GRC Tuesdays: SAP Business Integrity Screening Is the New SAP Fraud Management Solution
What Is SAP Business Integrity Screening?
The original SAP Fraud Management solution has recently been rebranded as SAP Business Integrity Screening after some screening capabilities were added to it. Even though the solution was first used by initial customers to address fraud-related scenarios, it soon became apparent that it was a powerful analytical solution that customers could use to detect all kinds of potential exceptions such as errors, waste, and abuse—regardless of whether they were fraud related or not.
By incorporating additional screening capabilities, the solution also allows organizations to screen names/addresses of any entity or individual against external lists to ensure they aren’t conducting business with any sanctioned or blacklisted parties.
The new solution name better conveys what its capabilities are. Today, we’ll explore some of the scenarios it can address.
What Can SAP Business Integrity Screening Do for My Organization?
The newly added screening capabilities allow your organization to use external lists issued by content providers as well as government and international agencies to screen any parties you might be conducting business with. Examples of these lists include Politically Exposed Persons, Denied/Sanctioned Parties, Specially Designated Nationals, High-Risk Countries, and so on. Your organization could then take the correct course of action depending on the types of matches uncovered through screening.
All the detection and investigation capabilities from the original SAP Fraud Management solution are included in the rebranded solution, allowing organizations to combine any existing or new detection rules with screening capabilities, creating more comprehensive detection strategies that look at transactional data as well as addresses/names to identify suspicious transactions.
Organizations also have the option to integrate the solution with SAP Predictive Analytics, and use the power of predictive algorithms to identify suspicious patterns and behavior that might not be uncovered by any of the existing rules. SAP Business Integrity Screening provides an out-of-the-box integration with SAP Predictive Analytics that automatically creates new detection rules based on the findings provided by the predictive algorithms.
By expanding the original SAP Fraud Management solution with screening features, we now have a solution that can analyze internal transactions, master data, and external data/lists in a high-data-volume environment.
SAP Business Integrity Screening allows organizations to first screen any entities they might do business with to ensure they don’t deal with any blocked or potentially negative individuals or companies, and then analyze all the relevant transactions from multiple internal and external heterogenous data sources for suspicious activities and trends.