Fraud & Risk Monitoring
Root out suspicious vendors and transactions.
Detect Fraud and manage risk with firststrike® Fraud Detect
- Provides continuous, proactive fraud monitoring across multiple systems and data formats.
- Leverages innovative cognitive technologies, including machine learning, robotics, and IBM Watson®.
- Quickly combs through tens of thousands of invoices looking for suspicious patterns – protecting you before a single payment is disbursed.
- Includes ready-to-use reports that can be easily configured to your specifications.
- Produces a clear, actionable analysis, in an easy-to-use workbench, prioritized by risk scores.
- Automatically sources global lists of prohibited vendors (OFAC and others).
- Produces detailed vendor profiles.
- Identifies overlapping employee-vendor relationships.
- Fake business entities
- Billing scams
- Conflicts of interest
- Employee-supplier collusion
- Regulatory compliance issues and policy violations
- Prohibited entities (vendors sanctioned by OFAC and others)
- Vendor agreement violations
- Vendor risks and anomalies
THE PAYMENT FRAUD REPORT
New Defenses Against Sophisticated P2P Fraud
Payment fraud is becoming more and more sophisticated every day. Read real-world fraud stories and learn how to prevent them all.
apexanalytix Vendor Risk Analysis Service
Certified fraud examiners identify your highest risk suppliers
In addition to licensing our firststrike Fraud Detect software, apexanalytix offers a Vendor Risk Analysis Service delivered by our team of certified fraud examiners (CFEs) and forensic auditors. We begin with a comprehensive data analysis using firststrike Fraud Detect, but then take a deep dive into other potential risks within your vendor community. We uncover conflicts of interest, lapsed business licenses, liability concerns and much, much more. A detailed assessment report gives you a roadmap for remediation and improved controls – including detailed vendor risk profiles and employee-vendor risk matching.
With firststrike, the choice is yours
In addition to Fraud Detect, we offer other modules with the procure-to-pay controls and analytics you need to support your operations.