Fraud Detection & Risk Assessment

Highly publicized incidents of fraud involving major organizations and industry giants have created the need today for fraud risk assessments focused on fraud detection and prevention in organizations. Business today is conducted electronically the world over and organizational information assets are connected to networks where information is stored, processed, and transmitted. The highly convenient IT infrastructure that enables efficient business transactions today makes the task of fraud detection a challenging one.

The key to a fraud-free environment is an effective Anti-Fraud Program. As part of this program, Enterprise Risk Management’s fraud detection and prevention experts help client organizations to instate fraud detection and prevention policies, and conduct fraud risk assessments. Enterprise Risk Management’s experts tailor and customize each fraud risk assessment to ensure that it is commensurate with the size and complexity of the client organization. The fraud risk assessment will identify your organization’s vulnerability to fraudulent activity, analyze the potential risks and impacts based on these vulnerabilities, and devise countermeasures to ensure that fraud risks are prioritized and addressed. Once the fraud risk assessment is complete, a comprehensive Anti-Fraud Program is then developed by taking into consideration all the various possibilities of fraud.

Just like business, fraud too can be done today at the click of a mouse which makes fraud risk assessments so valuable. That is exactly why fraud detection and prevention is a non-trivial task. Enterprise Risk Management’s fraud detection and prevention team consists of financial domain experts as well as subject matter experts in technology and forensics to bring together the precise knowledge required to tackle the complex problem of fraud.