Fraud prevention & risk management
Prevent fraud, not just detect it
SpendConsole’s fraud prevention solution screens invoices, suppliers, and payments for risk in real time and holds suspect payments before funds move. It's part of SpendConsole's AI-powered payables orchestration platform — connecting supplier onboarding, invoice capture, exception resolution, compliance, fraud prevention, payments, and spend intelligence in one workflow layer across multiple ERPs, entities, and regulatory environments.
How SpendConsole compares to other fraud and risk solutions
FAQs
The most common types are business email compromise and bank-account redirection, fake or shell suppliers, duplicate and inflated invoices, billing-scheme collusion, and manipulated approvals. Each targets a gap in manual AP controls.
Traditional detection reviews payments after the fact using static rules and sampling. SpendConsole embeds real-time risk controls across the payables lifecycle, screening suppliers, invoices, and payments continuously and holding suspect transactions before release. Investigation and resolution run around 60% faster.
AI checks flag duplicate invoices, mismatched amounts, and suspicious patterns at capture and before payment. Duplicate and erroneous payments drop by around 90%, and duplicate payment rates are held below 0.1%.
Risk signals are confidence-scored and prioritised, so low-risk anomalies clear automatically and only genuine concerns reach an investigator. This keeps alert volume manageable and stops teams from ignoring warnings.
Flagged risks route to an investigator with the evidence, risk score, and recommended action attached. Payments are held while the case is worked, and every step is logged for audit until the risk is cleared or the payment is stopped.
Know Your Supplier (KYS) verification confirms a supplier is legitimate before onboarding and monitors them afterwards — validating tax identifiers, bank accounts, sanctions and denied-party lists, beneficial ownership, and adverse media through the Spend Intelligence Network. It stops fake and high-risk suppliers from being paid.
SpendConsole generates alerts for bank-detail changes, sanctions and denied-party matches, duplicate and anomalous invoices, supplier financial-health deterioration, and behavioural anomalies. Up to 80% of fraud risks are identified before payment.