Loss Prevention Services

What EY can do for you

EY professionals adopt a consultative approach that focuses on prevention, detection and mitigation measures from business, operation and technology perspectives. The broad range of EY Loss Prevention Services comprises: profiling fraud and loss schemes; using artificial intelligence (AI) and analytics technologies for process and control evaluation; implementing workflows and escalation procedures; and developing risk monitoring control measures, loss calculations, return on investment tracking, and reporting and remediation procedures.

EY Loss Prevention Services are supported by EY Virtual Analytics Infrastructure (EY Virtual), a microservices-based AI and forensic data analytics platform that is designed to support the needs of legal and compliance teams.

Access to data anywhere and anytime

EY Virtual is specifically designed to ingest a wide range of data sources, structured and unstructured, to help companies gain a consolidated view of their risk environment instead of resorting to sampling. The EY data-centric approach does not view a certain level of data quality as a prerequisite for a loss prevention project. Instead, data quality is viewed as a potential cause of loss that needs to be addressed in the same way as other losses.

Interactive and integrated case management capabilities

Through EY Virtual’s built-in interactive case management tool, investigators can manage alerts and drill into specific risk areas in real time. Users also have the ability to automate certain escalation procedures using workflow tools. The case manager can integrate a wide range of data sources so that information needed for the investigation is available at one central location.

Visual executive dashboard and robust reporting

The EY Virtual executive dashboard helps operational leaders monitor the performance of multiple locations in one consolidated view in real time. Custom reports can be programmed using a robust set of easy-to-use configuration features.

Enhanced, continuous risk assessments

At the core of the EY offering is a library of proprietary, sector-specific antifraud and loss schemes developed from historical incidents. EY teams will also work with you to develop custom approaches based on your unique business model and risk profile. EY teams translate each scheme into machine-learning scoring models. The results are used to detect fraud and loss risks, and determine appropriate remediation efforts. EY teams also monitor remediation activities to drive continual improvement of risk scoring.

Multiple deployment options

Through managed offerings or preferred provider arrangements, EY teams forge long-term relationships with organizations and gain deep knowledge of their risks and potential for recovery. Effective loss prevention programs are developed with remediation measures that leverage both advanced technologies and nontechnical approaches.

Sector focus

EY professionals support industry sectors worldwide with a network of professionals. EY Loss Prevention Services industry teams are tailored to suit your particular needs while taking into account the main factors influencing your business.