Fraud Prevention and Detection: ‘Breaking the Fraud Triangle’

ZyLAB, leading provider of eDiscovery and Information Risk Management solutions, today publishes a new whitepaper on fraud prevention and detection. The whitepaper ‘Breaking the Fraud Triangle’ provides legal and information risk management professionals with best-practices and recommendations for Fraud Triangle Analytics (FTA) to support their internal investigations on Big Data collections in order to prevent and detect fraud as early as possible.

Johannes Scholtes, Chief Strategy Officer of ZyLAB explains the importance for enterprises to take a firm stand against fraud and corruption. “Corporate economic crimes are difficult to detect and prevent. But the financial and reputational consequences and the growing public and political demand for harsh action on corporates whose employees break the law, are forcing companies to review their security and compliance policies to limit the extent to which fraud can take place. This is why more and more organizations increase the number of internal audits and fraud investigations.”

Evidence of non-compliance and fraud is more often than not, hidden in the vast volume of unstructured data, formed by e-mails, user documents, presentations, and web content. Analyzing this ‘Big Data’ is necessary to find the key elements that increase the likelihood of fraudulent activities.

The new whitepaper illustrates how Fraud Triangle Analytics (FTA) supports corporate security officers and internal auditors with these internal investigations on Big Data collections to prevent and detect fraud as early as possible.

The whitepaper “Breaking the Fraud Triangle” show how Big Data can be researched, extracted and presented in a transparent structure so the results of the investigation can be used to automatically detect potential fraudulent activities and prevent these in the future. In addition it also demonstrations how to deal with confidential, privacy or privileged information and data protection concerns.

About ZyLAB

ZyLAB’s industry-leading, modular eDiscovery and enterprise information management solutions enable organizations to manage boundless amounts of enterprise data in any format and language, to mitigate risk, reduce costs, investigate matters and elicit business productivity and intelligence.

The ZyLAB eDiscovery system is directly aligned with the Electronic Discovery Reference Model (EDRM) and the company’s products and services are used on an enterprise level by corporations, government agencies, courts, and law firms, as well as on specific projects for legal services, auditing, and accounting providers. ZyLAB systems are also available in a Software-as-a-Services (SaaS) model.

ZyLAB is positioned by Gartner, Inc. as one of the strongest “Visionaries” in the 2013 Magic Quadrant for eDiscovery Software and has received numerous other industry accolades over the last 3 decades.