Companies that transact electronically must have a cyberfraud and financial crime prevention solution in place to prevent losses incurred in areas such as customer experience, revenue, reputation, and even regulatory non-compliance.
A company's greatest fraud risk is the insider or third-party who has the ‘keys to the building’ and misuses these for personal gain.
Fraud and financial crime management refers to the effective management and elimination of deceptive financial practices that use an organisations infrastructure and processes for the purpose of material gain. Financial crime includes offences such as money laundering, terrorist financing, fraud, bribery and corruption, market abuse and insider trading.
Magix works with your organisation to understand your payment processes and to identify gaps/risks that expose your organisation to fraud. Thereafter we work with your investigators to construct the alert and escalation criteria and the workflow per case type. Magix then configures/customises the solution for maximum visibility and defence for your processes.