Procurement fraud: an essential business process facing a silent threat
Procurement fraud is particularly complex, hidden and difficult to detect. It can be perpetrated by those inside or outside an organisation, and it is rarely reported.
Although organisations typically rely on the integrity of their internal system controls, they’re also aware that no system is foolproof, and that individuals can negate these controls.
A proactive solution to the problem
The latest fraud detection systems must look past traditional rules-based approaches to be able to interrogate data to release its full potential. Using analytics will enable organisations to detect and prevent procurement fraud through proactive monitoring of business data.
- Typical procurement fraud typologies
- Emerging trends across Australia and New Zealand
- Analytical methodologies to illustrate how organisations can detect fraud before it happens