Uncovering the Truth: Fund Trail’s Role in Fighting Financial Crimes

Financial crimes have been a persistent threat to businesses and individuals alike, causing significant financial losses and reputational damage. In the financial year 2022, 52% of organizations in India experienced fraud or economic crimes. Additionally, RBI reported 9103 fraud cases in India. As many cases go undetected or unreported, we can assume that the actual amount of financial fraud in India is likely to be much higher than what is reported. Investigating such crimes often involves a laborious process of collecting and analyzing large volumes of financial data to detect any anomalies or suspicious behavior.

Fund Trail, developed by iAcuity, is a powerful tool designed to assist investigators in tracing the flow of funds across multiple accounts and identifying financial crime. Using bank statements and ledgers, Fund Trail’s pattern detection engine identifies anomalies and suspicious behaviors that are essential to the investigation. The powerful analytics and automation features of Fund Trail have made it a go-to tool for investigating a wide range of financial crimes, including Embezzlement, Non-Performing Assets, Ponzi Schemes, Tax Fraud, Money Laundering, and more.

How does Fund Trail combat Financial Crimes?

Fund Trail is a perfect solution which has the ability to simplify data management, allowing investigators to handle a variety of data formats and file types with ease. After manual ingestion of data, it automatically cleans and normalizes data from a majority of digitally readable file formats, while inbuilt data validation tools ensure consistency by removing duplicate records and highlighting periods of missing data. This automation helps investigators analyze millions of transactions, reducing the time and effort spent on manual data management.

Moreover, Fund Trail also delivers actionable intelligence to investigators by automatically carrying out investigation analytics. With over 20 analytics reports, Fund Trail transforms the way investigators use data by analyzing transaction narrations, record matching, and reconciliation between data sets. It provides investigators with deep insights into the flow of funds, identifying red flags for further investigation. These powerful visualizations and analytics reports help investigators uncover anomalies and suspicious behavior with ease. Another advantage of Fund Trail is that it eliminates manual drudgery, allowing investigators to focus on key areas of concern. Its automated data management and analytics capabilities reduce manual handling of data, tagging transactions, and exploring possible fund utilization. By transforming raw data into actionable insights, Fund Trail makes forensic audits easier, presenting investigators with red flags for further investigation.

In addition, it largely reduces investigation time, analyzing millions of transactions within hours. With automated data handling and pre-configured analytics capabilities, investigators are presented with anomalies and red flags soon after the data is uploaded, reducing the time spent cleaning data, tagging transactions, and looking for anomalies. By using Fund Trail, our customers have reduced engagement times from months to weeks. One of the other major advantage of Fund Trail is that it diminishes the risk of human error, ensuring consistent and accurate results. Its pattern detection engine and advanced AI analytics remove the possibility of human error, while automated data validation ensure the accuracy of analysis. Validating the running balance of each file and reconciling across files ensures that no data is missing or duplicated, which further facilitates the investigation process. Lastly, Fund Trail offers cost-effective and flexible licensing options, with a multitude of subscription plans to support every customer. By eliminating manual efforts and allowing teams to take on more engagements, Fund Trail saves time and improves efficiency.

In the face of widespread technology-related corruption, it has become imperative to connect with world-class technology providers that dish out tailored solutions for financial crimes. And Fund Trail’s advanced pattern detection engine, simplified data management, powerful analytics, reduced manual efforts, decreased investigation times, reduced risk of human error, and flexible licensing make it an invaluable tool in the fight against financial crimes. Its ability to analyze vast amounts of data and identify red flags for further investigation helps investigators focus their efforts on key areas of concern, resulting in more effective and efficient investigations. By leveraging the capabilities of Fund Trail, investigators can uncover financial crimes with greater accuracy and efficiency, helping to protect businesses from financial loss and reputational damage.

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