www.illumisglobal.com Open in urlscan Pro
104.197.253.23  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Skip to content
 * Company
     Company
   * Industries
   * Careers
 * Auditing
 * BI Solutions
     BI Solutions
   * Vendor Scrub
   * Fraud
   * Duplicates
   * Terms
   * Reporting
 * Advisory
     Advisory
   * Cost Recovery
   * Contract compliance
   * Infrastructure Review
   * Process Procedure
 * Resources
 * Contact

Menu
 * Company
     Company
   * Industries
   * Careers
 * Auditing
 * BI Solutions
     BI Solutions
   * Vendor Scrub
   * Fraud
   * Duplicates
   * Terms
   * Reporting
 * Advisory
     Advisory
   * Cost Recovery
   * Contract compliance
   * Infrastructure Review
   * Process Procedure
 * Resources
 * Contact

Client Login
 * Company
     Company
   * Industries
   * Careers
 * Auditing
 * BI Solutions
     BI Solutions
   * Vendor Scrub
   * Fraud
   * Duplicates
   * Terms
   * Reporting
 * Advisory
     Advisory
   * Cost Recovery
   * Contract compliance
   * Infrastructure Review
   * Process Procedure
 * Resources
 * Contact

Client Login



BI SOLUTIONS


ACCOUNTS PAYABLE FRAUD




IMPLEMENTING VENDOR FRAUD PREVENTION



Fight accounts payable fraud using data analytics. Analytics are highly
effective in identifying and preventing fraud by bringing in data from different
sources and using business intelligence to identify irregularities within
massive amounts of data. We run a range of tests that break fields down into
categories, identify records with missing information across suppliers and test
employee and payable data to identify suspect activity, ensuring your profits
are protected now and in the future.

 

Our vendor fraud prevention program will help you quickly and effectively
identify and track questionable behaviors.




DETECT. PROTECT. PREDICT.

Each vendor is scored based on thresholds and points assigned through a battery
of tests to observe the need for vendor fraud prevention. While failure of any
single test does not necessarily indicate fraud, failing multiple tests raises
the probability of accounts payable fraud.

 

 

The higher the score the greater the risk.


VENDOR MASTER TEST EXAMPLES


 * Duplicate Vendors Accounts
 * Vendor Address = Employee Address
 * Mail Drop Address
 * High Risk Address (Prisons, et. al.)


INVOICE TESTS


 * Benford’s Law (4 Positions)
 * Just Below Approval Amounts
 * Spikes Above the Average Amount
 * High Variance per Month
 * Rapid Increases


INVOICE NUMBERS EXAMPLES


 * Sequentially-Numbered Invoices
 * Out of Sequence Invoice Numbers


VENDORS CONSISTENTLY PAID QUICKLY


 * High Percentage Canceled Checks
 * Checks Dated on a Weekend




REAL RESULTS


EXAMINE, IDENTIFY AND RESOLVE THREATS.


THE CHALLENGE

A Fortune 500 client employed third party consultants and in-house data queries
to identify potential accounts payable fraud. However, there was only time for a
random sampling of payment activity.

 

 

The company faced significant exposure and needed to identify a process which
would allow for a more comprehensive review and focus on the vendors with the
greatest probability of risk and accounts payable fraud. 


THE SOLUTION

Illumis created a monthly process to screen every vendor, employee and
transaction for accounts payable fraud. The Fraud Control scoring system was
implemented, immediately removing 99.7% of their vendor population from
consideration. The remaining 339 vendors returned a total of 105 fraudulent
disbursements which were spread across 5 vendor records created for the sole
purpose of facilitating fraudulent disbursements.


THE RESULT

5 fraudulent vendors, 105 fraudulent transactions and vendor fraud prevention
against the unknown.


THE EVER-RISING COST OF ACCOUNTS PAYABLE FRAUD



A study by the Association of Certified Fraud Examiners found that in 22% of the
cases reported, the loss per incident was greater than $1 million

 * Vendor Scrub
 * Duplicates
 * Terms
 * Fraud
 * Reporting

 * Vendor Scrub
 * Duplicates
 * Terms
 * Fraud
 * Reporting


READY TO GET STARTED?


CONTACT US TODAY.

Contact Us

 * Company
   * Industries
   * Careers

 * Company
   * Industries
   * Careers

 * Auditing
 * Resources
 * BI Solutions
 * Contact
 * Advisory
 * Client Login

 * Auditing
 * Resources
 * BI Solutions
 * Contact
 * Advisory
 * Client Login


FACEBOOK


LINKEDIN

Privacy Policy
 * Company
   * Industries
   * Careers
 * Auditing
 * BI Solutions

 * Company
   * Industries
   * Careers
 * Auditing
 * BI Solutions

 * Contact
 * Resources
 * Advisory
 * Client Login

 * Contact
 * Resources
 * Advisory
 * Client Login


FACEBOOK


LINKEDIN

Privacy Policy

Request for Proposal

Find out what Illumis Global can do for your business.

Submit Request

Global Headquarters

Mount Pleasant, South Carolina
877.884.3775
Contact Now

European Headquarters

London, United Kingdom
+44 20 3473 2935
Contact Now
We use cookies on our website to give you the most relevant experience by
remembering your preferences and repeat visits. By clicking “Accept”, you
consent to the use of ALL the cookies.

Do not sell my personal information.
Cookie SettingsAccept
Manage consent
Close

PRIVACY OVERVIEW

This website uses cookies to improve your experience while you navigate through
the website. Out of these, the cookies that are categorized as necessary are
stored on your browser as they are essential for the working of basic
functionalities of the ...
Necessary
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly.
These cookies ensure basic functionalities and security features of the website,
anonymously.

CookieDurationDescriptioncookielawinfo-checkbox-analytics11 monthsThis cookie is
set by GDPR Cookie Consent plugin. The cookie is used to store the user consent
for the cookies in the category "Analytics".cookielawinfo-checkbox-functional11
monthsThe cookie is set by GDPR cookie consent to record the user consent for
the cookies in the category "Functional".cookielawinfo-checkbox-necessary11
monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to
store the user consent for the cookies in the category
"Necessary".cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR
Cookie Consent plugin. The cookie is used to store the user consent for the
cookies in the category "Other.cookielawinfo-checkbox-performance11 monthsThis
cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the
user consent for the cookies in the category
"Performance".viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie
Consent plugin and is used to store whether or not user has consented to the use
of cookies. It does not store any personal data.

Functional
Functional
Functional cookies help to perform certain functionalities like sharing the
content of the website on social media platforms, collect feedbacks, and other
third-party features.
Performance
Performance
Performance cookies are used to understand and analyze the key performance
indexes of the website which helps in delivering a better user experience for
the visitors.
Analytics
Analytics
Analytical cookies are used to understand how visitors interact with the
website. These cookies help provide information on metrics the number of
visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and
marketing campaigns. These cookies track visitors across websites and collect
information to provide customized ads.
Others
Others
Other uncategorized cookies are those that are being analyzed and have not been
classified into a category as yet.
SAVE & ACCEPT



We'd like to show you notifications for the latest news and updates.


AllowCancel