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FRAUD PREVENTION SOLUTIONS

In business some frauds arise because of a system weakness, such as a lack of proper control over placing of purchase orders. Other frauds are the result of failures to follow proper control procedures. It may be carelessness in carrying out a check. It may be that too much trust has been placed in one individual with no effective separation of duties. Frauds which result from collusion may be more difficult to prevent. A computer can be instrumental in the perpetration of the fraud because of the absence of human review of transactions. The lack of human involvement may allow transactions to be processed which would have been queried in a manual system.

An organisation can therefore be exposed to the risk of fraud in a number of different ways. For the purpose of this guide we can divide fraud into three categories:

Internal fraud:
This is fraud perpetrated by individuals inside the organisation and is most often carried out by staff who have access to liquid or moveable assets, such as cash or stocks. It is likely that the risk of fraud and its scale will increase if the member of staff is able to conceal the irregularities by also having access to accounting records. It may be opportunistic, though it may also be planned and committed over a long period.

External fraud:
This is fraud which is perpetrated by individuals outside the organisation and covers activities such as theft, deception and computer hacking. It is very often committed as a result of inadequate safeguards.

 

Our fraud prevention solution, provides unprecedented agility to respond quickly to the changing modus operandi of fraudulent attacks.

We offer fraud prevention solution that monitors a variety of products and channels in both the payment and card processing services as well as in the Financial and insurance business.

 

in addition, Fraud prevention solution enables the creation of security rules based on establishment international standard, including PCI-DSS, Sarbanes Oxley (SOX), SAS -70, IEEE P1074 and HIPAA

We partner with OEMs that provides application security solutions including

  • Fortinet

  • McAfee

  • Symantec

 

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