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.
Terrorist and criminal organizations continue to raise funds through a wide range of criminal activities, and their financing efforts often prey on vulnerable government programs. This case study of a Hammoud terror cell shows how a hybrid analytic approach empowers government agencies and law enforcement to connect the dots.
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?
The growing threat of enterprise-class fraud
Leader’s integrity tied to risk management culture
Combating blood money with big data
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