According to AllianzTrade, in 2022, 7 out of 10 companies would have been affected by an attempt at document fraud, in France. Document fraud is a sneaky threat that threatens both the financial health and reputation of your business, regardless of the sector in which it is located. So what are the risks of document fraud on your business? How to fight fraud in the long term? Let's find out in this article.
Document fraud is a deliberate act. It refers to the creation and then use of falsified or fraudulent documents by an individual. Its purpose? Deceive a business or an individual in order to obtain illegitimate benefits or to commit criminal activities.
For example: falsifying a pay slip to be eligible for housing.
Document fraud affects all sectors of activity. From banking, through insurance, real estate or even e-commerce platforms. It represents the third largest criminal industry in the world behind drug trafficking and prostitution, according to Bank magazine.
💡 Did you know?
20% of rental files contain a false document in Paris and in the inner suburbs. A figure that rises to 10% in the rest of France. (ImmoDirect study)
Document fraud has an obvious financial impact on businesses. However, it represents other risks including:
One of the most obvious risks of document fraud is losing money. When fraudulent documents are used to obtain undue payments or to embezzle funds, your business can suffer significant financial losses. These losses can be direct, through fraudulent payments, or indirect.
Document fraud can waste a considerable amount of time for your business. The time required to identify and investigate document fraud is extremely time consuming. Your teams are wasting time on their high value-added tasks.
Your business reputation can be damaged in the event of document fraud. Customers, business partners, and investors can lose confidence in your business if it is perceived as vulnerable to fraud. A bad reputation is hard to repair and can lead to a loss of customers and business opportunities.
These long-term effects can permanently affect the health of your business. It is therefore important to come and limit them. How to do it? Let's find out.
To fight against document fraud, it is necessary to surround yourself with experts in the detection of false documents and set up an anti-fraud unit within your business.
What is an anti-fraud unit and what is its role? 🤔
This is generally a team dedicated to the detection, prevention and management of fraudulent activities. It has several missions such as:
This software is a real asset for companies of all sizes and in all sectors that want to fight against document fraud. So what type of software should you adopt?
Finovox is a software for detecting false documents available in SaaS or API format. It allows businesses to detect, identify and explain any type of document fraud in two clicks. The solution is developed using proprietary artificial intelligence. which analyzes in particular the data structure, the metadata and the quality of the information contained in the documents. In this field, this is called coherence and visual analysis. Thanks to this analysis, it is possible to identify documentary fraud in a few seconds, on 100% of documents.
Beyond this analysis, Finovox allows you to understand and share where the alteration of your documents is located. You can investigate directly on the platform, but you can also recover using a summary sheet. It is available in PDF format and allows you to add information to or send information to a legal file. You thus avoid documentary fraud while being able to source it, explain it and estimate the amount.
Curious to know more about our solution? Contact our experts!
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