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Top 10 Fraud Investigation Software | 2018


Top 10 Fraud Investigation Software | 2018
5 (100%) 1 vote

Do you have your own business? And do you allow different payment means for your services like checks and credit cards perhaps? In this day and age, more and more people are inclined to use credit cards and other types of payment methods instead of paying with cold cash. There isn’t really anything wrong with those modes of payments except that business owners are at risk of experiencing financial fraud and that is where fraud investigation software really comes into play.

Read More: Top 11 Best Computer Forensics Software


Financial fraud pertains to the mishandling of financial resources which often results to legal actions. Most of the time, fraud happens when the person handling the money makes a purposeful mismanagement of the finances which causes financial losses to a company or establishment for whom a service or product was utilized. To paint a clearer picture, imagine a person paying for the goods using checks. When the company deposits the check or have it exchanged for cash, the check bounced back because the issuer of the check deliberately failed to put funds in the check. In the end, a fraud or theft was committed because the goods were not paid for properly and fraud investigation software is paramount in detecting this.

Read More: Best Law Enforcement Software

How to investigate financial fraud with Fraud Investigation Software

Most companies deal with fraud almost every single day. That is why nowadays, almost all businesses, especially the big ones, have a fraud investigation department or hire external help from financial institutions to check and investigate for fraudulent transactions.

But how does fraud investigation take place? Naturally, in any fraud investigation, there are series of steps that one must take in order to completely prove or disprove the fraud claim. Back in the days, investigations are done manually, checking the paper trails one by one and trying to find the individual who is accused of committing fraud. The problem with this is that it usually takes too long before the fraud claim is resolved. The good thing is that nowadays, there is a fraud investigation software that companies can use in order to make the investigation process a whole lot easier. These kinds of software are guaranteed to be effective and lawful as they provide helpful features that adhere to the standard regulations of fraud investigation provided by the state.

Fraud Investigation Software How does it work?

Companies who handle fraud investigation often have a hard time keeping tabs with the progress of their work, which is perhaps one of the reasons why they have a difficult time solving fraudulent claims. And this is the one thing that a fraud investigation software aims to solve. The software, which can easily be purchased and downloaded through the many reputable sites, allows investigators access to a convenient tool that they can use.

Using the fraud investigation software is simple and easy. Upon starting with the fraud investigation, the investigator needs to create an account for that particular case, providing all the necessary details like personal information, last financial transactions, as well when the fraud took place. Previous fraud claims and other existing cases and paper trails connected with the specific case may also be linked to the entry for a more extensive monitoring. Once done, the fraud investigation software will then create a series of things to do to spearhead the investigation.

Upon finishing the initial investigation, the fraud investigation software can also generate follow up tasks that may be necessary to take in order to achieve a full and comprehensive investigation report for the fraud claim.  This serves as an extra precaution so as to make sure that no necessary details are left out.

After the investigation process has been completed and all the data needed for the investigation have been gathered, the fraud investigation softwarethen saves all the entries and creates a summary of the investigation for easier evaluation and review. Upon analysis, the software can also provide possible recommendations that will help resolve the fraud claim.

What are the benefits of using fraud investigation software?

What’s great about having a fraud investigation software as an aid in solving fraudulent claims is that it helps organize the process of investigation making it more efficient and productive. As compared with doing manual investigations, the paper work is often buried beneath newer cases which make the resolution a lot longer. But with the help of the software program, investigators can easily monitor the progress of the investigation as it includes features that allow for pop up reminders and alerts. This keeps the investigators aware of overdue cases as well as those that are in danger of becoming inactive accounts thanks to their fraud investigation software.

The fact that the fraud investigation software allows automatic generation of concise reports based from the data entries provided during the course of investigation is also something that is very beneficial to investigators. It helps make the evaluation and analysis process faster as all the data that they need is spread out for them. In addition to this, the recommendations provided by the software are also useful in resolving a case. Fraud investigation software is very important in investigations so make sure you have a copy.


Top 10 Fraud Investigation Management Software:


I-SIGHT

i-Sight’s investigation software helps you track and manage investigations of fraud and theft, and report on results for better risk management and prevention.

I-SIGHT

I-SIGHT

SAS

Fraud detection and investigation software from SAS takes a unique, hybrid approach to detecting, preventing and managing fraud no matter what industry you’re in. A powerful fraud analytics engine uses multiple techniques to uncover more suspicious activity than ever before.

SAS

SAS

COLUMNCASEINVESTIGATIVE

Column Case Investigative helps you manage your case through investigative software. It’s designed to keep your records organized and workflow progressing.

COLUMNCASEINVESTIGATIVE

COLUMNCASEINVESTIGATIVE

IBM

IBM Case Manager for Investigations provides an integrated software offering that accelerates deployment of solutions for several types of investigations, such as enterprise fraud management, law enforcement, public safety, intelligence, internal investigations, mergers and acquisitions, and risk assessment investigations.

IBM

IBM

CIVICUK

Civicuk Advance Fraud Investigation and Prevention solution (AFIP) enables the aggregation of any type of content or activity relating to a fraud “Investigation” across multiple, and in most organisations previously siloed, departments, including external stakeholders.

CIVICUK

CIVICUK

XANALYS

Xanalys solutions help our clients to manage multi-jurisdiction major crime investigations, assess and analyse suspicious financial transactions, capture and act upon intelligence reports, and disclose evidence in a court-ready format to ensure successful outcomes.

XANALYS

XANALYS

AGNOVI

Agnovi’s fraud case management software helps investigators effectively manage tips, complaints and investigations for both internal and external fraud. Currently, our software is helping agencies manage fraudulent event data, record keeping, evidence and compliance for investigations involving:

AGNOVI

AGNOVI

COLUMNCASE

Column Case Investigative’s solution for fraud investigations takes a holistic approach to the management processes required to instill best practices, high level security, audit capabilities, and meet regulatory policies when conducting investigations.

COLUMNCASE

COLUMNCASE

SCOUTCMS

Scout CMS, the investigative case management software used by professionals in insurance, law enforcement, healthcare, financial & brand management fields.

SCOUTCMS

SCOUTCMS

FRISS

FRISS has a 100% focus on automated fraud detection and risk mitigation for P&C insurance companies worldwide. The Explainable AI powered risk and fraud detection solutions for underwriting, claims and SIU help you to grow your business.

FRISS

FRISS

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