Fraud and Risk Analytics

Fraudulent activity causes huge problems for businesses all over the globe. Fraud can cause significant monetary losses and potentially irreversibly damage the company’s reputation. Because of this, many companies want to take action and stay ahead of the fraud risks. Fraud and risk analytics can help you identify fraud and fraud risk so that your organization can stay protected.

What Fraud And Risk Analytics Include

  • Fraud and risk analytics – use fraud and risk analysis to identify harmful activities that affect the future success of the business
  • Risk scoring
  • Falsified financial data determination
  • Fraud detection
  • Predictive fraud analytics
  • Anomaly analysis
  • Control weakness assessment

 

What You Can Do With Fraud And Risk Analytics

  • Fraud management – Identify fraud early and take appropriate measures to mitigate negative consequences
  • Identify why financial data has been falsified or manipulated and take immediate action
  • Identify risks and use this information to make detailed risk mitigation strategies
  • Managing social media risk
  • Use analytics to refine your fraud recovery process
  • Improve project and program management to mitigate the risk of fraud
  • Teach staff how to spot fraud by analyzing the data
  • Identify how much money is lost to fraudulent claims
  • Identify whether changes need to be made to your technology stack to help prevent fraud
  • Use predictive analytics to determine the likelihood that a claim is fraudulent. You can also use predictive analytics to make predictions about your future fraud incidence rate.
  • Use fraud and risk analytics to ensure you are meeting industry compliance standards
  • Control weaknesses – Identify where your control weaknesses are and what risk that poses to your business. For example, if you have a large amount of highly valuable and easily transportable stock (such as small tech devices), then you are at risk of theft.

Mitigate Your Fraud Risks With AI Superior

Organizations incur huge financial losses and experience significant hits to their reputation when fraud is allowed to happen. The best way to prevent fraud is to be proactive in your approach to fraud management. This means understanding the true state of fraud and risks within your business by analyzing the data. Get in touch with AI Superior to get on top of your fraud management