Risk Management Insights
Explore hot topics in risk & fraud
Risk & Fraud
Beyond the very simple definition of risk – the potential for loss – the definition of the word varies widely depending on the industry, and a whole host of other factors. But no matter what business or industry you’re in, it comes down to this: How can you identify and seize opportunities without jeopardizing your organization’s ability to thrive?
Fraud – and financial crime in general – is one of the biggest risks that many organizations face. And there’s a lot of talk about bringing together risk and fraud practices. But regardless of how your organization handles these issues today or in the future, there’s much to consider. Join us as we explore the latest buzz on timely risk and fraud topics.
Latest Insights & Articles
- Analytics: A must-have tool for leading the fight on prescription and illicit drug addictionStates and MFCUs now have the analytics tools they need to change the trajectory of the opioid crisis by analyzing data and predicting trouble spots – whether in patients, prescribers, distributors or manufacturers. The OIG Toolkit with free SAS® programming code makes that possible.
- Understanding capital requirements in light of Basel IVMany financial firms are already using a popular 2012 PIT-ness methodology for internal ratings-based models. This article examines eight ways the industry is successfully using the methodology – and why this approach can bring synergies for banks, value for regulators, and major competitive advantages.
- Payment fraud evolves fast – can we stay ahead?Payment fraud happens when a criminal steals a person’s private payment information, then uses it for an illegal transaction. As payment trends evolve, so do the fraudsters. Banks and PSPs can fight back with advanced analytics techniques that adapt quickly to spot anomalies in behavior.
- Online payment fraud stops hereBillions of dollars each year are lost to online payment fraud through channels that provide convenient – yet vulnerable – ways to shop and bank. See how to fight back and win with advanced analytics.
- Beyond IFRS 17 – what's next?IFRS 17 is not just a new accounting standard. Its fundamental objective is to provide transparency and insight to the insurance business while identifying strengths and areas for improvement. Learn how to keep a long-term vision and achieve broader business value beyond the immediate demands of IFRS 17.
- Unemployment fraud meets analytics: Battle lines are clearly drawnMany fraudsters seized opportunities presented by the COVID-19 pandemic. During the crisis, unemployment fraud became a battleground between international criminal networks and government agencies. Learn how analytics can save billions – and deliver benefits to those truly in need.
- Managing fraud risk: 10 trends you need to watchSynthetic identities, credit washing and income misrepresentation – these are just some of the trends to watch if you’re trying to understand how to manage fraud risk. Find out what’s on the top 10 list of trends according to experts like Frank McKenna and Mary Ann Miller.
- Continuous monitoring: Stop procurement fraud, waste and abuse nowProcurement fraud, waste and abuse silently robs businesses an average of 5% of spend annually. And even when organizations invest in detection methods, they’re often let down by their techniques. Learn what continuous monitoring is and why this proven analytical method is key to fighting back.
- Understanding capital requirementsCredit risk classification systems have been in use for a long time, and with the advent of Basel II, those systems became the basis for banks’ capital adequacy calculations. What is needed going forward is an efficient and honest dialogue between regulators and investors on capitalization.
- Next generation anti money laundering: robotics, semantic analysis and AIAnti-money laundering taken to it's next level is sometimes referred to as AML 2.0 or AML 3.0. What does this next wave of AML technology look like? What can it do that you can’t do with traditional AML? See the results innovative financial institutions around the globe are already getting.
- How AI and advanced analytics are impacting the financial services industryTop SAS experts weigh in on the topics that are keeping institutions up at night and fraudsters in a job.
- IFRS 17: Waiting is not an optionIFRS 17 is a principles-based accounting standard for the future-oriented valuation of insurance contracts. Designed to increase financial transparency, IFRS 17 requires insurers to report in more detail on how insurance and reinsurance contracts affect their finances and risk.
Credit Risk Management
The credit crunch that followed the global financial crisis put credit risk management practices in the spotlight. And they are about to take on an even more prominent role as banks brace for the impact of the new Basel III regulations, which will impose higher capital costs for credit risk.
Even though credit risk management has always been an essential bank function, better credit risk management is essential – and not just for compliance purposes. Learn more about how managing credit risk presents a huge opportunity for improving a bank’s overall performance.
Once upon a time, liquidity risk management got little more than lip service from banks. But the global financial crisis changed all that by exposing liquidity risk as the industry’s Achilles’ heel. Today, liquidity risk has become a daily part of the banking lexicon, as banks brace for sweeping regulatory changes surrounding liquidity. But is liquidity risk management something to be embraced or feared? Find out what the experts are saying about liquidity risk and the high-performance solutions that can help you manage it.
The incidence and sophistication of fraud, waste and abuse are on the rise in every industry, fueled in part by the ongoing financial uncertainty gripping the world's economy. No matter what industry you're in – banking, insurance, health care, government – your organization is likely feeling the effects. And feeling the pressure do something about it.
To fight fraud effectively, you must continually improve the way you monitor customer behavior across multiple accounts and systems. Get the latest insights on fraud prevention and the technology that gives organizations the upper hand in detecting fraud in any form, at any touch point.
A recent Longitude Research survey of more than 100 senior banking officials across Europe and the US found that the majority of banks still don’t use stress testing outcomes to inform strategic decision making. What is holding them back?
While government is, by no means, the only industry fighting fraud, government agencies face unique challenges. Join in discussions about the many ways analytics is driving change.