The Fraud Risk Operations Service (frOS) is a Software-as-a-service solution that provides an integrated approach to the analysis, monitoring and governed case management associated with organisational risk events.
FrOS is specialised to address a broad set of fraud tests in the procurement domain, but can be applied to cover extended business scenarios.
The solution compliments existing risk solutions through augmentation or orchestration - or alternatively serve as a go-to central monitoring solution for the enterprise.
Economic crime sitting at 60% for 2020 has seen a decline from 77% two years ago. Although there has been a decline in the volume of cases reported, the instances of high value fraud have increased considerably.
Insurance and procurement fraud rank amongst the top focus areas and have become the popular targets for corporations seeking to minimise costs.
- PwC's Global Economic Crime and Fraud Survey