The RBI's recent circular on the Mobile Number Revocation List (MNRL) isn't just a gentle suggestion; it's a clear directive for financial institutions to fortify their defenses against cyber fraud. Let's look at the circular's core actionables, focusing on the key instruction: "Regulated entities (REs) shall mandatorily use the MNRL, provided by the Department of Telecommunications (DoT) through the Digital Intelligence Platform (DIP), for updation of mobile numbers of their customers." -

And to emphasize the urgency, the RBI explicitly states, “All REs are advised to ensure compliance with the above instructions expeditiously, in any case not later than March 31, 2025.”

That's right, March 31, 2025. The clock is ticking, and financial institutions need to act now.

‍

‍

This isn't just about "identifying and managing" in a vague sense. It's about actively using the MNRL to update and verify customer mobile numbers within your systems. This means you need:

• Real-time or near-real-time checks: To ensure that any newly registered or updated mobile numbers are not on the revoked list.
• Periodic database scrubs: To proactively identify and flag existing customer accounts linked to revoked numbers.
• Enhanced verification processes: To confirm the legitimacy of any mobile number updates.

Here's the thing: at Bureau, we weren't caught off guard by this. We've been anticipating and addressing these challenges long before the official mandate. We've always believed in proactive security, and now, with the RBI's directive, we're reaffirming our position as a forward-thinking leader in fraud prevention.

Think of it this way: While others are scrambling to catch up, you can leverage Bureau's MNRL API, a solution built on years of experience and a deep understanding of digital identity decisioning.

Here are some FAQs that can help you with our integration process and the benefits.

Integrating with MNRL to Keep Your Database Clean

• "How do we actually get the MNRL data into our systems?"
  • We get it. Dealing with new data streams can be a headache. Bureau simplifies this by providing a straightforward "yes/no" flag for revoked numbers, along with the timeframe of the revocation. Think of it as a quick check that tells you, "Hey, this number's off the books."
• "How often do we need to check these numbers?"
  • You've got options. We can set up monthly checks to clean your database, or you can use our APIs for real-time checks. Either way, you'll be constantly updated.

Identifying and Verifying Revoked Numbers

• "How do we find accounts linked to these revoked numbers?"
  • Bureau goes beyond just matching numbers. We give you a deeper look into the user's digital footprint, their social media presence, and how their phone number is associated with their name. It's like doing a background check with just a phone number.
• "How do we know if someone's really using their own number when they register?"
  • We can help you figure out if the number they're using is their primary number. This adds an extra layer of security, making it harder for fraudsters to slip through.

Fraud Risk Monitoring with the Bureau MNRL API 

• "How do we keep track of accounts linked to revoked numbers?"
  • Real-time monitoring is key. We can help you track changes in user behavior, so you can spot anything suspicious as soon as it happens.
• "How do we get alerted when something's not right?"
  • We can set up instant alerts whenever there's a change in behavior for flagged accounts. You'll get notified right away, so you can take action.

AML compliance by Preventing Money Mules  

• "How do we know if an account is being used for money laundering?"
  • Our Money Mule Score solution is designed to spot these accounts early. We use a combination of data points, including phone numbers, names, and emails, to identify potential mules.
• "How do we set up our internal processes for this?"
  • Bureau provides various data flags that can be used to create your own customized rules. This helps you to create clear and effective SOPs for dealing with MNRL compliance.

Don't let the March 2025 deadline catch you off guard. Bureau's MNRL API is ready now—ensure compliance, avoid fines, and protect your customers today. Get it touch with us for the MNRL API.

‍