Procurement Fraud

Business, CRE & Corporate Fraud & Embezzlement Prevention

Corporations, businesses and commercial real estate income-producing property owner/operators have significant procurement fraud exposure and exposure to embezzlement risk.

Stopping procurement fraud is only one part of the solution. Procurement fraud and embezzlement happen due to a variety of threat factors, so email monitoring and filtering programs can only be reasonably expected to help mitigate the loss events – not prevent the fraud and embezzlement owing to corporate procurement activities from happening in the first place. In the case of Matel, the fraud extended to spoofing email traffic and corporate documents inside the company’s server supposedly originating from the CEO. The resulting $3 million loss would not have been expected to be stopped by an email or other cyber security program.

In other cases, the procurement fraud is internal and involves lapping or false vendor deliveries by which corporate insiders gain an illegal profit. These types of fraud schemes are the type that can continue for years without detection by the current crop of programs and services. The reason is simple: the current systems either address only a symptom of the problem or leave open other avenues by which fraud and/or embezzlement can continue.

The iCREDIT program specifically addresses the problem of accounts payable fraud as it is realized based upon the totality of the issues facing the business (i.e.: funds custody, vendor performance risk, liability transference risk, execution risk, forensic audit trail performance, payment validation, and financial reporting transparency). This approach provides elimination of various forms of fraud and embezzlement as the only outcome because iCREDIT functions in a fundamentally different way to process payments than conventional approaches provide, thus false invoices only serve to identify fraud on the spot because there should be no invoices.

Asset Monitoring for Performance Assurance You Can Afford

Find out how you can obtain these benefits starting on Day 1 of service at a net zero cost to your firm. Contact us today for a free initial risk assessment consultation that is completely confidential.

Best-In-Class Investment Loss Prevention & Mitigation

The INVIZEN Platform was conceptually designed to support the end-goal of preventing investment losses from being realized on commercial real estate loans and investments. 

Most Advanced Underwriting System in CRE Finance

The INVIZEN Platform design construct offers an end-to-end approach that engages the project or business at whatever life-cycle stage the given project or business may be currently found to be operating within.  The INVIZEN Platform is designed to provide a progressive sweep of the entire due diligence spectrum of issues with every review.  It starts with the valuation of the transaction opportunity. 

The Verifier

Incredible Underwriting Attention to Detail

Collateral underwriting is important but the reality is that collateral underwriting really only comes into play for EAD calculations and insurance risk mitigation.  The value of the opportunity is the real issue and the Verifier Report from INVIZEN directly addresses this issue in terms of determining if the proposed transaction is priced at a discount to market based upon the specific risk profile presented by the project, the project’s business and the project’s market.  That’s the Verifier Report.

Market Risk Management

Full-Scope that’s fully tested.

First Look is our real-time market feasibility analysis reporting system for which there is no peer.  The next-gen analytics design of First Look provides testing of the empirical assumptions and findings of the market feasibility analysis to determine if a reasonable basis exists for their inclusion and/or use in the resulting report that includes detail you just can’t find anywhere else.  That’s the First Look Report.

Financial Risk Assessment Underwriting

Full Underwriting Support to Demonstrate Risk Controls

Final Check is the crown jewel of the INVIZEN Platform.  Final Check provides full capacity risk underwriting, collateral risk underwriting, credit risk underwriting and default risk underwriting financial risk assessment data and findings that is backed by a post-funding monitoring program that prevents the most common causes of credit and default risk events from becoming your loss severity risk realities.  That’s Final Check and there is just nothing like it.

Asset Monitoring for Performance Assurance You Can Afford

The outflow is then matched into our unique credit risk management platform that ties credit risk (again, think hard about managing CECL) and default risk prevention program known as iCREDIT. 

CECL Compliance Now Means New Opportunities to Profit

This unique system provides real-time forensic auditing of every transaction event and generates an entirely new set of GAAP financial statements for the benefit of all financial partners that can be accessed in real-time. 

Integrity & Surety Via Real-Time Forensic Robo-Auditing 24/7

Financial reporting transparency risk, execution risk, default risk and all of the associated risks are now within the scope of being proactively managed.  That’s the INVIZEN approach that makes the difference in everything we do. 

Answers That Create New Opportunities

We provide opportunities in the form of distressed asset acquisition opportunities for sponsors and developers that meet the specific underwriting standards and requirements of the specific funds and institutions we support. 

The best-in-class CRE new construction and acquisition financing underwriting tools

Our compliance services focus on FINRA (we are a FINRA Compliance Vendor) and supporting broker-dealers, banks (FASB Topic 326 compliance opportunities regarding CECL), credit unions, community banks, advisors, family offices and institutions that are seeking something more than reactive data and mitigation as being the only likely outcome. 

INVIZEN is about reaching your peak opportunity efficiency level and having the freedom to focus on transactions that are profitable; transactions that have the likelihood of actually closing. 

Clear up your backlog of time-sensitive opportunities. 

Reduce your loss reserve calculations. 

Turn CECL into a competitive advantage. 

Exceed expectations of regulators when it comes to compliance with FINRA, SEC, OCC or the several states. 

When you engage with Rainmaker Analytics you are engaging with a team and a system that is designed to make the financial instruments your firm engages in become a matter that is manageable, less frustrating and more profitable. 

Your new path forward starts with that first phone call and confidential consultation.