• Automated monitoring: Continuous monitoring is typically automated, using software tools to analyze large amounts of data in real-time. This allows for more efficient and effective fraud detection.

• Customizable rules: The monitoring software can be customized to specific business processes, transactions, and risk profiles, allowing for more targeted monitoring.

• Real-time alerts: When the monitoring software detects any suspicious activity, it generates real-time alerts to the relevant personnel, who can then investigate further.

• Historical analysis: Continuous monitoring also involves analyzing historical data to identify any patterns or trends that may indicate fraud.

• Audit trails: All monitoring activity is logged and recorded, creating an audit trail that can be used for investigations or compliance purposes.

By implementing continuous monitoring for fraud prevention, organizations can reduce their risk of fraud and minimize the financial and reputational damage that can result from fraud incidents.