HR Department is also susceptible to Fraud
The human resources department probably helps your organization combat fraud. However, just like in most organizations, HR is also vulnerable to fraud.
According to a recent study, businesses lose their revenue to fraud each year with an average loss of $1.5 million per case.
Experts estimate that cases from around the globe would total $4.5 trillion in losses to fraud annually.
Typically, fraud cases last eight long months before they are detected, while others even last up to two years before being uncovered. This is where Aquila solutions can help detecting fraud using AI and ML and other latest technologies.
What can Aquila do to Help Detect and Prevent HR Fraud?
Aquila fraud detection and prevention solution empowers your team to fight fraud using
AI, machine learning, and big data technologies. It uses a tried and proven method that can help you save millions:
Explore your business needs and develop an effective strategy and roadmap to deal with challenges.
Engage with your staff to conduct proof-of-concept to validate value and requirements.
Execute the plan by implementing Aquila to spot fraudsters and detect any irregularities.
How Aquila Can Help Detect Fraud
Aquila complements your growth strategy by making sure revenue leaks and other risks are minimized so you can maximize your brand’s potential.
The platform also uses fraud indicators to make sense of the information available to it. It complements your existing team that safeguards your business from fraud by narrowing down the scope of the investigation.
Our Goal is to make your organization free from fraud.
Your business could be dealing with the following:
- Payroll fraud
- Procurement & Expense fraud
- Ghost employee scheme
- Misuse of company assets
- Theft of personally identifiable information