Intelligence Against Fraud

Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Marta Cadavid, Founder of NoFraud Latam LLC, located in Chicago, IL, USA.

What's your business, and who are your customers?

In my company, NoFraud Latam, we have taken on the challenge of transforming sentiment analysis to manage the risks in organizations. Through natural language processing, machine learning, and artificial intelligence, we have developed The Fraud Explorer to predict, prevent and detect dishonest behaviors such as fraud, abuse, waste, and corruption with key differential factors that help to identify risks in human communications.

Today, we help corporations build value again through predicting, preventing, and detecting undesirable conduct at the workplace. We work with clients in different industries such as financial services, retail, energy, aviation, real estate, waste management, agriculture, and infrastructure, which gives us the opportunity to learn more about deviant human behavior. Once the Fraud Explorer is deployed, the company opens something I call the Pandora's Box because all vulnerabilities and internal control problems are exposed, including those that never were assessed. Organizations that do not identify these types of risks and act proactively will have monetary losses and reputational problems.

Tell us about yourself

I am a Fraud Fighter!

My main goal is to use my fraud-fighting skills to promote social change and make the world a more trustworthy and socially cooperative place.
I have extensive experience in accounting, financial management, and auditing in different kinds of industries. I have improved my career through the study and work of risk management. My educational background includes Certified Anti-Money Laundering Specialist (CAMS), Certified Fraud Examiner (CFE), AML Anti-Money Laundering Certified Associate (AMLCA), and Certified Human Trafficking Investigator (CHTI), among other ones.

My motivations are based on giving back, leaving a great legacy, and inspiring people to think about ethics as a lifestyle. Since fraud is a devastating crime, my deepest desire is to educate women to avoid scammers in their lives or help them to recover their dignity. Moreover, I have been assisting companies in implementing strategies to combat fraud and corporate abuse at all levels.

I am convinced that knowledge is the only promoter of long-term wealth, and education is the first generator of peace. I look for opportunities to promote values, ethics, and integrity as the best resources to prevent any unethical behavior in any business or personal sphere.

I am a successful leader who exhibits strong qualities such as integrity, influence, courage, and empathy to face the most complex situations related to misconduct that affect the value of the corporations. Likewise, I maximize the efforts of others to achieve goals by giving the best and learning from the worst.

My question was, how can we anticipate or be one step ahead of the employee's misbehaviors?

What's your biggest accomplishment as a business owner?

We started to work on proactivity as an auditor and fraud investigator. We know fraud, corruption, waste, corporate abuse, and other misconducts destroy the organization's value; in other words, they are the silent enemy that kills the companies.

Our question was, how can we anticipate or be one step ahead of the employees' misbehaviors?

We were behind and beyond unethical behaviors using the fraud triangle theory created by Donald Cressey to build a holistic methodology based on people, processes, and technology. We put together the fraud triangle theory with AI, data analytics, and semantics to capture what a person writes and talks about when is thinking about something wrong in the workplace. We created The Fraud Explorer.

What's one of the hardest things that come with being a business owner?

Understanding human behavior is the basis for predicting dishonest and criminal conduct. Knowing the culture in each country is the hardest part of our business. Fortunately, we count on an extraordinary multicultural team to overcome any challenges that may affect our performance with the clients.

What are the top tips you'd give to anyone looking to start, run and grow a business today?

Passion, discipline, determination.
Growing a business is a full-time job. If you want results, work harder.
Save you money for the bad times. You will be on a financial roller coaster until the company has a stable income.

To be the best, you must have the ability to handle the worst. We know employees can be a great asset and the worst enemy. Today we need to think the unthinkable, break the mold and leave the comfort zone to understand the human behavior to rebuild value in the organizations. We need to admit we need help to optimize the resources, reduce losses and attract the right talent. That is why the Fraud Explorer is the methodology you can use to rewrite risk management.

Where can people find you and your business?

Website: https://www.nofraud.la/
LinkedIn: https://bit.ly/3xzIYi2

If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.

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