Anti-Fraud Management

An Anti-Fraud solution for effectively managing the anti-fraud lifecycle.

Fraudulent activity is on the increase due to the current economic crisis and trends indicate it will continue to affect the international financial sector in the coming years. The impact of fraudulent activity can cause serious operational, reputational and legal issues to a financial institution. Areas such as credit cards, transactions over the Internet and insurance claims are some examples affected on a daily basis by fraud attacks originating from inside the organization or from external sources. In both cases, fraudsters exploit possible flaws of the audit organization and utilize the latest technology, while they continuously invent new methods and techniques to evade established detection mechanisms. It is therefore necessary to continuously evaluate and develop the processes established to prevent and tackle fraudulent activity, focusing on the entire lifecycle management of fraud, namely the deterrence, prevention, detection, mitigation, analysis, policy, investigation and ultimately prosecution stages.

Relational is well established since many years in the financial sector and actively supports the efforts of its customers to combat fraud. Relational has both the experience and know-how as well as the technical competence required to effectively manage the anti-fraud lifecycle. The technology we have at our disposal has reached an impressive maturity state and is capable of processing large amounts of data from both structured and unstructured sources of information, in real time or batch mode and at a speed unimaginable a few decades ago. If we add to this the “social network” analysis capabilities, the results can be very impressive, especially for financial institutions under attack from organized fraud rings. Relational provides anti-fraud technology and consultancy services effectively assisting financial institutions in their efforts against fraud, preventing negative publicity and erosion of customer and shareholder relationships.