online scams. 'The external threat landscape is evolving rapidly. Systems like are useful, but still reactive,' Vittal wrote to the RBI, stressing that fraud must be stopped at the first step—when a user attempts to access a malicious site. The telco's proposal received positive responses from banks and the NPCI, sources said. Airtel has also sought to join forces with Jio and Vodafone Idea to initiate a joint industry-level defence against telecom-based scams. In the first nine months of 2024 alone, India reported over 1.7 million cybercrime complaints, resulting in losses exceeding Rs 11,000 crore. These figures underscore the urgency of building a coordinated, tech-driven ecosystem like DPIP to shield consumers and financial systems from the growing digital threat. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
08-06-2025
- Business
- Time of India
Bharti Airtel MD writes to banks, NPCI, RBI to join forces against digital frauds; moots collaborative measures
Telecom operator Airtel has approached over 40 banks, as well as RBI and NPCI, proposing a close collaboration and a unified front to curb digital frauds, including sharing intelligence over repository of known fraudulent financial domains. Airtel has dialled NPCI, proposing a "closer collaboration" to create a repository of known malicious financial domains, to enable proactive blocking of malicious and rogue sites and to build a multi-layered defence to combat digital frauds. The Sunil Mittal-led telco has also done a similar outreach with major banks, including SBI, HDFC and others, sources said. The company has also reached out to the Reserve Bank of India (RBI) for "collaboration" to create a repository of known fraudulent financial domains. Airtel has also favoured regulatory consultations, offering its support to the RBI in building frameworks that hold OTT platforms accountable for consumer safety -- especially in the context of financial communication, according to the letter seen by PTI. It has also mooted joint public education campaigns to raise awareness about evolving digital fraud tactics and safe practices. In a separate letter to NPCI, Airtel said it believes there is a strong potential for a partnership between Airtel and NPCI to further strengthen the security of India's digital payment systems. An email sent to Airtel did not elicit a response. "The NPCI has been at the forefront of securing digital transactions in India, deploying cutting-edge AI/ML-based models that offer an advanced real-time Fraud Risk Monitoring and Management solution (FRM) that generates alerts and allows banks to detect and prevent fraud across all online NPCI products. "Airtel commends this proactive approach and NPCI's efforts in reducing the growing risks of fraud in an increasingly digital financial landscape, where threats are constantly evolving," Gopal Vittal , Vice Chairman and Managing Director of Airtel, said in a communication to Dilip Asbe, MD and CEO, National Payments Corporation of India (NPCI). Informing about the launch of Airtel's fraud detection solution to combat consumer fraud via malicious links, the telco said the solution can significantly complement NPCI's existing fraud monitoring initiatives. By blocking access to malicious websites and phishing links at the point of access, Airtel can help prevent users from unknowingly engaging with fraudulent sites that could compromise their financial data, the telco said. "Additionally, during these programs as well as our overall telco acquisition and experience, we believe that we have strong signals that could lead to identification of potentially fraudulent transactions or users," the Airtel top honcho wrote, adding that the company believes there is strong potential for a partnership between Airtel and NPCI to further strengthen the security of India's digital payment systems. "We propose the following actions to enhance this partnership... Closer collaboration between Airtel and NPCI to create a repository of known fraudulent financial domains, enabling proactive blocking of these malicious sites and creating a multi-layered defence against digital fraud," said the letter dated May 16. Airtel has also pitched for joint awareness campaigns and workshops. The telecom operator proposed that joint awareness campaigns can leverage the combined reach of Airtel and NPCI to educate users on safe online practices, recognising phishing attempts, and staying protected against emerging digital fraud tactics; while the workshops would identify and productise a counter fraud solution -- in the process helping reduce financial frauds in the country. "Through this collaboration, NPCI, Airtel, and the banking sector can collectively create a more robust and resilient framework for reducing fraud and building greater confidence in India's digital financial services. Airtel remains committed to doing its part and would be happy to provide further technical details and explore how we can work together with the NPCI to enhance the security and integrity of India's digital payments ecosystem," Airtel said. In the letter to RBI Governor Sanjay Malhotra, Vittal lauded the efforts of the Reserve Bank of India in fighting digital fraud, especially the recent initiative to collaborate with regulated entities and the Reserve Bank Innovation Hub (RBIH) on the development of "This powerful AI-based system has already demonstrated its ability to identify mule accounts used to route illicit funds. By analysing user behaviour and transaction patterns, banks can now flag and disable suspicious accounts more efficiently, thereby disrupting fraud at the transactional layer," Vittal wrote. However, Airtel said these systems remain largely reactive, detecting threats after fraudsters are already embedded in the financial ecosystem. "Airtel believes that our fraud detection solution can complement these efforts by stopping fraud at the very first step: the moment a user attempts to access a malicious site," Airtel said. Stating that India's financial system is the cornerstone of national growth, trust, and international standing, Airtel said protecting this system demands collaboration between all stakeholders -- regulators, service providers, and financial institutions alike. "Airtel remains committed to doing its part and would be happy to provide further technical details and explore how we can work together with the RBI in this critical fight against digital fraud," Vittal wrote. Citing the "mounting security risks on OTT platforms", Airtel said achieving SMS-like level of protection on OTT platforms is "impossible" since fraudulent links sent over these platforms are harder to detect and block before they reach users, making OTT channels the weakest link in the fight against online scams. Additionally, the lack of traceability and compliance requirements on OTT apps, such as data sovereignty, data confidentiality, encryption standards, and system access for regulators create serious security concerns. This issue has been further exacerbated by the increasing reliance of financial institutions on OTT (communications) channels for sending transactional and service messages, to sidestep the regulatory requirements governing telecom networks, Airtel said, cautioning that this heightens security vulnerabilities. "In this context, and in light of the ongoing RBI consultation on additional factor authentication (AFA) for digital payments, we wish to emphasise that financial transactions must continue to be conducted over secure telecom networks. Telecom networks offer a level of protection and oversight that OTT platforms currently lack, thereby helping to mitigate fraud risks and enhance overall consumer safety," Vittal said. Sources said the telco has received a favourable response to the collaboration pitch from private and state-owned banks. Earlier, Airtel had also reached out to Reliance Jio and Vodafone Idea with a proposal for a joint telecom fraud initiative to unite the industry against rising fraud and scams on telecom networks. In separate letters to the telcos, it had cited data that India recorded over 1.7 million cybercrime complaints in the first nine months of 2024, resulting in financial losses exceeding Rs 11,000 crore. Airtel had urged all telcos to collaborate and collectively address the growing threat of deceptive and malicious scams targeting vulnerable individuals.
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Business Standard
08-06-2025
- Business
- Business Standard
Airtel urges RBI, NPCI and banks to collaborate on digital fraud fight
Bharti Airtel has approached around 40 banks, the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI), seeking collaboration to establish a collective database of known fraudulent financial domains. Airtel expressed support for regulatory discussions and offered assistance to the RBI in framing mechanisms to ensure that over-the-top (OTT) platforms are held responsible for consumer protection in financial communication, according to a PTI report. The company has also proposed launching joint awareness campaigns to inform the public about evolving tactics in digital fraud and to promote secure digital practices. On 15 May, Airtel introduced an artificial intelligence (AI) based security platform designed to block fraudulent websites in real time, aiming to prevent digital scams targeting users. In a regulatory filing, Airtel stated that the service is the first of its kind globally. The platform has been launched in Haryana and will be expanded to other parts of India in due course. According to Airtel, the solution is compatible with multiple communication platforms, including WhatsApp, Telegram, Facebook, Instagram, emails, web browsers and SMS. Collaboration with NPCI In a separate communication to NPCI, Airtel suggested a partnership to improve the safety of the country's digital payment infrastructure. The telecom operator proposed that awareness initiatives use the combined outreach of Airtel and NPCI to educate users on secure online behaviour, identifying phishing threats and protecting against new digital fraud methods. It also suggested workshops to develop and commercialise anti-fraud solutions to help reduce financial fraud cases. In the communication, Airtel Vice Chairman and Managing Director Gopal Vittal wrote to NPCI MD and CEO Dilip Asbe: 'The NPCI has been deploying AI-based models that offer an advanced real-time Fraud Risk Monitoring and Management solution that generates alerts and allows banks to detect and prevent fraud across all online NPCI products.' Airtel outlined specific proposals in its 16 May letter, including: 'Closer collaboration between Airtel and NPCI to create a repository of known fraudulent financial domains, enabling proactive blocking of these malicious sites and creating a multi-layered defence against digital fraud.' Airtel said its fraud detection technology, which restricts access to malicious websites and phishing links at the access point, could complement NPCI's existing systems. The telecom stated: 'Additionally, during these programmes as well as our overall telco acquisition and experience, we believe that we have strong signals that could lead to identification of potentially fraudulent transactions or users.' It also recommended joint awareness efforts and workshops to build fraud resistance in the digital payments ecosystem. 'Through this collaboration, NPCI, Airtel and the banking sector can collectively create a more robust and resilient framework for reducing fraud and building greater confidence in India's digital financial services. Airtel remains committed to doing its part and would be happy to provide further technical details and explore how we can work together with the NPCI to enhance the security and integrity of India's digital payments ecosystem,' the letter said. RBI partnership In a separate letter to RBI Governor Sanjay Malhotra, Vittal acknowledged the central bank's initiatives, including its work with regulated entities and the Reserve Bank Innovation Hub (RBIH) on the system. Vittal wrote: 'This powerful AI-based system has already demonstrated its ability to identify mule accounts used to route illicit funds. By analysing user behaviour and transaction patterns, banks can now flag and disable suspicious accounts more efficiently, thereby disrupting fraud at the transactional layer.' He added: 'Airtel believes that our fraud detection solution can complement these efforts by stopping fraud at the very first step: the moment a user attempts to access a malicious site.' 'Airtel remains committed to doing its part and would be happy to provide further technical details and explore how we can work together with the RBI in this critical fight against digital fraud,' Vittal stated. OTT cyber risks The company also raised concerns about security risks associated with OTT platforms. It said replicating the protection level of SMS on OTT platforms is 'impossible' because detecting and blocking fraudulent links on these platforms is more difficult compared with websites. Airtel also noted the absence of traceability, compliance obligations and regulatory access within OTT platforms. 'In this context, and in light of the ongoing RBI consultation on additional factor authentication (AFA) for digital payments, we wish to emphasise that financial transactions must continue to be conducted over secure telecom networks. Telecom networks offer a level of protection and oversight that OTT platforms currently lack, thereby helping to mitigate fraud risks and enhance overall consumer safety,' Vittal wrote. Banking industry Airtel's collaboration proposals received positive feedback from both private and public sector banks. Previously, Airtel had approached Reliance Jio and Vodafone Idea to propose a joint initiative against telecom fraud, aimed at addressing scams targeting users through telecom networks. In those letters, Airtel cited data showing that over 1.7 million cybercrime complaints were recorded in the first nine months of 2024, with financial losses exceeding ₹11,000 crore. The company urged all telecom providers to jointly work to combat fraudulent and deceptive practices targeting individuals.
Time of India
08-06-2025
- Business
- Time of India
Airtel MD writes to banks, NPCI, RBI to join forces against digital frauds; moots collaborative measures
Telecom operator Airtel has approached over 40 banks, as well as RBI and NPCI, proposing a close collaboration and a unified front to curb digital frauds, including sharing intelligence over repository of known fraudulent financial domains. Airtel has dialled NPCI, proposing a "closer collaboration" to create a repository of known malicious financial domains, to enable proactive blocking of malicious and rogue sites and to build a multi-layered defence to combat digital frauds. The Sunil Mittal-led telco has also done a similar outreach with major banks, including SBI , HDFC and others, sources said. The company has also reached out to the Reserve Bank of India (RBI) for "collaboration" to create a repository of known fraudulent financial domains. Airtel has also favoured regulatory consultations, offering its support to the RBI in building frameworks that hold OTT platforms accountable for consumer safety -- especially in the context of financial communication, according to the letter seen by PTI. Live Events It has also mooted joint public education campaigns to raise awareness about evolving digital fraud tactics and safe practices. In a separate letter to NPCI, Airtel said it believes there is a strong potential for a partnership between Airtel and NPCI to further strengthen the security of India's digital payment systems. An email sent to Airtel did not elicit a response. "The NPCI has been at the forefront of securing digital transactions in India, deploying cutting-edge AI/ML-based models that offer an advanced real-time Fraud Risk Monitoring and Management solution (FRM) that generates alerts and allows banks to detect and prevent fraud across all online NPCI products. "Airtel commends this proactive approach and NPCI's efforts in reducing the growing risks of fraud in an increasingly digital financial landscape, where threats are constantly evolving," Gopal Vittal, Vice Chairman and Managing Director of Airtel, said in a communication to Dilip Asbe, MD and CEO, National Payments Corporation of India (NPCI). Informing about the launch of Airtel's fraud detection solution to combat consumer fraud via malicious links, the telco said the solution can significantly complement NPCI's existing fraud monitoring initiatives. By blocking access to malicious websites and phishing links at the point of access, Airtel can help prevent users from unknowingly engaging with fraudulent sites that could compromise their financial data, the telco said. "Additionally, during these programs as well as our overall telco acquisition and experience, we believe that we have strong signals that could lead to identification of potentially fraudulent transactions or users," the Airtel top honcho wrote, adding that the company believes there is strong potential for a partnership between Airtel and NPCI to further strengthen the security of India's digital payment systems. "We propose the following actions to enhance this partnership... Closer collaboration between Airtel and NPCI to create a repository of known fraudulent financial domains, enabling proactive blocking of these malicious sites and creating a multi-layered defence against digital fraud," said the letter dated May 16. Airtel has also pitched for joint awareness campaigns and workshops. The telecom operator proposed that joint awareness campaigns can leverage the combined reach of Airtel and NPCI to educate users on safe online practices, recognising phishing attempts, and staying protected against emerging digital fraud tactics; while the workshops would identify and productise a counter fraud solution -- in the process helping reduce financial frauds in the country. "Through this collaboration, NPCI, Airtel, and the banking sector can collectively create a more robust and resilient framework for reducing fraud and building greater confidence in India's digital financial services. Airtel remains committed to doing its part and would be happy to provide further technical details and explore how we can work together with the NPCI to enhance the security and integrity of India's digital payments ecosystem," Airtel said. In the letter to RBI Governor Sanjay Malhotra , Vittal lauded the efforts of the Reserve Bank of India in fighting digital fraud, especially the recent initiative to collaborate with regulated entities and the Reserve Bank Innovation Hub (RBIH) on the development of "This powerful AI-based system has already demonstrated its ability to identify mule accounts used to route illicit funds. By analysing user behaviour and transaction patterns, banks can now flag and disable suspicious accounts more efficiently, thereby disrupting fraud at the transactional layer," Vittal wrote. However, Airtel said these systems remain largely reactive, detecting threats after fraudsters are already embedded in the financial ecosystem. "Airtel believes that our fraud detection solution can complement these efforts by stopping fraud at the very first step: the moment a user attempts to access a malicious site," Airtel said. Stating that India's financial system is the cornerstone of national growth, trust, and international standing, Airtel said protecting this system demands collaboration between all stakeholders -- regulators, service providers, and financial institutions alike. "Airtel remains committed to doing its part and would be happy to provide further technical details and explore how we can work together with the RBI in this critical fight against digital fraud," Vittal wrote. Citing the "mounting security risks on OTT platforms", Airtel said achieving SMS-like level of protection on OTT platforms is "impossible" since fraudulent links sent over these platforms are harder to detect and block before they reach users, making OTT channels the weakest link in the fight against online scams. Additionally, the lack of traceability and compliance requirements on OTT apps, such as data sovereignty, data confidentiality, encryption standards, and system access for regulators create serious security concerns. This issue has been further exacerbated by the increasing reliance of financial institutions on OTT (communications) channels for sending transactional and service messages, to sidestep the regulatory requirements governing telecom networks, Airtel said, cautioning that this heightens security vulnerabilities. "In this context, and in light of the ongoing RBI consultation on additional factor authentication (AFA) for digital payments, we wish to emphasise that financial transactions must continue to be conducted over secure telecom networks. Telecom networks offer a level of protection and oversight that OTT platforms currently lack, thereby helping to mitigate fraud risks and enhance overall consumer safety," Vittal said. Sources said the telco has received a favourable response to the collaboration pitch from private and state-owned banks. Earlier, Airtel had also reached out to Reliance Jio and Vodafone Idea with a proposal for a joint telecom fraud initiative to unite the industry against rising fraud and scams on telecom networks. In separate letters to the telcos, it had cited data that India recorded over 1.7 million cybercrime complaints in the first nine months of 2024, resulting in financial losses exceeding Rs 11,000 crore. Airtel had urged all telcos to collaborate and collectively address the growing threat of deceptive and malicious scams targeting vulnerable individuals. Economic Times WhatsApp channel )
Time of India
04-06-2025
- Business
- Time of India
Airtel leads over Jio in 5G speeds in June; Vodafone Idea gains in 5G availability: Opensignal
NEW DELHI: Bharti Airtel continued to retain its leadership in the 5G upload and download speed metrics in June, compared to its closest rival Reliance Jio , while third-ranked Vodafone Ide (Vi) is already competing with the larger telecom carriers in terms of 5G availability in select circles, networking testing firm Opensignal said on Wednesday. It, however, cautioned that Jio and Airtel's 5G download speeds are reducing, pointing to a slowdown in their latest-generation networks. Airtel's users recorded an average 5G upload speed of 22.6Mbps in June, which dropped by about 1Mbps compared to October 2024, while Jio's average 5G upload speed increased by 2Mbps to 15.1Mbps during the same period. Airtel's average 5G download speed decreased by 28Mbps since October 2024 to 212Mbps in June, whereas Jio's fell by 21Mbps to 204Mbps in the same period. 'There are further signs that India's established 5G networks — Airtel's and Jio's — are slowing down, as their 5G download scores have fallen,' said Peter Boyland, principal analyst at Opensignal. He attributed the decline in 5G download speeds to an increase in network congestion led by an acceleration in 5G adoption and a rise in data consumption per 5G subscriber. The findings are based on a study of all four Indian telcos for 90 days, starting on February 1, 2025, and ending on May 1, 2025, to see how they fared. Over 300 mn 5G users in India Both Jio and Airtel cumulatively have over 300 million unique 5G subscribers. Gopal Vittal, vice chairman & managing director of Bharti Airtel, at the company's Q4FY25 post-earnings conference call, said that Airtel has 135 million 5G subscribers, and the telecom operator continues to capture its 'fair share' of the 5G device market. As per market trackers, 5G devices now represent 85% of the total smartphone shipments. Anshuman Thakur, head of strategy at Reliance Jio Infocomm, at Reliance Industries' Q4FY25 post-earnings call had said that Jio now has 191 million 5G subscribers, the largest base outside China, and the telecom carrier is also the world's-largest data company in overall data consumption and continues to be ahead of companies from China, including China Mobile. '5G traffic as a percentage of total traffic has been growing, so we are now at 45% of total wireless traffic is on 5G,' Thakur said. 'Vi shows regional 5G gains, BSNL improves too' Vi, which has been losing subscribers to Jio and Airtel, commenced 5G services in Mumbai, Delhi, Chandigarh and Patna in March this year and plans to commercially roll-out its 5G services in 17 priority circles by August. Opensignal found that Vi is already neck-and neck with Airtel for 5G availability, but trails in 5G download and upload speeds. 5G availability refers to the proportion of time users with a 5G device and subscription have an active 5G connection. 'Nevertheless, in Mumbai, our Vi users see the greatest uplift out of the three 5G operators when comparing 5G download speed scores against those for overall download speed experience,' Boyland said. Vi's average 5G download speeds are more than four times faster than its overall speeds, the network testing firm found. State-controlled Bharat Sanchar Nigam Limited (BSNL), the only non-5G operator, saw a more-than-double increase in its download and upload speeds. 'However, the operator remains some distance behind its rivals across all of our metrics, and will have to work hard to close this gap,' Boyland added. The analyst added that there is barely any difference among the three telcos in terms of 5G video experience, 5G live video experience and 5G games experience metrics.
