The Knowledge Exchange / Risk Management / Fraud & Financial Crimes

Fraud & Financial Crimes

Ellen Joyner Robinson

Are organized fraudsters winning the big data battle?

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Tuesday, May 22nd, 2012

Organized fraudsters love the big data battle because – for many organizations – siloed data and too much data make finding fraud as difficult as finding the same needle in a new haystack. Ellen Joyner says firms can bring big data and organized fraudsters down to size with a layered analytics approach combined with high-performance computing.

All Fraud & Financial Crimes Stories

Remote banking is hot, fraud is not

By Anna Brown, Editor | Published: May 9, 2012
Derek Wylde, Head of Group Fraud Risk, HSBC

Derek Wylde, Head of Group Fraud Risk, HSBC Group, discusses the latest trends in fraud detection and prevention and the move to mobile banking. What do these trends mean for global banking firms and what can you do to protect your customer in real-time?

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Cross-border no-fault fraud

By James D. Ruotolo, Insurance Fraud, SAS | Published: April 18, 2012
James Ruotolo, Insurance Fraud, SAS

Insurance companies and fraud-fighting agencies in North America are noticing a trend: Fraudsters are now exporting their best practices to our neighbors to the north.The province of Ontario has a mixed no-fault and tort insurance system with superb benefits that fraudsters are capitalizing on. Read this post by James Ruotolo to find out how insures to the north are battling this influx.

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Follow the money

By John A. Cassara, Industry Adviser to SAS Federal LLC | Published: April 9, 2012
Follow the Money

Trade-based money laundering can take many forms, from simple bartering to commodity exchanges. As long as the parties don’t get too greedy, they can go virtually undetected. John Cassara, former intelligence officer and Treasury Department special agent, invented the concept of Trade Transparency Units. Today, he talks about the value of analytics in countering trade-based money laundering.

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Are false positives killing your customer relationships?

By Ellen Joyner-Roberson, Fraud, Financial Crimes, SAS | Published: April 4, 2012
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Today’s credit card customer behavior changes on the dime, so it’s no wonder that the tools for predicting their behavior are having trouble keeping up. Ellen Joyner says that maintaining that delicate balance between avoiding fraud loss and keeping the customer happy can be accomplished with a multi-layered approach. Read her thoughts in this post and the accompanying white paper.

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Data breaches, cyberheists and payments fraud

By Waynette Tubbs, Editor | Published: April 3, 2012
Data breaches, cybercrime or payments fraud

“Because of the relative ease with which this [payment card] data can be transmitted, the underground market can get a great ROI from their endeavors,” says Ron Dormido from Verizon Investigative Services. But 80 percent of data breaches, hacks, and cybercrimes are preventable – that’s according to the 2011 Data Breach Investigations Report. Read Dormido had to say at a recent conference about countering data breaches.

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Ten reasons to invest in an automated fraud detection system

By Dennis Toomey, Senior Solutions Architect at SAS | Published: March 28, 2012
Automated Fraud Detection

Automated fraud detection systems are becoming more common in the insurance industry as the technology improves and benefits become more evident.Dennis Toomey, SAS, says the ‘soft benefits’ are harder to quantify and see, but are just as important. In his post, he points out ten that make the decision to automate easy.

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Zero tolerance on insider fraud

By Waynette Tubbs, Editor | Published: March 20, 2012
Zero tolerance

How do you feel about a zero tolerance policy for insider fraud? Take a look at this example, and then give your thoughts on the dilemma.

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Creating an anti-fraud culture

By Waynette Tubbs, Editor | Published: March 15, 2012
antifraud culture

Jodi Pratt says that the most important element in creating an anti-fraud culture is two-way communication between management and staff.
Read her other tips for creating an environment that bolsters the “good guys” and sends the bad guys in search of a softer target.

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Outing insider fraud

By Waynette Tubbs, Editor | Published: March 14, 2012
Insider fraud

Shirley Inscoe has a depth of knowledgeable about fraud and fraud technologies, so she gave a presentation at BAI Payments Connect Conference & Expo about insider fraud and some of the high-tech and low-tech best practices for combatting it.

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Stopping fraud via partnering

By Waynette Tubbs, Editor | Published: March 13, 2012
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Why is partnering so important? Terry Thornton, Senior Vice President, Fraud Services at Comerica, shared some best practices from a recently published BITS white paper on the topic.

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  • Attending the ACFE Fraud Conference and Exhibition?

    Plan to attend Increasing Investigator Efficiencies

    When: Wed., June 30, 8:30-9:50a.m.
    Where: Orlando, FL
    Featuring: David Stewart and Dan Barta from SAS’ Fraud and Financial Crimes Practice.

    Organized fraud is a growing problem, in large part because it is so hard to detect. In this session, we will show customer examples of how Entity Link analysis improves investigator efficiency by reducing the time spent investigating false-positive alerts and prioritizing events before presenting to investigators. Investigators can now work many times the number of cases and focus on higher-value networks.

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