Updated On
March 31, 2021
de Volksbank
fraud investigations case study
Recently, we sat down with Frank van Dam, Head of Compliance, BehaviourEmployee Integrity and Crime, at de Volksbank, to get a better understanding of how the ForensicCloud solution has helped the leading bank combat financial crime.  The following is de Volksbank, in their own words.

Why BusinessForensics?

V de Volksbank is one of the four major banks in The Netherlands.  They provide banking and mortgage products to consumers and also operate the brands:  RegioBank, SNS Bank, ASN Bank, and BLG WonenWith more than three million customers, de Volksbank could have chosen any vendor to get the job done — instead, they looked to the experience, flexibility, and effectiveness of the BusinessForensics team, and the ForensicCloud solution. 

Prior to choosing BusinessForensics, de Volksbank was using Friss.  By the end of 2019, the team at de Volksbank reached out to BusinessForensics for a better solution 

Over the next three months, BusinessForensics and de Volksbank worked together to craft the perfect ForensicCloud set up to help de Volksbank identify and implement an investigations platform to investigate and register all fraud and integrity risks. 

In their own words:  Top reasons de Volksbank chose BusinessForensics 

  1. The design of the product. It is designed for its purpose. The process is pre-designed from their experiences in the field of fraud. We can profit form that.  
  2. The service they provide and the possibilities to adapt to new legislation, modus operandi, and business needs.  
  3. When it came to budget discussions, BusinessForensics provided us with more flexibility. Their cooperation and support to see what was possible, within our allocated budget, helped us feel comfortable moving forward with their team. 

The design of the product. It is designed for its purpose. The process is pre-designed from their experiences in the field of fraud. We can profit from that.”

Frank van Dam

How has BusinessForensics helped de Volksbank connect important data?

Having the right structured data available is critical to our investigations, and extraordinarily useful in our process.  BusinessForensics has played an important role in helping us acquire the relevant data we need for our investigations.  This means, the information we regularly use — like CoC and other corporate information — will all be at our fingertips, as we continue forward with ForensicCloud As we grow with the platform, our goal is to connect even more data.  

The more data you have at your disposal, the better.

To which third-party agencies do you report?

We use the ForensicCloud Special Investigations software to report to the CIS and BKR databases.

How does your team work on anti-fraud incidents?

There is a first and second line, besides the Cyber Defense Center. Within this structure, multi-disciplinary teams also operateThe first line relates to payment fraud, with some direct contact to our customers. The second line investigates trends in modus operandi and new legislation, to provide relevant actions to mitigate and integrate within our process. Finally, the Cyber Defense Center works on internal and external cyberrelated issues.

What types of fraud incidents do you register in the ForensicCloud system?

We register all kinds of fraud and integrity related issues. Cybercrime, police requests, identity fraud — we register them all. We can handle these cases from the beginning, all the way through to the final step in the process. ForensicCloud enables us to have a flexible configuration, so if there is any change in modus operandi, we can directly respond in the workflow settings. On average, we add several thousand cases into the BusinessForensics software platform each year.

How do your internal employees use ForensicCloud?  

We have multiple teams with employees who use — or have access to — ForensicCloud.  Most of our employees utilize all the features provided to us in the ForensicCloud solution, within their respective administrative and access management rights related to their jobs. 

We also have employees with “light” access, which simply means they only need limited access to certain files to ensure the investigation continues along smoothly, without delays. BusinessForensics has been great in supporting the type of framework our bank needs to support our employees in their daily work

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