The Fraud Resilience Framework, developed by Algoritha, is a state-of-the-art Fraud Risk Management (FRM) framework designed to counter digital frauds, cybercrimes, money laundering, tax evasion, identity theft, financial statement frauds, misappropriation of assets, bribery, and foreign corrupt practices. Anchored by a dedicated Fraud Operation Centre (FOC), the framework integrates Fraud Intelligence and Event Management (FIEM) and Digital Fraud Investigation and Response (DFIR) teams, aligning with the NIST Cybersecurity Framework (Identify, Protect, Detect, Respond, Recover) and the COSO Internal Control Framework.
It ensures compliance with Indian regulations like the Reserve Bank of India (RBI) Fraud Management Directives, ICAI Guidelines, FIU-IND, Companies Act, 2013, Digital Personal Data Protection Act (DPDP), 2023, Bharatiya Nyaya Sanhita (BNS), 2023, and Bharatiya Nagarik Suraksha Sanhita (BNSS), 2023, as well as global standards like Sarbanes-Oxley Act (SOX), GDPR, FATF, FCPA, and Interpol guidelines.
By leveraging AI analytics, financial forensics, dark web monitoring, Fraud Examiners, law enforcement collaboration, cyber forensic labs, and fraud investigation best practices, this scalable framework empowers banks, NBFCs, and corporates to build fraud-resilient operations.
- Identify
This phase focuses on mapping threats and vulnerabilities:
- Risk Assessment using fraud triangle and fraud tree to flag manipulation in KYC, tax evasion, revenue inflation, and bribery.
- Asset & Data Mapping to detect piracy and data theft.
- Threat Intelligence via RBI, FIU-IND, Interpol, FATF, and dark web.
- Regulatory Compliance aligned with ICAI SA 240, Companies Act, GDPR, SOX, and FCPA.
- Police & LEA Collaboration integrating state police, CBI, SFIO, and ED as per BNS/BNSS.
- Protect
This phase implements proactive controls:
- Zero Trust Access Controls to prevent insider threats and identity theft.
- FIEM System to detect high-value fraud in real-time using AI.
- Document Forensics to catch KYC and signature forgeries.
- Anti-Bribery Measures aligned with FCPA and COSO.
- Tech Infrastructure using Splunk, Tableau, blockchain analytics.
- Training & Awareness for staff and LEAs on fraud typologies and red flags.
- Cross-Border Cooperation through Interpol and MLATs.
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- Detect
This phase ensures quick fraud recognition:
- Real-Time Monitoring of abnormal behaviors, phishing, dark web data sales.
- Data Analytics on structured and unstructured inputs to detect laundering and shell firms.
- Certified Fraud Examiners review flagged cases.
- Covert Ops & Surveillance with ED, SFIO, and cyber labs.
- Tools like Wireshark, Chainalysis, Darktrace improve forensic detection.
- Early Alerts sent to RBI, CRILC, and FIU-IND within 72 hours.
- Respond
This phase enables investigation and enforcement:
- Incident Response using EnCase, Cellebrite, and FTK for cyber-FIRs and compliance with DPDP and GDPR.
- Financial Forensics & Audits for tax evasion and fund tracing.
- Legal Support under SOX 302, FCPA, Companies Act, BNS.
- Best Practices from ACFE ensure evidence integrity and admissibility.
- Recovery Coordination with NCLT and ED.
- Court Trials supported with digital chain of custody.
- LEA Training & Tools to boost investigative success.
- Recover
This phase ensures business continuity and restoration:
- Data Recovery post ransomware and breaches.
- Customer Compensation per RBI’s Limited Liability framework.
- System Hardening through attack simulations and infrastructure upgrades.
- Regulatory Reporting to RBI, FIU-IND, SOX, NCLT, FATF.
- Knowledge Sharing with FATF APG, Interpol, I4C.
- Post-Incident Training for internal teams and partners.
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Fraud Operation Centre (FOC)
The central command integrating:
- FIEM for real-time analytics, Splunk, Darktrace-based alerts.
- DFIR for forensic response, EnCase, Chainalysis, Resecurity, Belkasoft, BlockchainSecurity, eDetector, Binalyze and Magnet AXIOM tools.
- Cyber Lab Integration with I4C and Police Cells.
- Training Programs for police, corporates, and auditors.
Integration with Legal and Regulatory Frameworks
The framework complies with:
- RBI’s Early Warning Systems, fraud registry, and whistleblower norms.
- ICAI’s SA 240, forensic audit, and fraud reporting standards.
- FIU-IND and PMLA for STR filing and AML.
- Companies Act and NCLT for insolvency and fraud.
- DPDP Act and GDPR for data security and privacy.
- IT Act, BNS, BNSS for cybercrime and procedural enforcement.
- SOX and FCPA for financial disclosure and anti-bribery norms.
- FATF and Interpol for global AML/CFT collaboration.
- Dark Web Monitoring to uncover illicit markets and breaches.
Unique Features
- AI-powered FIEM & DFIR
- Modus Operandi Database for UPI scams, bribery, and laundering
- Certified Fraud Examiners for compliance with ACFE standards
- Forensic Tool Stack: Splunk, Chainalysis, Wireshark, Magnet AXIOM, Resecurity, Belkasoft, BlockchainSecurity, eDetector, Binalyze
- Scalability with Cyber Swachhta Kendra
- Global Regulatory Sync: ISO 27001, SOX, GDPR, FCPA
- Training and Awareness Modules
- Law Enforcement Integration
- Asset Recovery Tools and Legal Escalation Support
Algoritha’s Fraud Resilience Framework is a cutting-edge, holistic approach to fraud risk management, built on trusted international and domestic standards. Anchored by its Fraud Operation Centre, the framework’s FIEM, DFIR, and Fraud Examiner teams use powerful tools and legal alignment to detect, prevent, respond to, and recover from fraud—offering unparalleled protection to institutions navigating complex financial and regulatory landscapes in the digital age.