Report It Now has formed a strategic partnership with Accord Analytics to deliver integrated fraud detection and whistleblower protection services for organisations across Australasia.
The collaboration aims to address a growing need for more robust integrity solutions in response to a marked rise in reported cases of fraud and misconduct in the region. Recent data from the Serious Fraud Office in New Zealand revealed a 40% increase in fraud and corruption complaints in 2022, with protected disclosures and whistleblower complaints rising by 58% over the past year.
By combining Accord Analytics' artificial intelligence-driven fraud detection capabilities with Report It Now's secure ethics reporting and case management solutions, the two companies intend to provide an end-to-end system that covers the entire fraud lifecycle, from early identification of potential risks to confidential reporting and resolution.
Expanded detection capabilities
The technology underpinning the partnership leverages advanced algorithms developed by Accord Analytics. These are designed to analyse payroll, vendor transactions, and communications data for fraud patterns that may otherwise go undetected using traditional investigative approaches. Accord Analytics' AI technology, which draws on concepts from physics and transportation economics, is able to detect fraud "fingerprints" via simple data extracts and within a short timeframe, often producing actionable results in as little as 48 hours.
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