A Creative Solution to Combat Financial Fraud by Indian Regulators

Ever received a call claiming to be from your bank, only to find out it was a scam?

This is a daily reality for many in India (and frankly most countries), where impersonation fraud has become a major threat to financial security.

In fact, the problem is so widespread that Netflix created an entire series, Jamtara, showcasing the tactics fraudsters use to prey on unsuspecting victims—often with the backing of local politicians.

But here’s the good news: The Telecom Regulatory Authority of India (TRAI) is stepping up with a creative, systemic solution.

Introducing the 160 Series

TRAI’s new regulations aim to make fraud calls easier to spot. By assigning specific number series to trusted entities, they’re enabling consumers to distinguish legitimate calls from potential scams:

📞 1600 Series: Reserved for government bodies and regulators for service and transactional communications.
📞 1601 Series: Dedicated to financial institutions regulated by RBI (think Federal Reserve), SEBI (think SEC), IRDAI (insurance regulatory body), and PFRDA (pension regulatory body)
📞 140 Series: Now strictly for telemarketing and promotional calls.

This works much like the familiar 1-800 numbers in the US, but with an anti-fraud twist. Now, Indian consumers can immediately verify if a call is from a legitimate financial institution just by looking at the first four digits.

While implementation through state governments might present some challenges, this is exactly the kind of creative thinking we need to combat financial fraud in the digital age.

Won’t be surprised if other countries soon follow suit!

More details here