Statfin | Solutions | Fraud and Risk Management

FRAUD AND RISK MANAGEMENT (FRM)

Identify and mitigate the fraud practices to maintain the trust and credibility of your concern, preventing invalid applicants or high-risk individuals from luring into your legally performing business.

About FRM

What is Fraud and Risk Management?

A Fraud and Risk Management check prevents many industries from potential reputational damage as many high-risk fraudulent practices involving money and identity have become common with the exploitation of technology.

In such cases, Fraud and Risk Management verification can strengthen a Business’s profile by identifying its weak practices in any of its security measures, processes, operations and services.

Why is Fraud and Risk Management?

Policy & Framework Enforcement:Ensures businesses have strong policies to safeguard operations.
Brand & Reputation Protection: Shields businesses from legal and financial risks that could damage their credibility.
Risk of Non-Compliance: Failure to implement proper frameworks can lead to severe liabilities.
Irreversible Consequences: Legal and financial obligations may result in long-term damage to a brand or business.

Key Features

Identity and Document Verification

Identity and Document Verification prevents unauthorized individuals from disrupting the operations of a business.

Biometric and Multi-factor Checks and Authentication

AI-powered biometric verification screens the facial features and body movements of an individual, which cannot be duplicated or altered.

KYC and AML Compliance

A KYC and AML Compliance check can multi-validate the basic identity and money handling practices of a concern/individual.

Risk Scoring and Profiling

Risk Scoring and Profiling validates the credibility of members requesting services or partnerships or any other financial collaborations and dealings.

Behaviour Analytics

A behaviour analytics check finds unusual patterns and behaviours through which many risk factors will be evolved.

Our Process

Identity Verification

Risk Assessment & Profiling

Fraud Detection & Monitoring

Risk Mitigation

Fraud & Risk Reporting

Identity Verification

Screens submitted IDs, documents, and biometrics for KYC compliance.

Risk Assessment & Profiling

Evaluates financial legality, compliance, and regulatory adherence.

Fraud Detection & Monitoring

Identifies suspicious activities in documents, transactions, and legal obligations.

Risk Mitigation

Continuously monitors to detect money laundering, defaults, and financial crimes.

Fraud & Risk Reporting

Documents verified findings for detailed fraud and risk analysis.

F.A.Qs

What is Fraud and Risk Management?

Why is a Fraud and Risk Management Verification important?

What are the common and major fraud practices that may occur?

How does Technology help in Fraud and Risk Management Verification?

Which industries need a Fraud and Risk Management check to verify their clients/users?

What is Fraud and Risk Management?

A fraud and Risk Management check is a verification process to identify, detect and mitigate the potential risks that may include identity, financial, legal and compliance risks involved in business dealings, business/financial transactions, individual payments/transactions, loan approvals and other financial and payment services.

What is Fraud and Risk Management?

Why is a Fraud and Risk Management Verification important?

An FRM check is important to ensure Businesses and Industries have stringent policies and frameworks to protect their brand and reputation from legal and financial obligations. Failing to do so will result in many implications and liabilities that prove irreversible to a Brand or a Business.

What are the common and major fraud practices that may occur?

Identity fraud, Document fabrication, money laundering, account takeover, credentials theft, legal and financial cyber crimes, etc.

How does Technology help in Fraud and Risk Management Verification?

Technology helps in real-time transaction monitoring, behavioral analytics, biometric verification, fraud and risk scoring to identify behavioral and risk patterns instantly.

Which industries need a Fraud and Risk Management check to verify their clients/users?