Fraud & Risk Management

Fraud and risk management

OVERVIEW

Globally and in South Africa, fraud has increased significantly over the past 10 years and has become a major discussion point in boardrooms. Fraud schemes have evolved from basic cheque fraud and falsified documents to more complex system- based incidents that are mostly driven by sophisticated syndicates.

With this in mind, Barnstone Fraud Risk Services aims to leverage technology to mitigate the risk of fraud, conduct investigations and to identify areas for process improvement for our clients.

SPECIALIST FORENSIC SERVICES

Gathering evidence and establishing the true facts are paramount to any investigation. We offer our clients a wealth of experience in this area. Our services include fraud and corruption investigations, fraud risk assessments and fraud awareness training. We have specialists in the field who are skilled in digital evidence acquisition as well as forensic data analysis

TRANSACTION MONITORING

We have partnered with Oversight Systems, a US based software company that provides continuous transaction monitoring solutions enabling clients to detect and prevent instances of fraud, waste, errors and abuse within financial transactions.

Oversight’s international client base includes Government organisations, utilities and private sector companies across most industries. Examples include Coke, McDonalds, Pfizer and the US Dept of Defense.

Being compatible with most ERP systems including SAP, Oracle and JD Edwards, its software “flags” anomalies based on pre defined criteria and maintains an audit trail on a user friendly “workbench”. Each and every transaction processed on the system is monitored on a real time basis.

CORPORATE INTELLIGENCE

South African companies are increasingly conducting business within the developing world which heightens the risk of money laundering, fraud, and corruption. This could lead to a loss of reputation, as well as significant financial loss.

We offer procurement screening, business partner due diligence and probity reviews to help our clients mitigate these risks.