**Executive Summary**
The Department of Telecommunications (DoT) and the Securities and Exchange Board of India (SEBI) signed a Memorandum of Understanding (MoU) on April 15, 2026, to combat telecom-linked financial frauds and securities market scams. This strategic partnership establishes a structured, real-time data-sharing mechanism to enable early detection and proactive prevention of fraudulent activities. Key outcomes include the integration of telecom intelligence with market surveillance to protect investors and reinforce the security of India’s digital financial ecosystem.
**Key Points / Main Content**
**Data Sharing and Intelligence Exchange**
* **Financial Fraud Risk Indicator (FRI):** DoT will share the FRI with SEBI to identify mobile numbers linked to suspicious patterns through multi-dimensional analysis.
* **Mobile Number Revocation List (MNRL):** This list will be shared automatically to ensure SEBI-regulated entities link investor accounts only to active and valid mobile connections.
* **Reciprocal Reporting:** SEBI will provide DoT with data on telecom resources linked to accounts involved in impersonation, money mule activities, or cyber fraud.
**Technological Infrastructure**
* **Digital Intelligence Platform (DIP):** Real-time information exchange is facilitated through this platform, which connects over 1,400 stakeholders.
* **Sanchar Saathi & Chakshu:** The collaboration leverages DoT’s existing facilities, including the Chakshu facility, to act as an early warning system for flagging fraudulent mobile connections.
* **ASTR Implementation:** The document notes that DoT’s ongoing initiatives have already disconnected over 88 lakh fraudulent connections and prevented losses of approximately ₹2300 crore.
**Operational Framework and Goals**
* **Proactive Prevention:** The MoU shifts the focus from reactive enforcement to proactive prevention by integrating telecom intelligence into market surveillance systems.
* **Standard Operating Procedures (SOPs):** The partnership will facilitate the development of SOPs for coordinated institutional action against evolving cyber threats.
* **Ecosystem Trust:** The collaboration aims to enhance institutional trust and strengthen the safety of India’s digital investment landscape.
**Impact Analysis**
**Department of Telecommunications (DoT)**
**Impact:** Gains access to SEBI’s intelligence regarding telecom resources used in financial crimes, allowing for swift action (such as disconnection) in the telecom domain.
**Action Required:** Maintain the Digital Intelligence Platform (DIP) and provide regular updates of the FRI and MNRL to SEBI.
**Securities and Exchange Board of India (SEBI)**
**Impact:** Receives advanced telecom intelligence to detect securities market scams early and transitions to a more proactive surveillance model.
**Action Required:** Integrate received telecom data into market surveillance systems and provide reciprocal inputs to DoT regarding fraudulent financial accounts.
**SEBI-regulated Entities (Brokers and Asset Management Companies)**
**Impact:** These entities are empowered to validate that investor accounts are associated with active, legitimate mobile numbers, reducing the risk of fraud.
**Action Required:** Use the Mobile Number Revocation List (MNRL) to audit and ensure the validity of mobile connections linked to investor accounts.
**Investors**
**Impact:** Benefit from a more secure digital investment environment with reduced exposure to telecom-linked scams and financial losses.
**Action Required:** No direct action is specified, but investors are the primary beneficiaries of the enhanced protection and early warning systems.
Key Entities Referenced
Securities and Exchange Board of India (SEBI): The capital markets regulator and primary party to the MoU, focused on protecting investors from securities market scams.
Department of Telecommunications (DoT): The telecom regulator and primary party to the MoU, providing intelligence on the misuse of telecom resources for financial fraud.
Digital Intelligence Platform (DIP): DoT's coordination platform that facilitates real-time sharing of actionable information across 1,400 stakeholders to disrupt fraudulent activities.
Sanchar Saathi: A telecom security initiative by DoT that hosts the Chakshu facility to flag fraudulent mobile connections and prevent financial losses.
Financial Fraud Risk Indicator (FRI): A data-sharing mechanism used as an early warning system to identify mobile numbers linked to suspicious patterns through multi-dimensional analysis.
Ministry of Communications
DoT and SEBI Sign MoU to Strengthen Fight
Against Telecom-Linked Financial Frauds
Strategic Data Sharing to Enable Early Detection of Securities
Market Scams and Protect Investors
Posted On: 15 APR 2026 5:00PM by PIB Delhi
In a significant move to reinforce the security of India’s financial ecosystem, the Department of
Telecommunications (DoT) and the Securities and Exchange Board of India (SEBI) today entered into a
strategic partnership by signing a Memorandum of Understanding (MoU) to enhance cooperation in
tackling the misuse of telecom resources in securities market frauds and investment-related scams.
The MoU was signed by Shri Sanjeev Kumar Sharma, Deputy Director General, AI & Digital Intelligence
Unit (AI&DIU), DoT, and Shri Sandip Pradhan, Whole Time Member, SEBI, in the presence of Shri Deb
Kumar Chakrabarti, Member (Services), Digital Communications Commission, marking a significant step
towards deeper convergence between telecom intelligence and financial market regulation.Key provisions of the DoT–SEBI partnership
At the heart of the agreement is a structured data-sharing mechanism aimed at early detection and
disruption of fraudulent activities. DoT will share the Financial Fraud Risk Indicator (FRI) with SEBI to
help identify mobile numbers linked to suspicious patterns through multi-dimensional analysis. The
Mobile Number Revocation List (MNRL) will also be shared automatically, enabling SEBI-regulated
entities, including brokers and asset management companies, to ensure that investor accounts are
associated only with active and valid mobile connections. In a reciprocal arrangement, SEBI will provide
inputs on telecom resources linked to accounts involved in cyber fraud, impersonation or money mule
activities, allowing swift action in the telecom domain.
This intelligence exchange will be enabled through DoT’s Digital Intelligence Platform (DIP), which
currently connects more than 1400 stakeholders and facilitates real-time sharing of actionable information
across institutions.
Towards a Proactive and Integrated Framework for Investor Protection
The collaboration assumes particular significance in the context of India’s rapidly expanding digital
investment landscape. By integrating telecom intelligence with market surveillance systems, the MoU
enables a transition from reactive enforcement to proactive prevention. The Financial Fraud Risk
Indicator, drawing upon inputs from DoT’s Chakshu facility under Sanchar Saathi, financial institutions
and Law Enforcement Agencies, will act as an early warning system to flag potentially fraudulent mobile
connections before they are leveraged for financial scams.
The partnership builds upon the strong foundation laid by DoT’s ongoing initiatives. Under Sanchar
Saathi, over 88 lakh fraudulent mobile connections have already been disconnected using ASTR. The
deployment of FRI has helped prevent financial losses of approximately ₹2300 crore in the past ten
months.Going ahead, the MoU will facilitate the development of standard operating procedures for coordinated
action and enable the sharing of red-flag indicators at an institutional level. With continuous engagement
and adaptive mechanisms to counter evolving cyber threats, the DoT-SEBI collaboration is poised to
significantly strengthen investor protection and enhance trust in India’s digital and financial ecosystem.
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