Tag Archives: fraud detection

Ten reasons to invest in an automated fraud detection system

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.

Also tagged , , |

The future of fraud investigations


Today, analytics technologies that identify fraudulent activity are changing the way that fraud investigations are handled. Read what Allstate and CNA have to say about the future of fraud investigations.

Also tagged , |

Insurers tackle thorny issues in fraud detection and prevention

Insurance Fraud Panel PBLS

The Insurance Information Institute estimates that 10 percent of all property and casualty claims are fraudulent. Investigating suspicious claims after they are paid makes it so much harder for insurers to stop the fraudsters. In this post, Rachel Alt-Simmons reports on a panel discussion between Allstate and CNA, insurers that are now using data-driven decision making to detect and prevent fraud.

Also tagged , , , , |

FFIEC Guidance: Five layers for fraud detection and prevention

David Stewart

One of the challenges facing financial institutions is that their fraud detection and prevention systems have been siloed by products and channels. They use one system for credit card detection, another for check fraud and yet another for online banking. The FFIEC recently updated guidance on customer authentication and layered security.

Also tagged , , , |

New analytical approaches, less fraud

Ellen Joyner Robinson

Each year, cybercriminals steal as much as US$1B from small and mid-sized bank accounts in the US and Europe. Read about matching their sophistication with a new, hybrid strategy that incorporates new sources of data, real-time analytics and collaborations.

Also tagged , , , , |

Predictive analytics: Top five data excuses in insurance fraud detection

Basel III discussions

Given the increase in fraudulent claims, it is imperative for insurance companies to leverage technology as a key enabler to combat crime-ring-based fraud. Read this article to learn why predictive analysis is important for insurance fraud protection.

Also tagged , , , |

More ACH payments, more chances for fraud

David Stewart

While ACH payments were once considered low risk, they have attracted the attention of criminals who use the high volume and relative anonymity of such transactions to commit fraud on a growing scale. Read more to find out how to reduce fraud losses.

Also tagged , , |

Stop fraudsters before they strike

Satish Lalchand

Tune in to this webinar to hear Satish Lalchand, Deloitte Financial Advisory Services, and Jon Lemon, SAS, discuss how to improve your information credibility, enhance the effectiveness of your investigations and demonstrate financial accountability in a timely and effective manner.

Also tagged |

How criminal enterprises out-network financial institutions

Chris Swecker

Boundless networking opportunities and a low risk of prosecution have led to increasing numbers of fraudsters. According to expert Chris Swecker, this trend can’t be stopped by law enforcement. Read his article and watch his webinar to learn what you can do.

Also tagged , , , , |