Fraud and corruption in business continue to evolve rapidly, becoming more sophisticated and widespread. According to the ACFE, organizations lose approximately 5% of their annual revenue to fraud, representing over $5 trillion globally. Fraudulent schemes are becoming increasingly complex, often bypassing traditional detection methods. To combat this sophistication, organizations must implement effective fraud prevention tools that provide continuous monitoring and vigilance over their operations.
This is where solutions like Eye2Scan & Infolegale provide a systematic and structured approach to address these complex fraud detection and prevention challenges.
An effective fraud prevention strategy requires dual vigilance: internal monitoring through robust controls, and external assessment through systematic third-party risk evaluation. This two-pronged approach covers all potential risk vectors that could impact your organization.
Eye2Scan specializes in automated internal transaction monitoring. By integrating directly with ERP systems and business applications, the platform continuously analyzes accounting and operational transactions to instantly detect anomalies and internal fraud patterns. This approach automates the identification of suspicious or abnormal operations, including, for example, unauthorized payments and irregular accounting entries.
Infolegale handles comprehensive external third-party risk assessment, proactively identifying entities that may present fraud risk. This capability provides a rigorous methodology to assess risk levels of suppliers, partners, and intermediaries.
Combining these two approaches significantly enhances your overall fraud detection effectiveness, enabling identification of complex fraud schemes that would escape fragmented monitoring approaches.
Integrating Infolegale risk scores (fraud, solvency) with Eye2Scan's automated controls dramatically improves alert accuracy. This combined approach provides contextual data enrichment that opens new analytical possibilities. For example, an Eye2Scan alert for accounting entries at unusual hours becomes significantly more meaningful when it involves a third party flagged as high-risk by Infolegale.
In procurement process controls (P2P), Infolegale scores automatically trigger enhanced controls when high-risk suppliers appear in orders or invoices. This includes automatic bank detail verification, cross-analysis with unusual cumulative purchase thresholds, and mandatory additional documentation before payment approval.
Sophisticated fraud schemes often remain invisible when data analysis stays fragmented. Combining external third-party assessment with automated internal analysis reveals fraudulent patterns that were previously difficult to identify.
Consider this scenario: Eye2Scan identifies recurring payments to a recently onboarded supplier, with amounts consistently below approval thresholds. Meanwhile, Infolegale data reveals this supplier recently changed beneficial ownership and shows financial instability indicators. This combination of warning signals (payment splitting + ownership change + financial weakness) creates a compelling case for investigation. While not necessarily fraudulent, it presents enough red flags to justify thorough verification.
This technology alliance fundamentally transforms risk management approach. Instead of conducting systematic, time-consuming controls, teams can focus their efforts on highly critical areas.
Here's a practical example: An international company with multiple subsidiaries sees Eye2Scan detect urgent payments processed without proper validation in one location. The involved third parties don't exist in the approved supplier database. Simultaneously, Infolegale identifies these entities as recently created and sharing management with a company involved in a public corruption case. This combined alert not only identifies active fraud risk in one subsidiary but also triggers a targeted group-wide audit.
In Purchase-to-Pay (P2P) and Order-to-Cash (O2C) processes, the combined technologies create intelligent third-party classification systems - dynamic whitelists and blacklists that adapt based on external signals and internal behavior patterns. This smart filtering approach helps organizations prioritize controls on high-risk transactions while enabling smooth processing of legitimate operations, optimizing efficiency while strengthening security.
This technology partnership delivers next-generation occupational fraud detection metrics. Organizations can track the percentage of at-risk suppliers or customers, assess revenue exposure to these risks, and measure fraud prevention program effectiveness through visual analytics. Risk indicators identified by Eye2Scan and Infolegale directly feed into GRC (Governance, Risk and Compliance) tools and enhance enterprise risk mapping, providing a 360° risk-based control approach. These dashboards give clear visibility into exposure areas and trends, supporting strategic decision-making and aligning the different departments (internal audit, internal control, compliance and risk).
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By combining automated internal monitoring with comprehensive third-party assessment, organizations can substantially reduce fraud exposure. This integrated methodology goes beyond detection - it becomes a powerful tool for anticipation and proactive response.
For internal audit and internal control professionals, this combined approach represents a major advancement. It optimizes resource allocation by targeting highest-risk areas while sustainably securing operations and strengthening overall anti-fraud and anti-corruption effectiveness.