ThirdWatch Stopping Fraud Using AI

ThirdWatch is the first SaaS company in India to come up with an intelligent solution for dealing with fraud and abuses in e-commerce domain. With years of technological expertise and research on the kinds of fraud dealt with by the e-commerce sector, ThirdWatch has harnessed Artificial Intelligence (AI) technology to concoct the perfect solution for e-commerce fraud prevention- its AI engine ‘Mitra’.



Shashank Agarwal, Co-founder, ThirdWatch, says customer frauds can happen at two levels — return to origin (RTO) and abuse of promo codes. In the latter case, a consumer creates multiple user IDs to apply the code for ordering. In the case of RTO, customers abuse the refund policy. Most e-commerce players offer 30-day return and refund policy, where a consumer can get the refund within a few days.

Shashank Agarwal (28) has been a programmer since the age of 15 years. He has been working as an Ethical hacker for over a decade and at the age of 18, he started his first mobile application company. Currently, Shashank has a patent pending on Unistall tracking and hold tremendous skills and knowledge in technology innovations.



Mitra is an Artificial Intelligence system that integrates machine learning and predictive analytics to block e-commerce fraud with accuracy and in real time. It is an automatic machinery that easily distinguishes real transactions or orders from fraudulent ones. With its highly evolved capabilities, Mitra can detect and prevent a large number of e-commerce frauds such as Return-to-Origin (RTO) fraud (commonly known as order return fraud), chargeback fraud, payment fraud, merchant fraud, identity fraud, promo code abuse, friendly fraud, phishing, credit card fraud, and so on!

ThirdWatch’s system is designed to flag a transaction as genuine or fake within milliseconds of the order placed. Mitra is a fully automated engine that instantly flags a transaction by scrutinizing it through more than 200 benchmarks like the name, address, phone number, device, IP address, PIN code, locality, city, time zone and much more in less than 200 milliseconds.

The ingenious technology does not wait for the user to commit fraud or use static rules, instead, it goes through a large amount of data and assigns a device fingerprint to the users’ transactions. By evaluating the connection between different parameters and transactions, With 100 percent confidentiality in place, ThirdWatch never shares the identity or data collected from its clients. The high levels of data security standards, the data monitoring has no effect on the e-commerce seller’s website. Ensuring that fraud and anomaly detection takes place completely behind the scenes, ThirdWatch, in no way, affects the business activities of the client.

The biggest learning so far is that key to running a startup is to have a great product that you are confident in, and to continuously work towards improving it. You need to learn with experience and be always ready for the small hiccups and hurdles that a startup may face. Traction has been phenomenal since we launched about 6 months back. Our platform currently preventing frauds in 40+ e-commerce companies.

In near future we would expand to South East Asia and in long term we will expand into preventing other financial frauds including Insurance and fintech fraud. We got our first investment of Rs 450 cr IAN Fund. And the seed round was led by Rahul Agarwalla of the Indian Angel Network. Keshav Sanghi, former managing director of Goldman Sachs India and founder of investment firm VentureWorks India, and financial advisory firm Batlivala & Karani Securities also invested in this round. Funding amount is undisclosed. We will be raising series A funding in couple of months.


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