Products: Corporate Procurement Card Profiler (CPCP™) v1.0

Corporate procurement cards are increasingly being used to facilitate the purchase of low-value, ad hoc items without the extended procurement process. Card providers protect the organisation from external frauds such as “cloning” and “skimming” but fail to recognise or report deliberate abuse by the authorised cardholder.

The CPCP™ is designed to provide a cost-effective mechanism for identifying transactions by authorised cardholders who deliberately attempt to by-pass internal controls. For example, a cardholder colluding with a store to split a £5,000 purchase over five days, each with a single £1,000 transaction. Other forms of corporate procurement card abuse include two or more authorised cardholders splitting a single purchase over several different cards. Standard reports include:

• Several different levels of duplicate transaction detection;
• The identification of sequential transactions to highlight split purchases;
• Summary management information to enable senior managers to quickly and easily identify unusual purchasing patterns; and
• The failure of the card issuing companies to adequately implement “blocked merchant categories”, and hence allow purchases by the cardholder of items not sanctioned by the organisation. For example, the use of a procurement card to access pornographic internet sites.

For more information on this product view pdf