PALAXAR's Anti-Fraud Solutions PALAXAR offers a new and unique end to end solution to help organizations better combat fraud. Our team’s significant domain experience, combined with our patent pending approach of both methodology and technology, and our premier partner network enables us to offer a more holistic solution to help companies better prevent and detect fraud. PALAXAR Anti-Fraud Solutions suite covers • Occupational Fraud • Insurance Fraud • Mortgage Fraud • Healthcare Fraud • Broker / Securities Fraud PALAXAR's Occupational Fraud Methodology (Patent-Pending) PALAXAR offers a revolutionary new patent-pending process to combat occupational fraud. We employ a sophisticated blend of data modeling, artificial intelligence, social networking analysis, and state-of-the-art information technology to help companies ensure their trusted employees are in fact, trustworthy. PALAXAR evaluates the risk of occupational fraud within a client-agreed scope and identifies employees in “positions at risk’ – those in positions which would enable them to commit fraud. This might either be as a result of the seniority of the position and their ability, for example, to override controls, or for less senior positions, such as cashiers, loans or inventory staff where they have the ability to extract significant value from the organization in the form of cash or other assets. For those trusted employees, identified in positions at risk, and who permissively subscribe to this process, PALAXAR collects, corroborates, analyzes and continually monitors their personal financial data* and related behaviors to ensure that their financial performance (based on our unique algorithm), and changes in it over a period of time, are consistent with the appropriate standards. This process allows us to assess their propensity to commit occupational fraud. PALAXAR is able to automate most of its review process, by employing public and commercially available data sources allowing it to provide clients with virtually instantaneous results. When disparate, relational data are identified, it is verified for accuracy before referred for manual follow-up and further investigative review, if necessary. Tolerance limits can be set according to industry, position, or individualized corporate preferences. Anomalous behaviors or transactions are automatically flagged for immediate notification. Companies have the option of simply incorporating PALAXAR services as one of a number of factors in their overall fraud risk-assessment evaluation or they can outsource that function to PALAXAR and elect to receive periodic individualized reports containing facts upon which to base final decisions on actions where anomalies in financial behaviors have been identified. * [Note: that any personal financial information data used by PALAXAR is only obtained following the employee’s granting of full and informed consent and is not used or made available to anyone [even client companies] for any purpose other than that described in the consent form.] Client Benefits Using social network link analyses, industry- or corporate-specific patterns of behavior can be further developed, based on the client’s individualized, specific needs or interests. PALAXAR's process also has an advantage through the ability to provide actionable data to support a client’s risk-assessment or decision making needs. In addition, all information provided to a client by PALAXAR reflects actual and actionable behaviors should the client company need to pursue legal remedies. The PALAXAR Solution enables large enterprises to achieve better results in their governance, risk and compliance (GRC) management functions by delivering the following benefits: Reduce Cost - Improved efficiencies by integration, automation and standardization of processes Transparency - Enterprise-wide, real-time visibility of GRC processes Risk Management - Surety of process, resulting in reduced risk Security - Security, certainty and integrity of GRC information Governance - Increased stakeholder and investor confidence translating into market premium Accountability - Improved corporate accountability