New Delhi: Startup India, DPIIT, and Perfios have announced the Financial Fraud Fighter challenge as part of the Bharat Startup Grand Challenge 2025, inviting startups and innovators to create cutting-edge solutions that can identify and prevent fraud in the BFSI sector before it occurs.
The Financial Fraud Fighter program seeks to address the growing threat of frauds plaguing the banking, financial services, and insurance ecosystem. Fraudsters are increasingly targeting institutions and individuals, creating significant risks across digital and traditional financial systems.
The challenge aims to harness innovative technologies that can proactively detect and prevent fraudulent activities, strengthening the resilience of the financial ecosystem.
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Incentives for Winners of Financial Fraud Fighter Challenge
The Financial Fraud Fighter challenge offers multiple benefits for participating startups:
- 1st Prize: ₹10 lakhs
- 2nd Prize: ₹5 lakhs
- Opportunity to partner with Perfios and leverage its BFSI industry network
- Potential for strategic investment opportunities
- Showcase of solutions at major events sponsored by Perfios
Key Themes and Problem Statements
Startups applying for the Financial Fraud Fighter challenge are encouraged to develop solutions in the following areas:
- Deepfake detection
- SIM swap detection
- Mule account detection
- Behavioral analytics for fraud prevention
- Biometric-based fraud tracking
- Other AI/ML-driven fraud prevention tools
The primary objective is to build solutions that can weed out different types of fraud from the BFSI ecosystem, ensuring security for institutions and consumers alike.
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Eligibility Criteria
The Financial Fraud Fighter challenge is open to all stages of startups, including ideation, validation, early traction, and scaling stage, provided they are registered with DPIIT or comply with eligibility norms.
Individual innovators, academicians, and entrepreneurs can also apply, with incorporation requirements applicable for selected participants.
Financial Fraud Fighter: Challenge Timeline
- Applications Open: 18th August 2025
- Application Deadline: 15th September 2025
- Finalists Announcement: 1st October 2025
- Final Presentations: 15th December 2025
- Winner Announcement: 19th December 2025
The challenge will be conducted in two phases—an initial proposal submission round followed by a final MVP presentation before an expert panel.
For queries, participants can reach out to Perfios Software Solutions at: abhishek.agarwal@perfios.com
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