RBI Issues Guidelines to Banks and NBFCs for Preventing Financial Frauds via Voice Calls and SMS

In response to the growing threat of financial frauds exploiting mobile numbers, the RBI has directed all regulated entities (REs), including banks, non-banking financial companies (NBFCs), and payment aggregators, to adopt robust safeguards. These measures aim to secure customer data and minimize risks arising from fraudulent communications.

Key Directives:

1. Utilization of Mobile Number Revocation List (MNRL):
   Entities must use the Digital Intelligence Platform (DIP) to monitor and update customer mobile data, ensuring flagged numbers are not used in fraudulent activities.
2. Verification of Customer Care Numbers:
   Verified contact details must be shared with the DoT’s “Sanchar Saathi” portal to enhance transparency.
3. Standardized Numbering Series:
   • Use ‘1600xx’ series for service/transactional calls.
   • Use ‘140xx’ series for promotional calls.
   • Adhere to TRAI guidelines to ensure compliance.

   • Nominations Open for FCRF Excellence Awards Honoring Fraud Risk Management Professionals at FutureCrime Summit 2025

4. Awareness Campaigns:
   Entities are urged to inform customers via SMS and emails, emphasizing DND registration, identifying verified numbers, and reporting suspected fraud on platforms like “Chakshu” or the cybercrime helpline (1930).
5. Data Security and Accountability:
   • Confidentiality of customer data must be prioritized.
   • Misuse of headers/templates will attract strict penalties, including disconnection of telecom services.
6. Mandatory Registration on DLT Platforms:
   All entities sending commercial communications must register on Telecom Service Providers’ Distributed Ledger Technology (DLT) platforms, ensuring compliance with TCCCPR-2018 regulations.

Implications for Violations:

Non-compliance, including misuse of mobile numbers or headers, may lead to severe consequences, such as disconnection of telecom resources for up to two years and blacklisting of the violator.

For detailed guidelines, entities can refer to TRAI’s official documents and the RBI’s official communication.

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