Data Sutram

As the threat of mule accounts continues to evolve, financial institutions are stepping up their defenses by intensifying employee and agent background checks. This surge in internal verification is driven by regulatory mandates and the critical need to safeguard internal systems against abuse. Banks are better equipped to identify potential risks early, with cost-effective, technology-driven verification processes becoming the norm. However, balancing robust checks and respecting employee privacy remains a challenge. At Data Sutram, we enable financial institutions to strike this balance. Our advanced data intelligence solutions empower seamless, compliant verifications—protecting businesses from fraud while maintaining trust and transparency. Learn how we’re helping India’s leading BFSI entities secure their ecosystems at www.datasutram.com Source: https://lnkd.in/gMw94x4b #FraudPrevention #MuleAccounts #BankingSecurity #DataIntelligence #DigitalBanking #DataSutram #FraudWatch

🚀 Big Milestones at Data Sutram! 🚀 We are thrilled to announce two significant achievements in our commitment to data security and privacy: ✅ Transition from SOC 2 Type 1 to SOC 2 Type 2 Compliance ✅ ISO/IEC 27018 Certification Attained 🔐SOC 2 Type 2: Commitment to Continuous Security This progression from SOC 2 Type 1 demonstrates our focus on operational effectiveness over time, assuring clients that our security controls remain robust and reliable. 🌐 ISO/IEC 27018: Leading Cloud Data Privacy Building on our ISO/IEC 27001:2013 certification, ISO/IEC 27018 establishes us as leaders in safeguarding Personally Identifiable Information (PII) in cloud environments. This certification underscores our alignment with global best practices for cloud privacy. We are dedicated to providing clients with a secure, trusted environment by exceeding industry standards. These milestones reflect our proactive approach to protecting data in an ever-evolving threat landscape. To our team and clients, thank you for being a part of this journey as we continue to deliver secure growth and digital trust. Together, we are shaping a safer future for data-driven innovation. #DataSecurity #SOC2Type2 #ISO27018 #CloudPrivacy #CyberResilience #DigitalTrust #InformationSecurity #DataSutram #InnovationThroughSecurity #SecureGrowth #BFSISolutions

At Data Sutram, we're advancing data science to empower growth and ensure a secure journey for enterprises navigating the demands of a data-driven world. Our platform's holistic data universe offers globally compliant, multi-layered access to an ever-evolving insights ecosystem.   Through seamless integration with 250+ data sources, we provide businesses with a dynamic, interconnected data environment designed to meet global standards. Actionable insights drive every decision, transforming unstructured data into clear, business-ready intelligence. With our platform, enterprises can augment their internal datasets, leveraging external insights for precise, end-to-end support across the customer lifecycle. From risk mitigation to enhanced customer intelligence, our solutions enable smarter, proactive strategies. Data Sutram's infrastructure manages millions of daily transactions using scalable technology designed for high-frequency demands. With 24/7 predictive and emergency support and strict adherence to global data security standards, we enable organizations to expand securely, backed by compliant, scalable tech. Whether you're optimizing for growth, security, or resilience, connect with Data Sutram to scale confidently: www.datasutram.com #DataScience #ScalableIntelligence #GrowthSolutions #RiskManagement #DataSutram #DataSecurity #CustomerIntelligence #BusinessGrowth #Fintech

Responsible for over half of fraud cases in India, mule accounts pose a significant risk, often slipping through standard security checks due to sophisticated evasion tactics. Mule accounts utilize frequent, low-value transactions to blend in, employ identity layering and synthetic data to mask origins, and operate within complex networks that transfer funds across multiple accounts. Their behavioural inconsistencies, like location mismatches and recycled contact details, often go undetected in standard checks. Additionally, multichannel activity across platforms and banking systems complicates traceability further, challenging even the most advanced institutions. How DS Authenticate Solves This Data Sutram’s DS Authenticate tackles these complexities by validating customer information from 250+ sources—including digital footprints, phone intelligence, transaction histories, regulatory records, geospatial data, and behavioural indicators. This comprehensive approach allows us to catch mule accounts both during onboarding and within existing accounts, proactively strengthening financial defenses. Secure your onboarding process with intelligence that sees beyond traditional detection. Explore more: www.datasutram.com #MuleAccounts #FraudPrevention #DataIntelligence #DataSutram #RiskManagement #FinancialSecurity #Fintech #CustomerVerification

A big thank you to Sahamati for hosting #Samvaad2024, a landmark event driving conversations on Open Finance and the transformative potential of the Account Aggregator (AA) ecosystem. This year, the spotlight was on a critical challenge: fortifying India's financial sector against fraud amidst the rapid rise of digital transactions. Our Founder & CEO, Rajit Bhattacharya, joined a distinguished panel to share insights into tackling mule accounts, synthetic identity fraud, and money laundering. We also discussed how the AA ecosystem is reshaping fraud prevention. Key Insights from #SamvAAd2024: 1. Real-Time Data Access: AAs enable instant, secure access to verified financial data, helping identify mismatched transactions or synthetic identities early. For instance, discrepancies in declared income compared to bank statements can flag fraudulent loan applications. 2. Enhanced Risk Profiling: Combining AA data with advanced analytics allows for 360-degree customer risk assessments, detecting anomalies like synthetic identities across datasets. 3. Lifecycle Fraud Detection: Mapping real-time cross-account activity can trace and disrupt mule account networks, ensuring robust fraud prevention. 4. Proactive Compliance with EWS: The AA framework supports compliance with Early Warning System (EWS) mandates while reducing fraud risks through consent-based, transparent data sharing. 5. Building Trust: Integrating AA capabilities strengthens security and fosters collaboration between fintech, banks, and regulators, creating a resilient BFSI ecosystem. The AA ecosystem is more than combating fraud; it creates a safer, scalable, and inclusive financial landscape. 💡 Discover how we’re driving transformation in BFSI security at www.datasutram.com. #OpenFinance #FraudPrevention #AccountAggregator #DataSutram #CyberSecurity #BFSI #AIInFinance #Samvaad2024 #ThoughtLeadership #FintechInnovation

In India, mule accounts contribute to nearly 55% of all fraud cases—a pressing challenge requiring intelligent, scalable solutions. Enter DS Authenticate by Data Sutram: a next-gen solution to safeguard enterprises from high-risk accounts while transforming customer onboarding into a first line of defense. How does it work? DS Authenticate integrates seamlessly into your onboarding process, leveraging insights from 250+ diverse data sources, including: 🔹 Digital Footprints 🔹 Phone Intelligence 🔹 Transaction Histories 🔹 Regulatory Records 🔹 Geospatial Data 🔹 Behavioral Indicators Using this enriched data, DS Authenticate generates a Trust Score that flags high-risk accounts, such as potential mule accounts, early in the process. 📊 Low Trust Score = Higher Fraud Risk With real-time processing and the ability to scale across millions of accounts, DS Authenticate equips financial institutions to: ✅ Detect fraud proactively ✅ Strengthen risk management ✅ Protect their portfolios as they grow Why it matters? Fraud vectors are evolving rapidly. Staying ahead requires a data-backed approach. With DS Authenticate, financial institutions gain the intelligence to make confident decisions, fortify customer trust, and drive sustainable growth. 💡 Ready to elevate your fraud prevention strategy? 📩 Book a demo today: www.datasutram.com/demo #FraudPrevention #RiskManagement #MuleAccounts #DataDriven #FinancialSecurity #CustomerOnboarding #TrustScore #AIinBanking #DigitalBanking #DataSutram #FraudAwarenessWeek

Protecting assets starts with smarter detection. A leading Fincorp in India recently achieved a game-changing milestone: identifying 40% non-starters in the first three deciles, significantly strengthening their asset protection strategy. What powered this transformation? Data Sutram’s intelligence-first tech stack. By leveraging advanced data insights, they’re proactively: 🔹 Filtering high-risk profiles 🔹 Minimizing fraud exposure 🔹 Enhancing financial defenses As we observe #FraudAwarenessWeek, this achievement underscores the role of data-driven intelligence in redefining fraud prevention and asset security for financial institutions. Want to know how Data Sutram can empower your fraud prevention strategy? 📩 Connect with us today: www.datasutram.com/demo #FraudPrevention #DataIntelligence #AssetProtection #RiskManagement #CustomerRisk #FinancialSecurity #DataSutram #FraudAwareness

Digital payment fraud has surged worldwide, with businesses and financial institutions collectively losing over $20 billion each year to increasingly sophisticated tactics. As cyber threats evolve, they expose vulnerabilities not only in technology but also in compliance frameworks and risk management strategies. In a landscape where fraud is becoming harder to detect, the focus must shift from reactive measures to intelligence-led, proactive prevention. Here’s what we think can make the difference for organizations struggling with digital payments fraud. 1) Integrated Risk Scoring Models: Real-time risk assessment models, such as DSTrust Score, allow financial institutions to identify high-risk accounts based on a combination of behavioural data, transaction patterns, and external digital footprints. This integrated approach enables earlier fraud detection, protecting institutions and customers alike. 2) Strengthening Verification Protocols: Fraud prevention is most effective when threats are intercepted at the point of entry. With tools like DS Authenticate, institutions can streamline the KYC process, ensuring that fraudulent actors are detected before they enter the system. By leveraging data from multiple sources, this enhanced verification reduces the chances of mule accounts infiltrating the network. 3) Aligning with Evolving Compliance Standards: The recent RBI updates on fraud risk management underscore the need for advanced, compliance-focused solutions. By working in sync with regulatory guidelines, Data Sutram’s solutions not only meet but anticipate compliance needs, empowering institutions to adapt seamlessly to changing standards. 4) Fostering an Intelligence-Driven Culture: As fraudsters refine their methods, financial institutions must shift toward a culture that emphasizes data intelligence at every level. Collaboration between data science, risk management, and compliance teams is essential to create an agile response framework that keeps pace with emerging threats. Data Sutram’s role in this ecosystem is not just to provide tools but to foster partnerships with financial institutions that prioritize long-term security. These solutions represent the shift the industry needs—one where digital payments are safer, compliance is built-in, and customer trust is paramount. For a closer look at how Data Sutram is redefining fraud prevention in digital payments, visit www.datasutram.com. #DataSutram #FraudPrevention #DigitalSecurity #ProtectingDigitalPayments #FinancialResilience #RealTimeRisk #DataDrivenSecurity #SecureDigitalEconomy #IntelligentFraudDetection

A heartfelt thank you to HDFC Bank and The Times Of India for hosting the Cyber Security Summit 2024, where we addressed the urgent issue of mule accounts, which account for 55% of payment fraud in India. It was an honor to have our Founder & CEO, Rajit Bhattacharya, on the panel, sharing insights on fraud prevention and the best strategies to combat this growing threat. Below are our key takeaways from Rajit’s fireside chat that can help financial institutions better understand the current state of security in BFSI—and what’s needed to improve it. 1.⁠ ⁠Harnessing AI for Pattern Recognition: Fraud often exploits patterns rooted in fear, greed, and isolation across multiple channels. Advanced AI and quantum computing offer unparalleled capabilities to proactively identify these emerging fraud patterns and alert systems. 2.⁠ ⁠Governance in Social Media: Social media frequently serves as a tool for phishing and scams; therefore, regulatory frameworks must focus on enforcing proper governance models. Verified profiles and enhanced information transparency are crucial to minimizing misrepresentation and identity theft. 3.⁠ ⁠Legal Intervention as a Protective Framework: Laws must evolve to support financial institutions in protecting individuals, particularly marginalized communities, from monetary loss. Establishing frameworks for recovering lost funds and ensuring financial justice should be a priority. 4.⁠ ⁠Leveraging Alternative Data: Effective fraud detection increasingly relies on patterns observed across diverse platforms such as social media, e-commerce, wallets, and gaming. These interconnected money trails necessitate a holistic approach to safeguard against misuse and identify irregularities early. 5.⁠ ⁠The Need for Alternative Bureaus: A centralized fraud repository that covers platforms, transactions, and identities could significantly enhance irregularity detection. A regulatory initiative to establish such repositories can transform the speed and precision of fraud prevention efforts. These discussions underscore the critical need for actionable, technology-driven solutions to combat the evolving nature of financial fraud. At Data Sutram, we empower financial institutions with data-driven tools to detect and prevent fraud effectively that help to: 1. Accurately detect and prevent mule accounts with real-time Trust Scores during onboarding. 2. Monitor millions of transactions and accounts for anomalies, ensuring proactive fraud mitigation. 3. Support financial institutions with scalable, data-driven intelligence that ensures compliance and secures customer trust. Visit www.datasutram.com today to learn how our solutions are shaping tomorrow’s BFSI. Let’s build a safer, data-led financial future for the industry. #CyberSecuritySummit #FraudDetection #MuleAccounts #DataSutram #DigitalBanking #AIInFinance #FinancialSecurity Raajesh G Wadhwa, Dipayan Basu, Neha Nagar, Abhishek K., Siddharth Kakkad, Pratyush Chandramadhur