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Fraud Detection

Fraud is an issue that directly affects the bottom line of every bank. £100 of fraud is not only £100 profit lost, but - assuming a margin of 5% - it's £2,000 of additional goods or services that must be sold to regain that profit.

More worrying still, fraud today is becoming increasingly hard to see and prevent. Today's fraudsters take data from the web, or some information from a dishonest employee, piecing together their fraudulent plans through a network of activities that are becoming much tougher to identify and trace.

That is, of course, unless the bank is using Social Network Analysis developed by SAS.



How SAS Can Help

SAS® Social Network Analysis is a unique and powerful technology designed to detect and prevent fraud by performing detailed analysis on the relationships between individuals, accounts, claims and applications at the network level – in minutes.

Alongside comprehensive reports, dossiers and other standard formats, results are displayed visually in charts and network diagrams, enabling rapid insight.

SAS Social Network Analysis enables banks to:

  • Clearly see and understand fraudulent behaviour – revealing all individuals involved in fraudulent activity, from perpetrators to their associates, and understand their relationships and behaviours
  • Identify more fraud, accurately – through fast, highly accurate analytics, you can handle more fraudulent activities and reduce false positives
  • Tackle current fraud and prevent it in future – detect and investigate existing fraud, and gain a better understanding of emerging threats in order to take preventative action
  • Transform the efficiency of fraud investigations – users of the SAS solution report that each referred case typically takes half to one third of the time usually required for investigation.

Solution

The SAS Social Network Analysis solution offers a range of advanced features:

  • Intuitive network visualisation interface – see and explore networks of individual customers, accounts, products and their networks, and drill down into the details.
  • Advanced, large-scale network analytics – analyse data from within the business and beyond in order to reveal and understand relationships.
  • Advanced profiling engine – score and assess risks from individual customer level to network level, analysing behavioural patterns and revealing hidden relationships.
  • Web-based environment – manage the routing and processing of investigations more effectively.

SAS Social Network Analysis is part of the SAS® Fraud Framework.

 

Ready to learn more?

Call us at 01628 486 933 (UK) or request more information.

 

 

Questions?

 

Webinar Series

Financial Crimes Symposium: An educational, online fraud workshop series