The United States witnessed a massive increase in financial frauds connected to the COVID-19 pandemic. The pandemic rendered a considerable section of the population jobless. Businesses had to shut down due to a lack of capital resulting in substantial economic losses to people. Consequently, many had to turn to the life of crime without legitimate income sources. The pandemic relief efforts by the United States government presented the perfect opportunity for financial scams.
While on the other hand, the wealthy individuals created an intricate web of transactions, accounts, and shell companies to evade tax and launder money. In 2021, the Pandora Papers exposed the secret offshore holdings of more than 130 billionaires from 45 countries. It took nearly two years for the International Consortium of Investigative Journalists (ICIJ) to organize and investigate more than 11.9 million financial records.
Investigating large-scale financial scams and money laundering cases has always put a strain on the resources available to the investigating agencies. The fraudsters have never shied away from using the latest technology to their advantage. However, the investigators are stuck with manually sifting, preparing, and analyzing data. The motivation to accelerate the workflow and boost the productivity of the financial fraud investigators led to the idea for ScanWriter, a data automation solution to simplify fraud investigators’ jobs.
Benjamin Chou, Founder of Personable Inc. and a Certified Public Accountant (CPA), understands the horrors of dealing with thousands of pages of financial records. Benjamin is passionate about providing solutions for curbing financial crimes. He believes that ‘Human brains are wired to process visual information faster than text. As a result, automated data visualization makes it easy to comprehend complex financial information in a fraction of the time taken manually.’. With this vision, Personable Inc. developed ScanWriter to convert data from any document in Excel and provide dynamic data visualization with Microsoft Power Business Intelligence (BI) while tracking money trails.
The state and federal government departments across the United States are using ScanWriter to fasten the investigation of each case and clear the backlog of cases. Innovation and technology have to be at the heart of financial fraud investigations to beat the fraudsters at their game. Companies like Personable Inc. are disrupting the traditional investigation methods by providing state-of-the-art technology in keeping with modern times.
Media Contact
Company Name: Personable
Contact Person: Nitesh Gupta
Email: Send Email
Country: United States
Website: https://scanwriter.personable.com/
