The energy and power vertical is also experiencing fraud incidents, as major transformations such as the use of sensors, smart meters, and Internet of Things (IoT) technologies are taking place in this industry. Real-time information of billing and loading/unloading of goods helps reduce fraudulent activities and financial losses. Frauds in this vertical include excessive billing, fake billing, supply shortage, and tax frauds. These frauds not only result in revenue losses for organizations, but also tarnish their brand image/reputation.
Fraud Detection and Prevention Solutions in Energy and Utilities
Guardian Analytics provides products for fraud Detection, fraud Analytics and AML. It studies the fraudsters’ techniques and remain a step ahead of them. The only company to protect 100% of users and account holders against all types of threats and frauds and also learns from the attacks to be more advanced. Other solutions include account takeover detection, reconnaissance, and fraud set-up activity that indicate possible criminal activity in the early stages of an attack.
Imperva Bot Management's holistic approach provides the most visibility and control over human, good bot, and bad bot traffic. The company’s vigilant service, superior technology, and industry expertise provides customers with unprecedented protection from automated threats—without affecting the flow of essential business traffic.
eMcREY works proactively with clients to defend their assets against hacking, malware, and fraud, giving them the confidence to focus on opportunities rather than threats. The capabilities encompass card fraud detection, neural networks, risk rules engines, behavioural scoring and both real-time and post-authorisation.
Software AG's Event Analytics for Adabas is one of the trusted names for IoT, analytics, independent integrating and process software solutions for enterprises. Fraud detection software by Software AG helps enterprises with real-time metrics and big data records to combat fraud and reduce time-to-detection. Built on Complex Event Processing; the fastest CEP engine, the software allows companies to decrease the missed transactions up to 0.005%, and fight against scams of millions of dollars every year.