India's Financial Fraud Risk Indicator (FRI), a system developed by the Department of Telecommunications, has reportedly prevented digital payment frauds totaling Rs 660 crore in six months. The FRI analyzes mobile numbers for fraud risk, categorizing them from medium to very high. By integrating data from telecom providers, banks, and cybercrime reports, the system flags high-risk transactions, enabling banks and payment platforms to block or verify them before funds are transferred, thus mitigating losses from various scams.