Corporate fraud cases represent one of the biggest threats companies face in today’s ever-evolving landscape. Fraud cases can cost companies hundreds of thousands of dollars, depending on their size and industry. According to ACFE, a typical fraud case costs $8,300 per month and lasts 12 months before detection.
Unfortunately, a large number of companies aren’t equipped to deal with the threat of fraud, particularly as the digital landscape continues to evolve. Sophisticated tools and complex criminal activities can make it harder to identify the source of an issue, and ensure a quick resolution.
To protect an organisation’s finance, security and reputation, companies need to ensure they’re investing in the right tools to accelerate and improve fraud investigations.
Using Forensic Technology to Detect and Battle Fraud
Endpoint monitoring, digital forensics and case management tools are crucial to forming an end-to-end strategy for the fight against fraud. These tools leverage over-the-network monitoring capabilities, forensic imaging, AI-driven analysis and link building, and automated investigation management tools to detect instances of fraud, identify the source of the issue, and help companies to seek justice faster.
While in the past, accessing all of the right technology for fraud investigations was a complex, time-consuming and expensive process, companies like Detego have made it easier for corporate investigators to access all the tools they need in one package. Detego’s end-to-end solutions are designed to help rapidly identify and extract relevant data, analyse essential information, and present court-ready reports. The process involves four main pillars:
- Identify: Detego’s automated endpoint monitoring and triage technology identifies devices containing data relevant to investigations without running extensive extraction and analytical processes. These tools monitor files, keywords, regular expressions and user actions to identify unusual behaviour while advanced hash matching technology is used to rapidly identify files linked to fraudulent activity.
- Extract: Once files of interest are identified, Detego’s acclaimed Digital Forensics tools enable investigators to easily bypass passwords and gather data from 1,000s of devices including mobile phones, laptops, servers, loose media and smart devices. Patented tools such as Ballistic Imager forensically secures any form of data from computers, laptops and servers up to 4 times faster than the industry average – collecting up to 1TB in less than 8 minutes. Detego Media Acquisition fast-tracks investigations by simultaneously securing and analysing data from removable devices while providing live previews of the data being captured, and Detego MD collects forensically sound data from over 15,000 mobile phones, 2,000 apps, drones and smart devices.
- Analyse: With Detego Analyse, investigators can rapidly analyse the information collected for fraud cases and produce digital evidence in a manner that’s accepted by courts. Detego Fusion helps build detailed intelligence on cases while exposing valuable connections between devices, people and investigations.
- Report: Investigators can then leverage Detego Analyse to prepare and present their cases to judges in a court-ready format.
With Detego’s intuitive, automated Case Management solution, teams can create custom investigation workflows based on company policies and automate the creation and escalation of cases.
Investigators can access, manage and update cases from any internet-enabled device, and managers can easily monitor the progress of investigations while on the move.
With detailed performance metrics that include the total time taken per case, percentage of cases closed and daily workloads, and analytics that highlight the financial and reputational cost of each case, the solution makes it easier for teams to prioritise investigations based on their level of impact.
Addressing the Issue of Corporate Fraud
Already, companies around the world have begun to discover the benefits of Detego’s Unified Investigations Platform.
One Detego customer, one of the largest banks in Africa with over 12,000 agents and 200 branches, leveraged Detego to address the consistent threat of fraud, data breaches and money laundering faced by the team. Detego was able to deliver a multitude of unique benefits to the bank, with an intuitive design, easy deployment, and advanced capabilities ready for use by even the least experienced team members in the group.
Detego’s tools help companies and financial institutions alike to unlock a new level of productivity and efficiency when it comes to forensically extracting and analysing data from a range of devices. The bank was able to not only access a solution for taking fraud cases to court, but also implement tools for pre-empting data breaches and instances of fraud.
Elsewhere, an ecommerce company with more than 50,000 employees in the UK division alone, leveraged Detego to overcome the complexity typically involved in monitoring threats and fighting fraud. Detego Case Manager was chosen by the customer due to its advanced automation functions and user-friendliness, as well as the ability to create unique custom workflows.
Detego Case Manager technology provided the customer’s investigation team with a cloud-based environment for creating, assigning and managing cases collaboratively. The easy-to-use environment helped the teams to significantly reduce investigation times, and achieve better visibility for ongoing cases. Case turnaround times were reduced by a massive 37%, and in some instances, teams were able to resolve cases up to 3 times faster!
Fighting Back Against Corporate Fraud
With more than 20 years of experience empowering investigators in more than 70 countries, Detego has proven the impact of its technology for a host of powerful brands from industries ranging from financial services and retail to information technology and logistics.
Detego’s end-to-end approach to battling Corporate Fraud helps investigators to protect their companies, and deliver the best possible tools for justice when instances of fraud are detected.
Get a first-hand experience of Detego’s cutting-edge technology, request a free, fully-functional trial here: http://detegoglobal.com/trial
