Anti-fraud

Enin flags companies that have gone through what we define as high-risk events. This allows you to act with extra caution when dealing with such companies.

Recently, we have seen several examples where, in particular, the flag "significant change in accounting for a company without an auditor" has served as an early warning of fraud.

Ensure that the bank account number you have been given actually belongs to the company or person you believe it does. By using account verification through Enin, you reduce the chance of you and your business being defrauded.

With an overview of the company's employment history, you can become suspicious if unusual or drastic changes are detected. The image to the right is taken from Enin's web portal and is for a company that defrauded several lenders. This could potentially have been averted if the employment history had been examined and it was seen that there was only one employee left in the company, namely the managing director.

Enin provides a timeline of current and former stated company purposes. A possible warning sign would be if the company makes a large and sudden change in its stated purpose, potentially in order to mislead a lender. This detailed history not only aids in discovering red flags, but it also lets you dive into the story of the company.

Enin’s network risk model provides an algorithmically generated score calculated by analyzing individuals and companies associated with the relevant company up to three degrees of separation. By using company and individual flags that indicate potential risks of money laundering and/or fraud, each associated company and individual is given a separate score, which is then used to calculate a total score for the relevant company. The final score (network risk) gives the user an indication of the extent to which the relevant company is connected to high-risk individuals and companies.