NOFRAUD
NOFRAUD (NOFRAUD Latam LLC) sells The Fraud Explorer, an agent-based anti-fraud platform that captures employee behavioral data in real time and uses proprietary fraud-triangle algorithms plus a custom-trained FraudGPT LLM to detect, prevent, and forecast internal fraud for enterprise corporate clients across Latin America, delivered via subscription and managed alert-review services.
- Company typePrivate
- Founded2014
- HeadquartersMedellín, Colombia
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What NOFRAUD does
NOFRAUD (legally NOFRAUD Latam LLC, an Illinois-domiciled private LLC founded in 2014) develops and sells The Fraud Explorer, an agent-based anti-fraud software platform designed to forecast, prevent, and detect corruption, internal fraud, and anti-ethical activities in corporate environments. The product uses a client-server architecture in which remote agents installed on employee devices capture behavioral data at the point of generation, analogous to an antivirus. Captured data is processed through a stack of proprietary algorithms — a Fraud Triangle Algorithm grounded in Donald Cressey's theory with modern metamodel extensions, plus privacy-based and sentiment-based algorithms — and analyzed further by FraudGPT, a generative AI (LLM) trained internally by NOFRAUD to provide reasoning, explanations, risk scoring, sentiment, and topic identification. A Responsible Alerting System routes generated alerts through a certified human review team before delivery to clients, including bi-weekly alert reports and monthly virtual meetings.
NOFRAUD targets enterprise corporate clients across Latin America from its US headquarters in Chicago (with a Medellín presence), covering fraud categories that include corruption (conflicts of interest, bribes, illegal gifts), asset misappropriation (theft, asset extraction), financial-statement manipulation, and organizational abuse (waste, toxic work environments). The revenue model combines recurring subscriptions (a 3-month Iniciación tier and a 12-month Continuidad tier, with cloud or on-premise deployment), managed services for alert review, and a monthly REST API offering for FraudGPT ("Fraud Triangle as a Service"). Distribution is via direct enterprise field sales requiring corporate-email contact, and pricing is quote-based rather than publicly disclosed.
The company operates with a small team of 1–10 employees, holds an annual SOC 2 Type 2 attestation, and has received external recognition from the ACFE (in Fraud Magazine) and the World Compliance Association (Madrid). No funding rounds, named customers, or revenue figures are disclosed in the available source data.
NOFRAUD firmographics
Firmographics- Name
- NOFRAUD
- Legal name
- NOFRAUD Latam LLC
- Website
- https://thefraudexplorer.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- NOFRAUD (NOFRAUD Latam LLC) sells The Fraud Explorer, an agent-based anti-fraud platform that captures employee behavioral data in real time and uses proprietary fraud-triangle algorithms plus a custom-trained FraudGPT LLM to detect, prevent, and forecast internal fraud for enterprise corporate clients across Latin America, delivered via subscription and managed alert-review services.
- Ownership category
- akta.pro rank
NOFRAUD industry classification
Industry- Product category
- Anti-Fraud Software
- NAICS
- Software Publishers (5132), Software Publishers (513210)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- Risk Scoring, Fraud & Anomaly Detection (HDAAAHAD)
- akta.pro secondary industry
- Trust, Safety & Risk Support (Fraud, Abuse, Policy Enforcement) (BPAAABAI)
Keywords
Where NOFRAUD is headquartered
LocationHeadquarters
- HQ city
- Medellín
- HQ country
- Colombia
- HQ region
- Latin America
Offices1 record
Markets served
NOFRAUD business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales
Revenue model
- The Fraud Explorer Subscription (3-month): Three-month subscription including cloud platform, personalization and support, anti-fraud accompaniment, real-time alerting, and Fraud Triangle Algorithm (FTA) with FraudGPT access.
- The Fraud Explorer Subscription (12-month): Twelve-month subscription including cloud or on-premise platform deployment with continued support and services.
- FraudGPT API (Fraud Triangle as a Service): API REST access for LLM usage including FTA insights delivery, LLM explanations, risk/sentiment/topic analysis, and privacy engine capabilities.
- Managed Services - Alert Review: Client delegates initial alert review function while NOFRAUD team performs personalized analysis. Includes daily review of alerts by certified personnel.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | 3-month Initiación subscription |
| Subscription | Annual | 12-month Continuidad subscription |
| Subscription | Monthly | FraudGPT - API Access (Fraud Triangle as a Service) |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
NOFRAUD product offering
Product offeringCore offering
NOFRAUD develops and sells The Fraud Explorer, an AI-based anti-fraud software platform that forecasts, prevents, and detects corporate fraud, corruption, and anti-ethical activities. The platform uses an agent-based client-server architecture (functioning like an antivirus) to capture behavioral data in real-time from corporate devices, combining a proprietary Fraud Triangle Algorithm (FTA) based on Donald Cressey's theory with FraudGPT, a custom-trained generative AI for reasoning and analysis. The offering is delivered as subscriptions (3-month or 12-month) or as a standalone API service (FraudGPT - Fraud Triangle as a Service), with managed alert-review services included.
Product overview
NOFRAUD offers a unified anti-fraud platform centered on The Fraud Explorer, an agent-based software solution that forecasts, prevents, and detects corporate fraud. The platform operates on a client-server architecture with agents installed on corporate devices, combining proprietary fraud triangle algorithms with generative AI. FraudGPT is integrated as an LLM-powered reasoning module within the platform, providing natural language insights and API access for automated queries. The Behavioral Motor serves as the detection engine, processing data captured by agents to identify anti-ethical behaviors. The offering includes responsible alerting services with human analyst review of alerts before delivery.
Differentiator
Problem solved
Functional benefit
Brands
- The Fraud Explorer: Anti-fraud software that forecasts, prevents, and detects corruption, internal fraud, and anti-ethical activities in corporate environments. Based on fraud triangle theory and behavioral analysis.
- FraudGPT
Products and services
- The Fraud Explorer Anti-fraud software that forecasts, prevents, and detects corruption, internal fraud, and anti-ethical activities in corporate environments. Uses an agent-based client-server architecture that captures behavioral data in real-time from corporate devices, combining fraud triangle algorithms with generative AI for analysis and reasoning. Sold as a subscription to corporate organizations in Latin America.
- FraudGPT A proprietary large language model (LLM) service offered as Fraud Triangle as a Service. Provides REST API access for fraud analysis queries, delivering FTA insights, LLM explanations, risk analysis, sentiment detection, topic extraction, and a privacy engine. Available standalone to enterprises that require LLM-driven fraud reasoning capabilities.
Quantifiable outcome
- Detects over 100,000 anti-ethical conducts under different themes
Companies that use NOFRAUD
Customer profileSegments1 record
Ideal customer profiles1 record
NOFRAUD technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability7 records
Feature7 records
NOFRAUD partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- SOC 2 AuditcoreNOFRAUD undergoes annual SOC 2 audits. Their solutions have a current SOC 2 attestation report available for verification, demonstrating compliance with security standards.
Scale indicators2 records
Recent moves6 records
Expansion highlights4 records
NOFRAUD competitors and assessment
Company assessmentEmerging players
- Behavox: Behavox applies AI and NLP to employee communications and behavior for compliance and conduct risk surveillance in financial services. It addresses a similar behavioral-fraud problem to NOFRAUD but from a financial-services regulatory angle.
- EQS Integrity Line: EQS Integrity Line provides whistleblowing, ethics hotlines, and case management used for fraud and misconduct investigations. It addresses the same 'detect anti-ethical conduct' problem as NOFRAUD, though via reactive reporting rather than proactive agent-based monitoring.
Direct peers
- Veriato: Veriato (formerly SpectorSoft) sells insider threat detection and user behavior analytics software that captures employee activity on corporate devices. Like NOFRAUD, it focuses on behavioral signals predictive of fraud, IP theft, and misconduct rather than external cyber threats.
- Teramind: Teramind provides employee monitoring, insider threat detection, and behavioral analytics software with agent-based and endpoint data capture. It directly overlaps with NOFRAUD's The Fraud Explorer on detecting fraud and unethical employee behavior in corporate environments.
- Hubstaff: Hubstaff provides time tracking and workforce monitoring with optional employee activity monitoring. It shares NOFRAUD's agent-based architecture for capturing behavioral data from corporate endpoints and serves similar compliance and oversight use cases.
- ActivTrak: ActivTrak is a workforce analytics and employee monitoring platform that uses behavioral data from corporate devices to surface productivity and risk patterns. It overlaps with NOFRAUD's agent-based behavioral capture and analytics-driven approach to workplace risk.
Broad incumbents
- Digilog (Diligent / Galvanize): Diligent (owner of Galvanize/ACL) provides GRC, audit, and compliance analytics used for fraud risk management by large corporations. It overlaps with NOFRAUD at the compliance and ethics layer that corporate boards use to oversee fraud programs.
- Palantir Technologies: Palantir Foundry and Gotham support large-scale fraud and risk analytics for governments and enterprises. While not a direct SMB competitor, Palantir could displace NOFRAUD at large LatAm conglomerates by integrating behavioral fraud detection into a broader data platform.
- SAS Fraud Management: SAS offers enterprise fraud analytics platforms widely used by banks and insurers for transaction and behavioral fraud detection. It competes with NOFRAUD at large enterprise buyers in LatAm who may opt to consolidate fraud tooling with an established analytics vendor.
Others
- ManageEngine ADAudit Plus: ManageEngine provides user behavior analytics and insider threat detection tools widely used by IT security teams. It is adjacent rather than directly overlapping with NOFRAUD's ethics-focused fraud triangle framing, but addresses similar buyer pain around employee risk.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
NOFRAUD social profiles
Digital presenceNOFRAUD compliance and trust
Trust signalCompliance1 record
NOFRAUD financial estimates
Financial estimateRevenue estimate
Valuation estimate
NOFRAUD leadership team
Management profileNumber of profiles
NOFRAUD funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NOFRAUD M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NOFRAUD
What does NOFRAUD do?
NOFRAUD develops and sells The Fraud Explorer, an AI-based anti-fraud software platform that forecasts, prevents, and detects corporate fraud, corruption, and anti-ethical activities. The platform uses an agent-based client-server architecture (functioning like an antivirus) to capture behavioral data in real-time from corporate devices, combining a proprietary Fraud Triangle Algorithm (FTA) based on Donald Cressey's theory with FraudGPT, a custom-trained generative AI for reasoning and analysis. The offering is delivered as subscriptions (3-month or 12-month) or as a standalone API service (FraudGPT - Fraud Triangle as a Service), with managed alert-review services included.
Is NOFRAUD a public or private company?
NOFRAUD is a private company. It is classified as unknown and is currently operating.
When was NOFRAUD founded?
NOFRAUD was founded in 2014. It employs 1 to 10 people.
Where is NOFRAUD based?
NOFRAUD is headquartered in Medellín, Colombia, in the Latin America region.
How does NOFRAUD make money?
Four revenue lines are on record. The Fraud Explorer Subscription (3-month) is the primary driver. The others are the Fraud Explorer Subscription (12-month), fraudGPT API (Fraud Triangle as a Service) and managed Services - Alert Review.
Who are NOFRAUD's main competitors?
Emerging players on record are Behavox and EQS Integrity Line. Direct peers are Veriato, Teramind, Hubstaff and ActivTrak. Broad incumbents are Digilog (Diligent / Galvanize), Palantir Technologies and SAS Fraud Management. ManageEngine ADAudit Plus is listed as an others.
Does NOFRAUD have an API?
Yes. FraudGPT offers a REST API for queries, delivering FTA (Fraud Triangle Analysis) insights, LLM explanations, and privacy engine results. The API provides risk analysis, sentiment detection, and topic extraction.
What industry is NOFRAUD in?
NOFRAUD's product category is Anti-Fraud Software. Its primary akta.pro industry code is HDAAAHAD, Risk Scoring, Fraud & Anomaly Detection, with a secondary code of BPAAABAI, Trust, Safety & Risk Support (Fraud, Abuse, Policy Enforcement). Its NAICS code is 5132 and its SIC code is 7372.