How we conduct send and transaction analysis

Analysing spending patterns and transactions is crucial for detecting irregularities and potential fraudulent activities within your business. Our fraud detection tool employs advanced techniques to conduct thorough spend and transaction analysis. Here's how we do it:

1. Baseline Benchmarking:

   • We establish a baseline of normal behaviour by analysing historical spending and transaction data. By benchmarking typical patterns, we can identify deviations from the norm, which may indicate suspicious activity.

     Industry Norm Comparison:

   • Our tool compares your spending and transaction patterns with industry norms and benchmarks. This allows us to assess whether your expenditures align with typical practices within your sector, highlighting any discrepancies that warrant further investigation.

     Benford's Law Analysis:

   • We apply Benford's Law, a mathematical principle used to detect anomalies in large datasets, to your transaction data. By analysing the distribution of first digits in transaction amounts, we can identify deviations from expected patterns that may indicate fraudulent or manipulated data.

     Flagging Deviations:

   • Any deviations from established baselines, industry norms, or Benford's Law predictions are flagged for review. Our tool highlights these anomalies, allowing you to investigate further and take appropriate action to address potential fraudulent activities.

By leveraging these sophisticated techniques for spend and transaction analysis, our tool empowers you to identify and mitigate risks effectively. With real-time monitoring and proactive alerts, you can safeguard your business against financial fraud and ensure the integrity of your financial transactions.