Neotas Partners with Graydon UK to Combat Commercial Fraud
Neotas has recently partnered with Graydon UK, a leading firm that provides key insights, data, analysis, and solutions for businesses.
Graydon is one of one Europe’s leading providers of business insights and teaming with Neotas, we are combining our due diligence and their data-driven knowledge to combat the ever-increasing commercial fraud.
Commercial fraud is at its peak since the 2008 financial crisis, and many shell companies and fraudulent businesses are using Covid-19 as an opportunity to thrive. This means many businesses are suffering, and the average annual loss due to fraud is estimated at around £106 billion.
As a due diligence company, we understand that for companies to flourish, they need to engage in new opportunities. Yet these opportunities come with commercial risk that can be damaging, particularly to new businesses.
Most research is conducted on the indexed web, which is made up of more than six billion web pages. Any research conducted by a business independently is likely to cover only 4-6% of the data available. What information can be uncovered in the other 96%?
Combining Neotas’s in-depth online due diligence capabilities and Graydon UK’s data insight techniques, we are providing a cost-effective solution for businesses looking to grow with new opportunities. Our collaborative intelligence, team of analysts, and advanced technology mean better risk management, deeper insight, and comprehensive tools to help reduce commercial fraud and trade credit risk.
This comes at a time when companies are at more risk than ever. What previously might have taken several weeks has now been accelerated by an approximate factor of 15. This means we can provide businesses with deep forensic insight and improved due diligence at record speed and reliability, with zero false positives.
We are excited to move ahead with this partnership and deliver critical data to businesses of all sizes to reduce commercial fraud and trade credit risk. Here’s what our CEO, Vipul Mishra, had to say:
“We are all too aware of the level of commercial financial fraud that exists in global business operations. We regularly uncover serious breaches in our reports. We are really glad to be working with Graydon to help battle commercial fraud in the UK.”