Digging deeper to uncover fraud

Graydon, Europe’s leading providers of business data, insights, analytics and solutions and Neotas, a leading provider of online due diligence, announced the launch of Graydon Forensic Investigations, an enhanced investigation tool for businesses of all sizes to benefit from deeper due diligence, better risk management and insights from the full picture, not just the 6% of information available via a search engine.

The launch of the solution follows the earlier announcement of an anti-fraud focussed partnership between the two organisations, aimed at delivering cost-effective enhanced investigative capabilities. It is available immediately, and at a crucial time. Graydon analysis shows that fraudsters are using the COVID-19 pandemic as cover to operate fraudulent entities, and data from trade credit members of Graydon intelligence networks shows that fraud is at an all-time high since the financial crisis.

Graydon Forensic Investigations are driven by a combination of advanced technology and analyst teams and enable organisations to conduct deeper and more thorough due diligence than a manual, human team-led approach, yielding results up to 15-times faster, with zero false positives. Unlike a typical online approach, the report examines 100% of the available data, not simply the 6% that is available via a search engine.

The investigation provides a huge amount of additional insight at the hands of the user, with deep open source intelligence providing insight on various key issues including false identities, aliases, temporary websites, cached webpages, shell companies, international and off-shore corporate structures and other potential fraud indicators that are undiscoverable using traditional methods.

Recent client successes for such investigations include the location of an estranged CEO sought by law enforcement, and the identification of a company director acting under an alias, who was previously found guilty and imprisoned in the USA for fraud. This is only one of many examples available.

Graydon Forensic Investigations are available immediately, and are open to new or existing customers, via the Graydon website.

Simon Blackwell, Managing Director Graydon UK:

“I’m delighted to announce the launch of Graydon Forensic Investigations, particularly at such a crucial time when our own data shows so many fraudsters are attempting to use the COVID-19 pandemic as cover to perpetrate commercial fraud. The combination of our data, technology and the expert analysis of Neotas’ teams creates an unbeatable proposition for peace of mind when dealing with high-value or high-risk orders.”

Vipul Mishra, CEO Neotas:

“In these challenging times fraud is on the rise, driven by multiple factors. Issues, such as, companies pretending to offer services they can’t deliver, directors assuming aliases to disguise their intentions, or the need to work with new customers, partners or suppliers in new parts of the world, all throw up challenges. Technology now makes these issues much easier to identify, and we are very proud to be working with Graydon to help firms globally protect their bottom line.”  

About Graydon

With more than 130 years of experience, Graydon is a leading provider of business information, analytics and insights. Graydon helps its customers to make fast, accurate decisions, enabling them to minimise risk and identify fraud as well as optimise opportunities with their commercial relationships. To do so, Graydon uses more than 130 international databases and the information of more than 90 million companies. Graydon has offices in London, Cardiff, Amsterdam and Antwerp. Since 2016 Graydon has been part of Atradius, one of the world’s largest credit insurance companies.

Graydon UK www.graydon.co.uk

About Neotas

Neotas, founded in 2017, leverages open source intelligence (OSINT) to analyse a company’s or an individual’s ‘digital footprint’, providing advanced insights without invading their privacy. This includes analysis of international records, social media and the deep and dark web – information which is openly available but mostly cannot be found via search engines. Clients range from private equity firms carrying out pre-investment checks to banks and institutions which need to comply with anti-money laundering (AML) rules or the Senior Managers & Certification Regime (SMCR).

Neotas https://neotas.com/

Source: Graydon Press Release