 |
| |
|
|
|
|
SAS® Fraud Framework for Banking
Fraud is an explosive problem in the banking and financial services realm, and the rapid growth of fraudulent activity is a testament to how difficult fraud is to detect and prevent … a fact that criminals take full advantage of, morphing and changing tactics constantly to avoid detection.
Backed by more than three decades of experience in banking and financial services, SAS can help you stop fraud in its tracks.
Components of the SAS® Fraud Framework for Banking
The SAS Fraud Framework for Banking provides a technology infrastructure for preventing, detecting and managing financial crimes across the various lines of business within today's banks. The framework includes components for:
Detection and Alert Generation
Systematic detect suspicious activity in these areas:
- Anti-Money Laundering. SAS offers a proven methodology available via distinct solution offerings to fit the anti-money laundering needs of different financial institutions.
- Credit and Debit Card Fraud. SAS offers the only solution on the market that scores 100 percent of all card transactions – purchase, payment and nonmonetary – in real time at the POS to better protect your customers and to reduce fraud losses.
- First-Party Fraud. SAS offers a solution for detecting and preventing organized network fraud, with the unique ability to visualize customer data networks and actually see previously hidden connections and relationships.
|
Alert Management
SAS offers alert management capabilities that enable you to:
- Assemble alerts from multiple monitoring systems, associate them with common accounts or customers and provide investigators with a more complete perspective on the risk of a particular account or individual.
- Perform additional tasks, including:
- Risk score calculation. Each alert generated is assigned a risk score based on the specific characteristics of the activity.
- Alert prioritization. Risk scores enable investigators to prioritize higher-risk activities, which means greater efficiency, increased detection rates and reduced losses.
- Work assignment. Organizations can appoint automated alert assignments to various investigators or analysts based on rules and requirements set by the user.
|
Social Network Analysis
With the SAS Social Network Analysis solution, you can:
- Uncovers previously hidden linkages that might otherwise escape detection.
- Detect and prevent fraud by going beyond individual and account views to analyze all related activities and relationships at a network dimension.
Read the SAS Social Network Analysis product brief for banking. (PDF)
Case Management
Case management capabilities from SAS let you:
- Systematically facilitate investigations and capture and display all information pertinent to a case.
- Store information regarding fraudulent activity, including interview notes and evidence needed for criminal or civil prosecution, restitution and collections.
- Access information on your organization's overall fraud exposure, including losses due to fraud as well as fraud detected or prevented.
- Facilitate assignment of cases to investigators.
- Configure workflows for the management and resolution of cases.
How the SAS® Fraud Framework for Banking Is Different
No other fraud solution provides the same level of detection, automation, ease of use and ROI for organized fraud. The SAS Fraud Framework for Banking:
- Provides enhanced fraud detection and greater insight into managing Suspicious Activity Reports (SARs).
- Improves operational efficiency through decreased fraud losses.
- Helps prevent subsequent losses by properly identifying and classifying fraud losses.
- Can be applied to many types of bank fraud, including: internal, first-party, third-party, wire, checking, payments, cards, ATM, mortgage and teller.
- Gives banks better and quicker insight into their fraud exposure and the steps they can take to reduce their risk through integrated, automated processes and controls.
|
|
Looking for more information on fraud management?
Ready to put THE POWER TO KNOW® to work for you?
- Contact your local SAS office or call us toll free at 1-800-727-0025 (U.S. and Canada).
- Contact SAS for pricing information and to learn more about our products and solutions.
|
|
|
|
|
|
Industries
Aerospace
