Fraud comes in many forms. It can
originate internally or externally. It can involve employees,
customers, third-party brokers and organized fraud rings. Industry
reports and FBI analysis indicate that fraud is pervasive and
growing.
As your transaction volume increases, it becomes more and more
difficult to monitor. You must look for rogue trading, demand
drafts, forged documents, stolen identity, check kiting, falsified
loan applications and a myriad of accounting fraud schemes. Each
new transaction puts your reputation and your bottom line more at
risk.
The return on investment for each
dollar spent on real-time fraud prevention is many times greater
than loss mitigation. When you prevent fraud, you reduce your
losses by 100%. Post-fraud loss mitigation yields 10-20% at best.
The savings in reputational damage, however, are
immeasurable.
Wiz Sentri: Anti-Fraud prevents fraud by examining all activity in
real time for telltale signs of fraud. You can preset rules to look
for specific activities, automatically stop transactions, refuse
checks, decline loan applications or simply flag transactions for
further investigation. Wiz Sentri: Anti-Fraud then records and
stores activity data to facilitate investigation, case management
and loss mitigation.
Whether you're concerned about internal, transactional or mortgage
fraud, Wiz Sentri: Anti-Fraud can be configured to fit your
institution's needs and resources.
For more information, call 0800 840 1160 or email UKsales@wolterskluwer.com.