Fraud in the Manufacturing Sector
Following possible fraud in manufacturing Sector are :
False warranty claims
Procurement, vendor, or supplier fraud
The same report revealed that 40% of manufacturing fraud is discovered through tips, mostly from employees. Manufacturers also unearth fraud through tips from customers or suppliers, internal audits, or management reviews.
Fraud detection and prevention solutions can augment the efforts of manufacturers in battling fraud and preventing losses.
Act Quickly Against Manufacturing Fraud Using Aquila
Aquila serves as your eagle eyes in your fight against fraud business loss.
No business is immune to fraud – so you need to use the best tools available to enhance your protection and reduce the chances of loss. Manufacturing is vulnerable to fraud because of the volume of transactions, materials, and products.
The Benefits of Using Aquila Fraud Detection Solutions
Aside from having mechanisms to lower the risk of falling victim to fraud, artificial intelligence (AI) and machine learning (ML) are now essential tools in the war against fraud. Aquila leverages fraud detection AI/ML and the best technologies today to pinpoint anomalous transactions in your manufacturing business.
Fraud detection will be made easy, since Aquila can handle a large amount of data which needs to be reviewed. Thus provides useful and meaningful information to your fraud investigation staff, and they can focus on collecting evidence that they can relay to your legal team. As a result, you can resolve fraud cases and recover losses in very less time
Accurate Assessment of Risks
Predictive Data Analytics
Speedy Case Closure
Aquila will not only give you useful information about fraudulent transactions or behaviors, but also actionable insights. You can use these insights to discipline guilty parties internally, or take legal action to close fraud cases swiftly.