Maharashtra based Vasai Vikas Sahakari Bank has taken a major step toward strengthening digital banking security by implementing three advanced fraud prevention systems in collaboration with the Department of Telecommunications.
The Bank has integrated the Mobile Number Revocation List (MNRL), Digital Intelligence System (DIS), and Fraud Risk Indicator (FRI) platforms to proactively detect and prevent fraud. These tools help track risks linked to mobile number changes, telecom-based frauds, and suspicious financial transactions in real time.
Chairman Ashay H. Raut said the initiative reinforces customer trust and reflects the Bank’s commitment to adopting modern, secure technologies. CEO Dilip Y. Thakur highlighted that the systems enhance risk management through real-time intelligence sharing.
Chief Information Security Officer Ashok HN Tiwari explained that features like MNRL help curb SIM swap fraud, while DIS and FRI strengthen early fraud detection.
This move underscores the Bank’s focus on cyber security, compliance, and building a safer digital banking ecosystem.