In this episode of India FinTech Diaries, we unpack one of the most urgent challenges facing digital finance today: fraud at scale. With cybercrime cases in India crossing 36 lakh in 2024 and losses exceeding ₹22,000 crore, fraud is no longer an edge case—it’s a systemic risk.

To decode how fraud has evolved and what institutions must do next, we speak with Venkat Srinivasan, Chief Analytics and Risk Officer at Bureau.

Venkat explains why modern fraud is no longer about fake documents or isolated bad actors. Instead, it’s coordinated, networked, and industrialized—powered by mule accounts, device spoofing, identity rotation, and real-time information sharing.

Key Highlights:

🕸️ Fraud has become organizedWhat once looked like individual theft now resembles syndicates operating across banks, fintechs, and marketplaces simultaneously.

🧩Siloed risk systems are breaking downKYC, fraud monitoring, AML, and device intelligence working in isolation miss the bigger picture. Unified risk decisioning is now essential.

📱 Devices are the new identity layerFrom fingerprinting to behavioral biometrics, the device has become a powerful signal—often more reliable than static identity documents.

🧠 Graph-based models are the futureBureau’s use of graph data structures helps uncover hidden networks and patterns that linear rules and traditional models simply cannot detect.

⚖️ Compliance is a guardrail, not a blockerVenkat makes a strong case for internalizing regulation as a design constraint that enables sustainable innovation, rather than treating it as a checkbox.

This episode is a must-listen for fintech founders, risk leaders, product teams, and policymakers grappling with the trade-offs between growth, friction, privacy, and trust.

• Website: https://bureau.id/