Cyber frauds on RBI’s radar: Banks mandated to use TRAI’s MNRL technology by March 31, 2025
Reserve Bank of India (RBI) wants to leave no stone unturned when it comes to prevention of cyber fraud with banking consumers. Recently the RBI has given a direction to all banks, etc to use Telecom Regulatory Authority of India (TRAI)’s MNRL list available on the Digital Intelligence Platform (DIP) to enhance the bank’s fraud risk monitoring and prevention. This technology developed by the Ministry of Communications can prevent bank accounts from being operated as Money Mules and / or being involved in cyber frauds.
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RBI says mobile number can be misused by scamsters for committing online and other frauds
The RBI also acknowledged the mobile number has emerged as a ‘ubiquitous identifier’ and can be misused by scamsters for committing various types of online and other frauds, hence the reason why using TRAI’s MNRL technology makes sense.
The RBI in a notification dated January 17, 2025, said: “The proliferation of digital transactions, while offering convenience and efficiency, has also led to a surge in frauds, a pressing concern underscoring the need for concerted action. The mobile number of a customer has emerged as a ubiquitous identifier, instrumental in account authentication and verification process, receiving sensitive payment communication, such as OTPs, transaction alerts, account updates, etc. The mobile number, however, can also be misused by scamsters in multiple ways for committing various types of online and other frauds.”
