Vigilance™ - The Future of Powerful Fraud Prevention | Company Watch

Fraud is a persistent threat in 2024 and criminals are becoming ever more sophisticated.  

Are you confident your business can withstand the pressure? We’re always innovating to arm you with the best tools to stay a step ahead of the competition. 

We’ve created game-changing early warning technology to combat fraud. Vigilance™ is a unique tool that searches for suspicious company activity. 

Let’s dive into how Vigilance can protect your business and tackle fraud head-on:

Fighting back against fraud 

We know how damaging the impact of fraud can be on your business. A 2023 report revealed that the yearly cost of fraud to UK businesses is a staggering £157 billion. To tackle this rampant criminal activity, the government passed the ECCT Act. This is a step in the right direction, but implementing it will take time and it will not eradicate the problem.

You need to be proactive to protect your business whilst fraud remains a prevalent issue:

• UK fraud doubled in 2023
• Cases over £50 million increased by 60%
• It is estimated that up to 20% of the data registered on Companies House maybe false.
• One survey revealed that 93% of SMEs are unable to recover more than half of fraud losses
• 63% of businesses that experienced fraud in 2023 said the financial impact was moderate or severe 

We developed Vigilance™ to fight back against fraudsters and provide you with unparalleled transparency into company risk.

Take back control with Vigilance™

Fraudsters are always ahead of the game. Vigilance™ helps to level the playing field. It acts as an early warning system to alert you to potential fraud and test the accuracy of your data. It can help you:

• Make better lending decisions
• Eliminate potential fraud earlier
• Give you confidence when extending credit 
• Identify new business opportunities

Our years of research and expertise helped create this innovative product. We also collaborated with industry experts and customers to leave no stone unturned. Some of our customers identified their biggest challenges in the fight against fraud:

• Lack of time or resources to tackle vast data 
• Fraudsters are becoming increasingly sophisticated and are always one step ahead
• Not confident they can trust the data they have to mitigate growing risks 

Vigilance™ helps reduce risks and prevent losses so you can get back to business. 

How does it work?

Vigilance™ uses hundreds of thousands of data points from various public sources to corroborate company information. This includes a wealth of public information from Companies House, Registry Trust, HMRC, Gov.uk and the Stationary Office. This innovative system seamlessly integrates with our online platform. It uses advanced anomaly detection algorithms to identify potential discrepancies and irregularities.  

In this latest release, we’ve currently identified 15 abnormal data behaviours, grouped into 5 signal categories: Financial, Statistical, Behavioural, Operational and Phoenixism. The data behaviours are all factual and are provided with supporting information within the tool. If any of these behaviours are triggered on our system, we would recommend to investigate further. 

Vigilance™ is a powerful weapon to have in your arsenal in the fight against fraud. It’s designed to help:

• Businesses of all sizes looking to mitigate fraud risk
• Financial institutions conducting due diligence
• Legal professionals investigating potential wrongdoing
• Anyone concerned about the financial health and legitimacy of a company

Upgrade your business with Vigilance™

There are so many reasons to choose Vigilance:

Protect your business 

Safeguard your business  against financial losses and reputational damage by detecting suspicious activity early.

Make smarter decisions

Harness the power of data-driven insights to make informed business decisions. 

Save time and resources

Vigilance automates time-intensive data analysis and frees up resources for higher-value tasks.

Easy to use dashboard

Our dashboard flags any of the 5 categories where suspicious behaviour is detected, then gives more detail about the specific behaviour.

Unparalleled transparency

Vigilance scrutinises company filings with unparalleled precision giving you a deeper understanding of your business landscape. 

Supercharge fraud prevention with Company Watch 

Ready to reduce your risk and increase your confidence? We’ve only touched on the power of this ground-breaking fraud detection tool. 

For a free trial or a detailed demonstration, please get in touch today.