Fraud Detection & Prevention

Leveraging Splunk for a Proactive Approach to Protection

Expert Fraud Detection Protects Your Organization

Fraud, as most people know, can have catastrophic effects on any institution—it’s imperative to take proactive steps in preventing it.  

If your organization owns a Splunk solution, leveraging this for fraud detection and prevention is not only an optimal way to maximize the value of your license, but also a reliable and innovative strategy to save your organization significant time, resources, and revenue.

By relying on Splunk, our services allow fraud professionals to focus on the logistics of investigating fraud once it’s identified. The automation in this process also moves at a significantly faster rate than traditional practices, allowing for faster detection and remediation. If your organization is already utilizing Splunk for other ingesting purposes, the pivot towards adding fraud-specific searches and detection is a natural one 

What Are the Most Common Types of Fraud?

Procurement Fraud

Account Takeover

Drug Diversion

Inventory Control Fraud

Credit Card Fraud

Gift Card Fraud

Breaking Down Our Fraud Detection Services

SP6’s Fraud Detection and Prevention services begin with a workshop between you and your team of SP6 professionals. This working session will allow our engineers to determine your priorities, biggest areas of concern, and relevant data sources directly related to your organization’s risks and direct threats.  

By personalizing your Splunk solution with custom processes specific to the types of fraud your organization is vulnerable to, our Splunk Core Certified engineers build custom sequences with data ingested from your environment utilizing a practice called, Risk-Based Alerting (RBA).

Risk-Based Alerting allows our team to integrate additional context and attribution into your detection logic. Once your environment has scored different levels of risk associated with different data inputs, our engineers help you reduce overall alert volume, improve detection quality, and advance your overall fraud detection and prevention efforts.  This allows investigators to focus on higher fidelity fraud cases instead of getting swamped down by outliers or outright false positives.  

  • Running searches and detections continuously for real-time monitoring  
  • Increasing response time to detected fraud for maximum savings 
  • Reducing the rate of false positives in your current fraud detection 
  • Cut down the manual labor and workload of your organization’s fraud professionals 
  • Utilizing a solution like Splunk that you’ve already invested in 

Ready to Take a Proactive Approach to Fraud Detection and Prevention?

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Schedule a quick call with one of our Splunk experts!