"Economic crime is a serious threat in South Africa. More than two thirds of South African organisations (69%) have experienced economic crime. Detection methods are not keeping pace. Economic crime is costing businesses billions"
- (PwC’s 2016 Global Economic Crime survey)

It is a tough fact that that no organisation is immune to fraud and corruption, particularly in its procurement cycles. The reputational and financial consequences are often disastrous. With pressure on finances it is more important than ever to prevent and detect costly fraud.

Unfortunately, traditional procurement fraud approaches tend to be reactive, discovering fraud only after the damage has been done. The complexity of the procurement process, the potential for fraud at all phases of the process, the involvement of many people, and the sheer number of transactions combine to make detection a challenge.

Internal controls and policies, are not enough. Organisations need a second line of defence.

Join us for an informative session where we discuss how the prevailing weaknesses in fraud detection can be resolved through the implementation of a hybrid analytical approach that can help prevent or mitigate losses before payment.

Agenda

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