Vendor Risk Management: New Search Features Pinpoint Risks and Fraud Quickly

CaseWare Analytics, the developer of software solutions for financial crime management, compliance and audit professionals, announces that the most recent release of CaseWare Monitor, its continuous monitoring and financial crime management platform, now allows users to search more data sources and find more relevant data quickly when assessing the risk of customers, vendors and transactions.

With this newest release, CaseWare Monitor users now have a Google-like search engine that allows them to quickly search internal and external data sources for a more comprehensive view of information relevant to their queries. Internal enterprise data that can be searched includes documents, alerts, work items, cases, regulatory reports, comments and attachments, while external data sources include lists for export controlled goods, dual purpose goods, military goods and more. The results of the queries can be refined with filters to help enterprise users quickly hone in on risks.

“As fraud, waste and abuse continue to increase and schemes become more complex, it’s imperative that organizations leverage many data sources to identify risks and suspicious transactions,” says Andrew Simpson, Chief Operating Officer, CaseWare Analytics. “In addition, there is growing pressure for organizations to learn as much as possible about their customers and vendors—including if they are dealing with politically exposed persons or export controlled goods.”

CaseWare Analytics offers a scalable compliance and fraud detection platform that continuously monitors enterprise controls. Suited for use in various parts of an organization, the solution includes the ability to measure the performance of purchase card (P-Card) and travel & entertainment (T&E) programs, ensure compliance with anti-money laundering (AML) regulations, reduce fraud, waste and abuse in payment and procurement processes and more. CaseWare Analytics’ solutions integrate with existing core systems and are configurable as an end-to-end enterprise controls monitoring solution, or as a modular solution to meet specific customer needs.

This latest release of the platform also includes more advanced analytics, workflow decision learning, advanced fraud detection models, real-time customer screening and more that enable organizations to quickly and intelligently detect suspicious activities, perform thorough investigations and comply with regulations.

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