Unveiling the Complexity of White-collar Misconduct
White-collar crimes are one of the most common types of fraud which encompasses various types of deceptive practices including embezzlement, bank fraud, insurance fraud, securities fraud, credit card fraud, identity theft, and forgery.
Increase in Time Saved
Reduced Workload from 550 hours to 56 hours.
Total Savings
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Documents
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Key Actions
Initial Investigation
- Manual data collection and standardization involving 550 hours of effort.
- Cross-referencing bank statements with accounting ledgers to categorize transactions.
- Manual identification of suspicious vendors, irregular transactions, and unusual fund flows.
Transition to Sedra Solutions Platform
- Automated data standardization, reducing time spent from 550 to 56 hours.
- Implementation of advanced cross-referencing tools to streamline the analysis process.
- Visual representation of transactions, spending patterns, and flagged irregularities for easier navigation and review.
- Enhanced features for tracing fund flows and uncovering relationships between entities, including intermediary links.
Key Results
- Time Savings: A 90% reduction in data standardization time.
- Improved Efficiency: The platform automated analysis, allowing for quicker identification of irregularities and suspicious transactions.
- Enhanced Accuracy: Direct and indirect relationships between parties were revealed through visual graphs, improving clarity and decision-making.
- Empowered Users: End users could independently assess and verify flagged transactions and fund paths.
Conclusion
By transitioning from traditional methods to the Sedra Solutions platform, the investigation achieved greater accuracy, efficiency, and user autonomy. The platform not only reduced workload but also provided robust tools for detecting, analyzing, and tracing suspicious activities, paving the way for actionable insights into financial misconduct.