apexportal® Fraud Detect
They are among us.
Advanced analytics and AI shut down payment fraud that is slipping past your normal controls.
Payment fraud is going undetected in your company...
Although most fraud is easy to detect with standard controls, billions of dollars are still being lost every year.¹ Why?
Sophisticated criminals use social engineering, synthetic fraud and knowledge of your internal controls to fly under the radar.
And the longer the fraud runs, the greater the financial impact and damage to your reputation. ²
According to ACFE:
2
years
The average fraud runs 2 years before being detected.¹
$1.7
million
The average loss per case is over $1.7 million.¹
Synthetic fraud
A new tactic that combines real supplier information with fraudulent details – like a criminal bank account – to bypass your controls.
apexportal®
Fraud Detect stops it
apexportal identifies fraud that would otherwise go undetected and blocks fraudulent payments before they go out the door. Then, it helps you build your case.
24/7
AI continuously analyzes
all your supplier profiles, transaction data, and signals from the apexanalytix global fraud monitoring community.
Alerts your team
to further investigate suspicious suppliers and provides the data required to catch the criminals.
Automatically blocks
fraudulent payments as soon as apexportal detects potential fraud.
1 ACFE, Report to the Nations: 2022 Global Study on Occupational Fraud and Abuse. 2 apexanalytix, Benchmarks of Procure-to-Pay Best Practices.
Detecting the undetectable.
apexportal continuously analyzes supplier attributes, transaction patterns, and multi-enterprise fraud activity across the apex global community of clients.
Composite fraud scores identify suspicious behavior.
Supplier Identity Flags
(selected examples)
Bank Ownership Ownership
Is this bank account legally owned by your supplier?
Employee Match
Does your supplier match an employee’s address or bank account?
Master Data Change Patterns
How recently was the bank account changed?
Tax Authority Check
Is this a real company? Are they still in business?
30+
fraud flags
Transaction Flags
(selected examples)
Benford’s Law
Do invoice amounts conflict with normal patterns?
Unusual Processing Activity
Has this invoice been keyed in at 2 AM on a holiday?
Escalating Invoice Amounts
Did invoice amounts jump after a few successful payments?
Consecutive Invoice Numbers
Are there consecutive invoice numbers? Are you their only client?
Supplier Identity Flags
(selected examples)
Transaction Flags
(selected examples)
Bank Ownership Ownership
Is this bank account legally owned by your supplier?
Employee Match
Does your supplier match an employee’s address or bank account?
Master Data Change Patterns
How recently was the bank account changed?
Tax Authority Check
Is this a real company? Are they still in business?
30+
fraud flags
Benford’s Law
Do invoice amounts conflict with normal patterns?
Unusual Processing Activity
Has this invoice been keyed in at 2 AM on a holiday?
Escalating Invoice Amounts
Did invoice amounts jump after a few successful payments?
Consecutive Invoice Numbers
Are there consecutive invoice numbers? Are you their only client?
High Risk Supplier
Composite Fraud Score
Partner with a Global Fraud Monitoring Community
Over 100 companies use apexportal to manage more than 8 million suppliers.
Receive alerts when any of your suppliers get flagged as suspicious (or fraud is confirmed) anywhere across the apex community.
1
summary composite score
Automatically detect and block suspicious suppliers and payments
Actionable alerts
30+
fraud flags
Global fraud monitoring community
Over 100 Global 2000 companies use apexportal to manage over 8 million suppliers.
Continuous fraud monitoring
Case management
employee- supplier collusion
Bi-directional integration
Highly configurable
Fraud Detect powered by apexportal®
Append and validate supplier information using
1,000+
trusted data sources
including tax ID, bank account ownership, prohibited lists, business status, diversity status, and insurance coverage.
