FraudSeeker™: Our Unique Tool Pinpoints Vulnerabilities
Predictive analytics aid in fraud prevention
Is your organization being victimized by fraud? Reliable analytics are a great way to identify possible fraud. Businesses often struggle in this regard, because either their data collection is inadequate, or the information is not properly exploited. At Breon & Associates, we have developed a diagnostic tool we call FraudSeeker™, which employs predictive analytics to determine where fraud is likely to occur in your organization and who is likely to commit it. Armed with this information, you can take the decisive steps necessary to prevent or detect possible fraud issues.
Overcoming obstacles to effective fraud prevention within your organization
Traditional fraud prevention techniques are generally inadequate for a number of reasons:
- Sophisticated fraud schemes are too complex for many prevention rubrics
- Company information is stored in separate silos and not integrated to give an overall view
- Data is poorly structured and cannot be readily accessed
- Data analysis personnel are not adequately trained to pick up on fraud indicators
FraudSeeker™ counters these issues to maximize your efforts to root out fraud. One key to our process is to access data from your company’s separate silos and use the information synergistically. For example, over the course of our practice, we have found a consistent correlation between employee noncompliance with HR requirements and their commission of fraud against an organization. Yet, companies rarely access HR data when investigating fraud.
We also have a deep understanding of fraud mechanisms. We’ve incorporated reverse-engineering of fraud into our FraudSeeker™ analysis. Thus, our fraud risk assessment matches the mechanics of frequently used schemes against your company’s operational data. As a result, we’re able to detect the activity of sophisticated fraud activity that escapes the notice of most fraud prevention systems.
Building a comprehensive barrier to fraud
Our FraudSeeker™ tool leverages data-point correlations throughout your organization to provide up-to-the-minute analysis of your fraud risk. Furthermore, FraudSeeker™ goes beyond analytics to identify, prevent and investigate possible fraud. With our FraudSeeker™ tool, Breon & Associates can provide:
- Training on fraud awareness, prevention and detection — We’re often surprised (okay, not really; we’ve been at this a long time) at how many executives fail to comprehend the range of potential, fraudulent activity and the damage it could do to their company. Too many execs have an emotional bias against even considering the possibility they’re being victimized by fraudsters. Therefore, a FraudSeeker™ report often serves as the basis for a necessary discussion within your organization. Our results help establish a baseline understanding of the risk of fraud to your company. We can then train your employees to fight fraud so you gain ongoing protection.
- Fraud consulting and monitoring services — Regular use of FraudSeeker™ can help you monitor data and maintain vigilance against fraud. Breon & Associates can also follow up with assistance on an internal audit.
- Investigations – If your FraudSeeker™ report identifies anomalies that indicate the likelihood of fraud, we can assist your auditors and/or legal department or take the lead in the fraud investigation.
If you’re like most companies we’ve assisted, the benefits of FraudSeeker™ will far outweigh your investment. Time after time, FraudSeeker™ has proven to be an essential tool for organizations looking to mitigate risk stemming from fraud.
Contact Breon & Associates in Harrisburg to learn more about FraudSeeker
FraudSeeker™ is a cutting-edge diagnostic tool that can help your company identify fraud and hold wrongdoers accountable. With offices in Harrisburg and North Central PA, Breon & Associates provides business, accounting and tax services throughout Pennsylvania. Call us at 1-888-516-8476 or 717-273-8626, or contact one of our offices online to schedule an appointment.
415 Market Street, Suite #205
Harrisburg, PA 17101
Camp Hill Office:
3461 Market Street, Ste 101
Camp Hill, PA 17011
901 Dawn Avenue, Suite A
Ephrata, PA 17522
4 Park Plaza, Lower Level
Wyomissing, PA 19610