The Movie – Catch Me If You Can is inspired by a true story about a con artist Frank Abagnale Jr. who uses identity impersonation, fake cheques, and lies to banks to get a lot of money! He was always on the run from the police and pretended to be a lawyer, doctor, and pilot, among many other fake professions.

It wasn’t easy to duplicate cheques and fool the bank with different professions but Frank Jr. mastered the art! Of course, the authorities managed to catch him, eventually, but he was so good that the FBI hired him later. Anyone would want someone like him on the team. 

Can you imagine how much money Frank Abagnale Jr. made using fake cheques? He claimed he made over $2.5 Mn by forging fraudulent cheques. By age 21, he had cashed over 17,000 bad cheques across 26 countries!

Modern-Day “Catch Me If You Can”

If Frank Abagnale Jr. tried to commit fraud today with the same skills, he would cost banks a lot of money, and let’s face it; with digital payments in the picture, you don’t have to be Frank to commit fraud. With money being increasingly used via digital means and the ecosystem still evolving, it is rather easy to not just commit them but also fall victim to fraud(s).

All you need is a bit of hacking skills and a bunch of identities. With several fintech startups on the rise and the process of onboarding customers through a complete digital journey, it is much easier to forge an identity. The partial KYC that a lot of financial institutions use to onboard customers quickly can end up leading to accelerating fraud as you can transact without giving all your information up to a set limit. Having said that, this read is not a guide on how to be the next Frank Abagnale Jr. instead it is us helping you to catch one! 

Enter, DS Authenticate  – “People only know what you tell them”

DS Authenticate, Data Sutram’s proprietary tech is carefully designed to help banks and financial institutions identify fraudulent customers. 

Our solution gives you intel on 1 Bn consumers from over 250+ data sources across 19,000 pin codes! With minimum input like name, phone number, and PAN of the customer, we help banks and NBFCs generate maximum output parameters across phone confidence, email vintage, income estimation, digital maturity, alternate phone, etc. This gives you a 360-degree view of the customer and helps in identifying potential fraudulent customers during onboarding.

Leading banks and NBFCs leverage our tech to develop attributes based on intent, capacity, and stability, build proprietary risk models and contingency plans, and generate comprehensive Trust Scores to validate consumers.

DS Authenticate will help you:

• Inspect flags around identity
• Identify negative digital footprints  
• Detect mule accounts

With us, safeguarding from fraud becomes less painful!

If DS Authenticate existed during Frank Abagnale Jr’s glory days, we’d have never witnessed an entertaining movie! You can however rejoice DS Authenticate’s existence, in the present day, given how it can help you identify fraudulent customers right from their onboarding. Also, the sequel we envision to “Catch Me If You Can” is “Got You, Because We Can! ;)” Want to Explore DS Authenticate in depth? Book a demo with us at demo@datasutram.com.