Vi Showcases Anti-Phishing Solution to Trail, RBI & Sebi

Vodafone Idea (Vi) on Thursday became the first telecom operator to showcase its anti-phishing solution to the Telecom Regulatory Authority of India (Trai) as well as financial regulators, the Reserve Bank of India and Securities and Exchange Board of India. The operator, currently running a trial of the solution developed by Tanla Platforms, showed an accuracy rate of over 99%. This means that the artificial intelligence (AI)-based solution is stopping phishing attempts through SMSes most of the time. “Vodafone Idea has taken a lead in showcasing the solution. The results seem good and now we are waiting for the other telcos to showcase their solutions,” a Trai official told ET. He said that apart from the regulators, officials from major banks such as SBI and ICICI, as well as LIC, attended the meeting to see the results of the solution.

Trai had earlier asked Bharti Airtel and Reliance Jio to showcase their anti-phishing solution by May. Curbing phishing and cyber frauds have been the topmost priority of the regulators, as they lead to financial losses of an estimated ₹1,000-1,500 crore every month. Trai has been trying various means of curbing phishing and has been advocating the use of AI and machine learning to tackle the menace. As per estimates, India ranks among the largest markets for SMS phishing, with more than six million citizens scammed annually, resulting in an estimated loss of about Rs 15,000 crore. The country’s growing mobile user base and low SMS rates led to SMS phishing becoming one of the most prevalent forms of scam, according to experts.

Industry executives and Trai officials said scammers are becoming smarter and faster to revise their modus operandi within 24 hours, making it difficult for enforcement agencies to catch them. The fraudsters are now recycling SIMS and misusing old registered headers of registered telemarketers. As phishing events rise across the country, enterprises, telcos and regulators have been asking for technology-based solutions that make the digital ecosystem safer. Apart from phishing, Trai has been pushing to implement a solution for checking spammers and pesky callers, especially those who use the normal 10-digit mobile number. Since the existing blockchain-enabled solution does not work to curb spam using the normal 10-digit number, the regulator wants deployment of an AI-based solution that may be helpful in segregating such numbers. S-ET

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