SAS debuts SA-made fraud solution

SAS South Africa will launch a locally developed procurement fraud solution which it claims will change the way that companies detect, manage and prevent fraud.

In South Africa, 59% of companies surveyed by PricewaterhouseCoopers reported that they had detected instances of procurement fraud. This percentage places this country among the highest in the world, and SAS believes the undetected percentage is far higher.

Having picked up on this trend of an increase in procurement fraud, experts at SAS South Africa developed the Procurement Fraud Solution, based on SAS’s Fraud Framework, a series of software modules designed to detect and prevent financial crimes, to develop a comprehensive analytical solution for detecting the likelihood of fraud before it happens.

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