In the average organisation, fraud accounts for around 5% of revenue loss and effective data analysis is critical to identifying this. Blackhawk can offer sophisticated data analysis and fraud detection services to help counter these threats.
More often than not, fraud is only spotted once the fraud has been committed. In fact around 50% of fraud is only found by accident.
The Devil Is In The Detail
Or so they say . . . but where fraud is concerned, especially in more complex businesses, the key to detecting it can lie deep in the complex mix of data that represents your company’s operations. Getting at this data and more importantly, understanding it, requires quite sophisticated data mining and data analysis capabilities.
Businesses are becoming more complex, with sales channels and customer and supplier communication channels diversifying. Detecting a fraud manually is increasingly difficult. Behaviour monitoring, network analysis, pattern recognition and profiling are tools many companies have used to spot fraud, but fraudsters are becoming more technologically advanced too.
At Blackhawk Intelligence, not only can our accounting forensics specialists assess if your organisation would benefit from the use of more advanced ‘big data’ analysis tools, they can also assist in fraud detection through:
- Forensic data analysis of tailored exception reports
- Inspecting and reporting on suspicious transactions
We will also provide feedback and recommendations for changes in procedures, controls and exception reports.
To help your organisation keep one step ahead of the fraudsters, call one of our accounting forensics specialists today.