Tag Archives: fraudsters

Is fraud too big to handle?


Representatives from property and casualty insurer CNA, Los Angeles County and health systems consultant OptumInsight painted a bleak picture about fraud in their industries. Numbers like $30 billion were suggested, and that was just insurance fraud.

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One step ahead of fraudsters

Insider fraud

Today’s fraudsters always seem to be one step ahead of investigators, so John York, Doris Wong and Dan Zaratsian from SAS wrote a SAS Global Forum paper to show that fraud investigators CAN get the upper hand. In this post, you get the paper and additional information from John York in a video interview.

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Fraudsters don’t worry about privacy, why should we?

Ellen Joyner Robinson

In today’s world of cybersecurity threats, fraudsters use social media to gather personal information and target vulnerable places within your organization. The criminals have no boundaries when securing illicit funds and then funneling them through financial institutions disguised as legitimate financial transactions and eventually sending wires to offshore accounts.

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Fraud detection acid test

Fraud Detection Acid Test

Fraud never sleeps. Everyday, fraudsters relentlessly chip away at your profit margins. This represents an unacceptable source of business risk that can be combatted with a solid analytics framework, but how do you measure a return on investment of losses you haven’t incurred or losses you’ll mitigate with the new system?


Remote banking is hot, fraud is not

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

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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Choosing a hybrid approach to fight fraud more effectively

SAS Fraud Network Analysis

A hybrid approach identifies associations between various accounts and integrates that information with the traditional rules and analytics to better score risk, prioritize alerts, reduce false positives, increasing the efficiency of investigators and reducing fraud losses. Dan Barta describes network analysis and says you can use either the top down or bottom up approach. Which approach are you using?

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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.

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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.

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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.

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