About
FraudWize
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FraudWize offers an innovative service for fraud risk management, enabling organizations to deal with within and without threats originating from human factor weaknesses, and potentially leading to massive financial and reputational damages.
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FraudWize - Intelligent Fraud Risk Management Services.
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Financial fraud has existed for generations without question.
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No organization can be deemed "bulletproof" against fraudsters, whether they come from within or outside the organization, as long as financial procedures are intertwined with the reliance on the human aspect.
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FraudWize was founded based on the understanding that there is a market need for an integrated solution, end-to-end, in order to reduce the risk of fraud occurrences.
FraudWize also understands the necessity to shorten the crucial window of time between the start of a fraud and its positive detection, enabling efficient handling of the issue in accordance with the organization's policies.
FraudWize believes that the information revolution we've been living through and the rapidly evolving technology landscape have had a substantial impact on commercial activity all over the world.
New threats arise on a daily basis, making it challenging for the existing computing systems and networks along side with AI technologies, sophisticated as they might be, to fully overcome fraud risks.
Providing solutions in the field requires a different perspective and thinking both inside and outside the box.
Combining traditional tactics with the use of innovative tools to monitor risky activity, is an optimal solution to prevent anomalous activity and help identify and analyze it, in a way that reduces the organization's resources and produces value.
Adopting the latest global internal control frameworks, has the effect of giving directors and managers the perception that the organization's internal control is solid as a metal box - Impenetrable.
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Meanwhile, fraudsters observe the same organization with a micro-monocle, spotting the gouges and grooves, big and small, that will allow them to compromise the organization's valuable assets.​
What is FRM ?
FRM
Basically, since ancient time human kind was occupied with managing risks, starting with survival risks to modern threats. ​
F.R.M. which stands for Fraud Risks Management was developed from the organization operational risks management to a separate niche.
Fraud risks, has two main differences from simple operational risk :
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The ambition of initiator is that his actions and consequences will not be discovered rather than 'raising the flag'.
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The initiator might take additional action sto hide indicators that either or erase the option to trail it back to .
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Those differences, among others, make fraud risk much more complicated to be managed and therefore need special treatment through a different perspective.