Products: Automated Fraud Detection Module (AFD™) v1.28

The AFD™ provides an organisation with the ability to perform its own fraud and risk profiling in one of its most vulnerable areas: the Purchasing and Procurement function.

Using tests based on real-life fraud investigations, the AFD™ uses information from three key internal data sources: suppliers, employees and invoice transactions, to perform a rigorous series of analyses which may be fine tuned at run time.

The AFD™ also identifies anomalous transactions and “odd” relationships by comparing the organisation’s data against specialist, external, data sources such as, accommodation addresses, financial details of factoring agents, and UK prisons. The system includes a risk scoring and weighting mechanism automatically highlighting those suppliers with the greatest potential exposure.

The AFD™ enables an organisation to implement a proactive, fraud-prevention strategy in accordance with the requirements of the US Sarbanes-Oxley Act and the best practices of UK corporate governance.

NB. Compliance with local data protection legislation is required before the personnel verification element of this solution can be implemented.

For more information on this product view pdf