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“We are trying to address the issue of unsolicited commercial communication (UCC) through the joint committee of financial regulators such as the RBI and Sebi,” Trai secretary V Raghunandan told ET.
He said that the panel analysed the matter and has identified certain areas in a bid to find ways to prevent financial frauds largely aimed at luring mobile subscribers with a phishing link. Last week, Trai chairman PD Vaghela had led a detailed discussion with financial sector regulators.
“They (fraudsters) share a URL with some changes that lead to a phishing site. We are trying to address it by asking principal entities such as banks and other financial institutions to whitelist their websites or links,” Raghunandan said.
A whitelist is a mechanism that labels some identified entities as authentic or trustworthy. It is typically an allow list and is used as part of a cybersecurity strategy that approves a list of email addresses, IP addresses, domain names or applications, while denying all others.
The process to check phishing involves scrubbing a link, shared by an attacker, with those whitelisted already. A malicious URL would eventually be dropped using a distributed ledger technology (DLT) platform.
Trai is one of the pioneers in adopting blockchain technology. In 2018, it had mandated telcos to use the technology to check pesky calls and messages. But still, last year, Sweden’s Truecaller<\/a> ranked India as the fourth-most spammed country worldwide.
In order to monitor unregistered telemarketers, the telecom regulator is separately using artificial intelligence (AI<\/a>) technology.