NewzVille Desk
The Department of Telecommunications (DoT) and the Securities and Exchange Board of India (SEBI) today signed 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 Sanjeev Kumar Sharma, Deputy Director General, AI & Digital Intelligence Unit (AI&DIU), DoT, and Sandip Pradhan, Whole Time Member, SEBI, in the presence of Deb Kumar Chakrabarti, Member (Services), Digital Communications Commission, marking a significant step towards deeper convergence between telecom intelligence and financial market regulation.
The agreement 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.
