India is launching the Digital Payment Intelligence Platform in an urgent effort to combat the growing threat of digital payment fraud, which now accounts for more than half of all banking fraud cases, according to the Reserve Bank of India, CoinGeek reports.
Developed by the Reserve Bank Innovation Hub in collaboration with leading banks, DPIP will harness AI and machine learning to detect fraud in real time by aggregating data across the financial sector. This initiative follows a 41.7% rise in Unified Payments Interface transactions and concerning findings that one in five UPI user households has experienced fraud. Despite prior tools like MuleHunter.AI and public awareness campaigns, underreporting remains widespread. The RBI and NPCI are also introducing secure domains, a cybercrime hotline, and a new cybersecurity certification program through a partnership with IDRBT. As digital payments expand, experts stress that only coordinated, data-driven approaches can keep pace with evolving cyber threats and restore public trust.
Developed by the Reserve Bank Innovation Hub in collaboration with leading banks, DPIP will harness AI and machine learning to detect fraud in real time by aggregating data across the financial sector. This initiative follows a 41.7% rise in Unified Payments Interface transactions and concerning findings that one in five UPI user households has experienced fraud. Despite prior tools like MuleHunter.AI and public awareness campaigns, underreporting remains widespread. The RBI and NPCI are also introducing secure domains, a cybercrime hotline, and a new cybersecurity certification program through a partnership with IDRBT. As digital payments expand, experts stress that only coordinated, data-driven approaches can keep pace with evolving cyber threats and restore public trust.
