$1 Trillion
$150 Billion
20%
Government, Agencies and NGOs
Fraud, Waste and Abuse
A Multi-Trillion Opportunity
The Challenge
Improper payments, fraud and waste in government services is a worldwide problem that has grown to as much as 5 trillion dollars.
Within the US federal government alone, fraud, waste, and abuse (FWA) are widespread, largely unmeasured, and a drain on its taxpayers. Payments that are intentionally misspent or directed to the wrong recipient create fraud losses amounting to nearly $150 billion per year.
The Solution
Fraud, waste, and abuse is greatly reduced by implementing careful controls, real-time anomaly detection, and high-tech analytics/monitoring. Fraud.net’s enterprise fraud detection and analytics platform was designed to empower governments and agencies worldwide to identify and stop fraud in real-time and at scale.
Products to Ensure Trust and Beat Fraud
at Every Step of the Customer Lifecycle
Choose one or combine them for even stronger protection.
Improper Payments
Every year, the US government makes more than $140 billion of improper payments — those funds that go to the wrong recipient, for the incorrect amount, for which documentation is not available, or that the recipient uses improperly.
Lost Revenue
Close to 20 percent of government revenues worldwide, or about $5 trillion, go missing each year, either in dollars owed but never paid or in outbound payments gone awry (McKinsey).
In this era of growing demands for government services and pressing budget challenges worldwide, few fiscal opportunities loom larger than reducing these leakages.
AI + Advanced Analytics
The Fraud.net platform is designed for fast-growth digital leaders. Integrate quickly, test aggressively, and reap the rewards of continuous improvement. We are not a vendor, but a partner and co-investor in your long-term success.
Working with a tight budget? Have a persistent problem that no one else has been able to solve? Ask us about our ‘Start up’ and ‘Performance’ programs.
If you are serious about controlling fraud, removing friction and exceeding your risk-adjusted revenue goals, then contact us today about the right solution for your organization.
