Regulators
DoT & SEBI sign MoU to curb telecom-linked financial frauds
Data-sharing pact aims early detection of scams, tighter investor protection
MUMBAI: The Department of Telecommunications (DoT) and the Securities and Exchange Board of India (SEBI) have signed a memorandum of understanding to strengthen coordination in tackling telecom-linked financial frauds and investment scams.
The agreement sets up a structured data-sharing framework between the two regulators, aimed at enabling early detection and disruption of fraudulent activities in the securities market. The MoU was signed by Sanjeev Kumar Sharma, deputy director general at DoT’s AI and digital intelligence unit, and Sandip Pradhan, whole-time member at SEBI, in the presence of Deb Kumar Chakrabarti, member (services), digital communications commission.
At the core of the partnership is the sharing of key intelligence inputs. DoT will provide SEBI with the Financial Fraud Risk Indicator, designed to flag mobile numbers linked to suspicious activity through multi-layered analysis. It will also share the Mobile Number Revocation List, enabling SEBI-regulated entities such as brokers and asset management firms to ensure that investor accounts are linked only to valid and active mobile connections.
In return, SEBI will share information on telecom resources associated with fraudulent trading accounts, impersonation cases and money mule networks, allowing DoT to take faster action on the telecom side.
The collaboration will be powered by DoT’s digital intelligence platform, which connects over 1,400 stakeholders and supports real-time exchange of actionable data across institutions.
The move comes at a time when India’s digital investment ecosystem is expanding rapidly, bringing with it a rise in sophisticated fraud attempts. By integrating telecom intelligence with market surveillance, the regulators aim to shift from reactive enforcement to proactive prevention.
DoT’s existing initiatives under the Sanchar Saathi programme have already led to the disconnection of over 88 lakh fraudulent mobile connections, while the Financial Fraud Risk Indicator has helped prevent losses of around Rs 2,300 crore in the past ten months.
With this pact, both regulators are looking to build a more coordinated and future-ready framework, tightening safeguards and boosting investor confidence in an increasingly digital financial landscape.
