How AI startup ThirdWatch is keeping an eye on and preventing online fraud through Mitra

Using advanced algorithms, Mitra captures over 200 parameters and flags every transaction as red or green in real time. According to global information services company Experian's Asia Pacific Fraud Insights Report – 2017, of the 10 countries analysed in Asia Pacific, Indian consumers are the most vulnerable to online frauds. The results were based on analysis of fraud trends, and 48 percent of Indian consumers have experienced fraud at the retail level, either directly or indirectly, the report said. The report also highlighted that frauds are on the rise in all segments of lending and the highest frauds are in consumer loans (2.2 percent), credit cards (0.8 percent) and personal loans (0.72 percent). Gurugram-based ThirdWatch aims to change this scenario.