eCommerce Chain

Factoring and Invoice Finance Frauds. In the current period of considerable upheaval and uncertainty, increasing pressure on businesses is making fraudulent activity an ever-present risk for lenders.

Invoice financing is a big area of fraud where fraudsters present the same invoice to multiple banks for processing. Despite its prevalence, Such financing frauds are still often addressed as a passive event where a post-mortem identifies the red flags that were missed–meaning the loss isn’t prevented and often not enough is done to reduce the likelihood of it happening again.This is a general class of problem of inability to detect duplicate documents or non-genuine documents by a single organization with its past presented documents or in a multi organizational context where the same document is presented to multiple organizations across multiple verticals.

The rise of the eCommerce industry following the current Pandemic has transformed the way businesses operate. Covid19 has accelerated the shift to eCommerce and digitalization in business across various industries. Due to this rise, disruptions in supply chain, logistics, & operations of eCommerce have been recorded for the intermediaries associated with eCommerce companies.

E-commerce transactions across borders are complex and yet not adapted to new realities of e-commerce. A typical E-Commerce purchase involves various intermediaries including but not limited to Custom Authorities, Courier Companies, Clearing Authorities or agents, warehousing companies, online marketplaces & sellers, and Customer sides, etc., increasing the complexity in eCommerce transactions.