Anomaly Detection Provides Early Warning of $1M+ Fraud Scheme

AI-powered Anomaly Detection

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$1M+

In Fraudulent Charges

$1M+

In Fraudulent Charges

$1M+

In Fraudulent Charges

The Challenge

Initial Fraudulent Activity

When IA identified an anomaly in an unused return service, it quickly alerted the customer to a potential issue.

["IA identified a $10K spike in a return service a global eyewear manufacturer hadn’t used before.", "Bad actors bought glasses, initiated returns, altered barcodes, and shipped boxes with unrelated items of similar weight.", "The boxes were signed-for, allowing the return to process without the actual merchandise."]

The Solution

A Second Wave of Fraud

The fraud escalated as the perpetrators targeted the company’s UPS accounts.

["Fraudsters compromised the company’s UPS accounts and altered ship-to addresses.", "They used the return service to ship stolen goods from Mexico to the U.S. at the company’s expense.", "Over $1M in fraudulent activity was detected, triggering an FBI investigation."]

The Impact

The company now actively uses Intelligent Audit’s Anomaly Detection to prevent future fraud.

["If the company had acted on the first detection, fraud would have been limited to $10,000.", "Instead, the company faced over $1M in fraud before rectifying the issue.", "The company now relies on IA’s tools to proactively monitor and detect anomalies in real time."]

AI-powered Anomaly Detection

Spot anomalies, solve problems, prevent repeats.As an extension to your freight audit, leverage anomaly detection to pinpoint what happened, where, and why—addressing root causes and preventing future issues.

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Your Secret Weapon Against Fraud

By leveraging Intelligent Audit’s Anomaly Detection, the company has significantly improved its ability to detect and prevent fraudulent activities. What began as a $10,000 anomaly grew into over $1M in losses, but with IA’s proactive tools in place, the company is now able to identify issues early and prevent future fraud, protecting both its bottom line and reputation.

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