Watchful Eye Software

General information

The Watchful Eye Software Fraud Detection product concept was born out of being a victim of employee fraud at a past employer.

At the time we did not realise the prevalence of employee fraud but it is estimated that 5% of companies revenues are lost to fraud globally. In our example, the fraudulent activity was easy to trace once identified but that was after the loss was incurred. There was not such an easy way to get visibility as a pre-warning of the fraudulent activity. The loss of company funds was significant and inspired me to provide a way for other companies to get visibility of suspicious activity so it could be proactively investigated in an effort to reduce the risk of employee fraud and loss of company funds.

According the Association of Certified Fraud Examiners (ACFE) small businesses bear the brunt of fraud losses disproportionately with 28% higher median fraud losses for organisations with less than 100 employees so we decided to focus our product to support these businesses.

The ‘Why’ we exist is: to stop employees stealing from employers, our customers!