As the world moves towards digitization of information, document fraud is becoming commonplace. Whether it is insurance fraud, bank card scams or even identity theft, practices are constantly evolving. Moreover, according to the survey ofArchimag, document fraud increased by 100 % in 2022. So how does document fraud impact your business? And above all, how can you protect yourself and your business from it? We answer you in this article!
Document fraud: how does it affect your business?
There document fraud is today a scourge against which every company must fight.
Insurance, banking or even real estate, whatever the size of your business and the sector concerned, document fraud is spreading. This is evidenced by the figures since today 69 % companies declare having suffered an attempted fraud according to a study published in 2022 by AllianzTrade and DFCG.
To find out the consequences of fraud, read our article: The risks of documentary fraud on your business
Maintain control over your business data to guarantee your revenue
For a fraudster, it is very easy to access your company's data since it is generally found on Societe.com or Infogreffe.fr.
On the other hand, to prevent fraudsters from having access to other more personal information such as the vacation date of your anti-fraud manager or the pay slips of some of your employees, you will have to be vigilant.
Also consider training your staff on protection of their personal data. Let them know to use strong, unique and obviously confidential passwords. For example, you should not put the name or date of birth of a loved one as a security code.
It may also be interesting to use a password software. It will allow you to save several of your codes in one place.
Protect your business income: separation of tasks within your teams
By avoiding document fraud, you protect your income. To do this, remember to separate the tasks specific to each person.
For example, it can be very interesting to create an anti-fraud unit which will develop a prevention policy.
You can also separate this cell into multiple areas, including:
1- A pole named frequent checks
2- One general manager of fraud who will be able to supervise the various controls
3- A person responsible for global fraud policy in the company which will update the company texts
The more segmented your team is, the better the organization will be! So remember to delegate but also to train your employees.
To learn more about how to empower your team, click here 👉 3 ways to empower your anti-fraud team
Secure your business income by training your employees in detection
To secure your business's income as much as possible, an important step is training of your employees and collaborators. Indeed, documentary fraud is certainly clever and original but by analyzing it more closely, you will quickly realize that it follows a pre-established pattern. By educating your employees on these pre-designed templates, you enable them to detect fraud.
To train your employees, you can develop a virtual representation of risks, also called risk mapping. What is it for ? To identify the services and stages most exposed to risk. By describing the risk possibilities, THE guidelines to be put in place as well as the actions to take in the event of fraud, you develop an overview of the most effective way to combat document fraud.
To best follow the risk mapping, consider carrying out audits. They allow you to evaluate your company's overall risk management system and to know whether they are sufficiently taken care of.
Although employee awareness constitutes an effective barrier against document falsification, human error is possible. It may therefore also be relevant to implement an anti-fraud solution.
Save your business capital with an anti-fraud solution
To protect your business income, equipping yourself with a solution is very wise!
Today, our Finovox solution offers innovative software specializing in the detection of false documents, available in the form of SaaS service or via a API interface. Designed to simplify the fake detection analysis process, the software allows businesses to spot, to identify, And to analyze miscellaneous types of documentary fraud. The effectiveness of the solution is based on proprietary artificial intelligence which performs an in-depth analysis of the data structure, metadata, and the quality of the information present in the documents.
By exploiting these features, Finovox offers you the possibility of quickly detect document fraud, for all documents submitted.
Please note that Finovox also offers you the opportunity to understand in depth the possible alterations in your documents. The platform allows the recovery of a summary sheet in PDF format. This form can be included in a legal file or sent. It then offers you protection against documentary fraud while providing the possibility of sourcing, explaining, and estimating the amount of fraud. Interesting so as not to threaten your company's income!
Does this solution appeal to you? Don’t hesitate any longer and contact our experts to find out more about how it works.
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