Overview

Every organization faces fraud risk, and the greater the access to cash (through internal systems, private sector loans and government assistance programs) – the higher the risk. Organizations are challenged to both discover and distinguish between willful misconduct and mistakes in order to take appropriate mitigation steps.

The Problem

Multi-layered approaches are required to combat the various forms of fraud, however, many organizations fail to uncover the motivation factors that drive internal fraud, as well as to catch and verify the serial fraudsters who drive external fraud.

The Solution

ClearForce discovers employees under significant financial stress that may be susceptible to steal or defraud their company or vulnerable to exploitation, and identifies sudden affluence requiring investigation. ClearForce also identifies and verifies criminal fraudsters seeking access to private and public loans and funding.

Challenges

33% of business bankruptcies caused by employee theft
61% of fraud and theft involved a manager or executive
84% of companies experienced fraud in the past 12 months

Benefits

Identification and verification of serial fraudsters
Systemic discovery of internal fraud risk
Identified verifiable criminal fraud in the SBA’s PPP loan program

User Persona

Riya

Job Role: General Counsel

Industry: Financial Services

Needs: Compliance for new internal fraud program

Situation

Riya’s fraud team is deploying a new internal fraud program that captures more data and analytics, but she wants to make sure they don’t create any compliance issues related to protecting privacy or introducing any disparate impact or bias.

Challenge

Riya has compliance requirements on both sides; while she needs to reduce the risk of internal fraud, she does not want to create new liability risk.

Solution

Riya’s recommended ClearForce deployment for her fraud team, so all data and analytics are centrally and securely administered with all appropriate legal guardrails and EEOC compliance.

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