According to a survey conducted in early 2019 by Euler Hermes and the DFCG among more than 300 companies, 70% of them experienced an attempted fraud in 2018. Identical to the previous year, this figure must be correlated with the frequency of attacks, which is skyrocketing: the number of companies that experienced at least 10 attempted frauds in 2018 doubled compared to 2017.
Furthermore, the damage is increasingly significant: 13% of the companies attacked reported damages exceeding €100k.
While supplier fraud remains the most frequently used (suffered by 47% of respondents in 2018), other types of impersonation are increasingly used and now rank in the top 5 of frauds: fake president, fake bank, fake lawyer, fake auditor, fake client.
It therefore becomes critical to protect one's data and the company's information system.
NEOFI Anti-Fraud can easily help you by hot scanning your suppliers' bank details and transaction amounts; the unexpected, duplicate, accidental or overvalued one-off transfer is then immediately revealed in the payment campaign validation workflow.
Despite growing awareness of the threat of this type of fraud (78% of respondents fear an increase in the phenomenon), few companies are taking the necessary steps to protect themselves properly: nearly 60% allocated no budget in 2019 to the fight against fraud and more than half rely on humans to thwart attempts (a time-consuming and fallible process).
Combining automation and human intervention is the challenge posed by NEOFI Anti-Fraud, which lets you decide, based on your defined rules, which payments are considered fraudulent, acceptable, or subject to investigation. Non-intrusive, NEOFI Anti-Fraud integrates seamlessly into your information system and alerts you in real time to the status of your payments and potential fraud.
