DoT Shuts Down 4 Lakh SIM Cards for Scam/Frauds

The Department of Telecommunications (DoT) has shut down around 3-4 lakh SIM cards in India. This is because these SIMs were categorised as high-risk fraud accounts. The government of India has become very strict in handling spam/scam and fraud communications. SIM card issuing rules have been tightened, and along with that, more surveillance systems have been implemented to identify fraudsters. According to the data from the Financial Risk Indicator (FRI), launched earlier this year (in May), 2,000 SIM cards are flagged daily for being involved in financial scams.

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Using AI (artificial intelligence) based pattern matching, more SIM cards are then identified to find out scams and shut them down. Since the inception of UPI, while transacting for users have become easier, the fraudsters have leveraged it as a platform to get money from peeople. All the banks in India have already been advised to integrate FRI in their system.

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According to an ET report, this has helped with reducing time to take action on fraud accounts. Using the FRI, financial insitutions and banks are able to prevent fraudulent transactions from taking place. The telcos are also adding security in their network layer so that users can be alerted whenever a fraudlent communication – via calls or text takes place.