Fraud remains a huge challenge for governments and inspectors at all levels, as fraudsters today are more successful than ever. Because many cases are so difficult to detect, there is tremendous potential for technologies such as analytics and AI to support investigations. The social inspectorates in Belgium have recently set
By Carl Eastwood, Fraud & Financial Crimes Domain Lead at SAS, and Katarina Garai, CFE - Retail & CSP Fraud Lead at SAS Managing fraud risks in the Communication Service Provider (CSP) industry is no easy task, not least because of the speed at which fraudsters adapt to exploit new
Let me introduce you to the 5 trends in Tax Administrations that Shaun Barry presented at the “Tax Summit in Madrid” last October. What does Smart Cloud mean? Security Data Strategies are on the rise OSINT - Open Source Intelligence The Rise of Cryptocurrency My job today is to present
It is often said that cooperation is key to addressing big, intractable problems. The European Union recently highlighted this with amendments to the Administrative Tax Cooperation Directive. These amendments are designed to improve cooperation between tax authorities on administrative tax and reduce tax evasion and tax fraud.[1] Increasing information exchange
Anyone in the insurance industry knows that fraudsters are becoming more sophisticated and their crimes more difficult to identify. Insurance fraud in the UK costs an estimated £3 billion per year – but only around a third of that is detected. Whilst opportunistic fraud poses a problem to the industry and
Money Laundering has been around for many years. In fact, the term originated in 1920s Chicago, when Al Capone, the original money launderer, “cleaned” the profits of his crimes by cycling the money through a chain of laundrettes that he owned. Nowadays, money laundering uses increasingly innovative and sophisticated techniques,
They look the same, don’t they? It can be hard to tell one duck from another, but one of them is from a bad egg (I’ll tell you which one at the end of the article). Business rules are a bit like this. They find you lots of alerts, but
As a former police commissioner, I can testify that public-sector fraud is a global problem. Government fraud is becoming bigger and more dangerous every year, especially in the COVID-19 era. Governments view the pandemic as a public health emergency and a severe threat to economic stability. But it’s also important
지난 1회에서는 날로 진화하는 자금세탁 유형에 스마트하게 대응하며 자금세탁 방지 의무를 준수하는 데 AI(인공지능)와 ML(머신러닝)이 어떤 도움을 줄 수 있는지, 그리고 이를 활용하는 전략으로 AML Compliance Analytics Maturity Model을 소개했습니다. 이번 글에서는 AI와 ML을 도입하기 위한 준비 단계인 ‘데이터 품질’에 이어, 나머지 성숙도 단계를 소개합니다. Level 1. 행동 모델(Behavioral Modeling)
It is increasingly possible to use text analytics to explore different types of data. When a news story this summer caught my eye, I decided to see if I could use SAS Visual Text Analytics (VTA) and SAS Visual Analytics (VA) on customer complaints to provide information that might be
지불/결제(Payments) 사기는 악의를 가진 누군가가 다른 사람의 개인 결제 정보를 훔치거나 속여 빼낸 다음 해당 정보로 허위 또는 불법 거래에 사용할 때 발생합니다. 새로운 결제 수단이나 서비스가 인기를 끌 때마다 결제 환경과 트렌드가 바뀝니다. 사기범들도 마찬가지입니다. 그들은 새롭고 점점 더 교묘해지는 지불/결제 사기 수법을 개발하여 새로운 환경에 적응합니다. 사기범은 사기를
The pandemic has definitely left its mark on the scale of the fraud we’re witnessing in the insurance industry. The key reason behind this is the economic recession. Whenever we observed a decline in a country’s GDP, an increase in fraud rates followed. When GDP fell by an average of
When considering anti-money laundering operations, it’s not unreasonable that most people would probably think first of banks and other financial institutions. These organizations are probably the most obvious place to deposit large sums of money, including those obtained from criminal activities. And are therefore the most important first line of
The threat of fraud is ever-present and growing. Organizations lose around 5% of their annual revenues to fraud, and many of them don't take sufficient proactive measures. It's notable that only 56% of organizations conduct investigations of even their worst incidents. That statistic is based on the 2020 ACFE Report
We made bold predictions a year ago about what 2021 would bring. We’re bold enough to do it again for 2022. The pandemic disrupted traditional ways of life in 2021. Remote learning and working became the norm for many. Telehealth took off, and IT modernization accelerated in every industry. 2021
During the pandemic, millions of people have made the leap to digital banking. Identity analytics can help banks provide a delightful customer experience while keeping fraudsters out in the cold. Fraud is often seen as a cost centre for banks, but there’s an opportunity for fraud teams to become a
사기 위험 증가, 그리고 고객 바로 알기 무수히 많은 고객 거래에서 사기를 찾는 일은 모래 속에서 바늘을 찾는 것과 같다고들 말합니다. 디지털 가속화로 휴대폰 하나만 있으면 언제 어디서든 원하는 서비스를 이용하고 비용을 지불하는 편리한 시대를 살고 있는 지금, 기업과 기관은 고객에게 보다 빠르고 더 많은 편의를 제공하여 시장과 고객을 뺏기지
The COVID-19 pandemic forced government agencies to accelerate digital transformation efforts, and the Internal Revenue Service (IRS) was no exception. The IRS was already in a significant transition period, spurred by the Taxpayer First Act, which was signed into law in July 2019. The Act was designed to improve the
Recently nine pharmacists from across the country were charged for their part in a $12.1M health care fraud scheme. The pharmacists allegedly took money for prescription medications that were neither purchased nor dispensed. The indictments further allege that the defendants billed Medicare and Medicaid for medications that were often medically unnecessary and for some medications that were purportedly dispensed to
고객은 금융기관이 개인 정보를 안전하게 관리하면서도 거래지연 없는 쉽고 빠른 서비스를 제공 해주기를 원합니다. 따라서 디지털 시대의 금융기관은 보다 빠르고 편리한 서비스를 보다 안전하게 제공하기 위해 실시간으로 위험거래를 탐지할 수 있는 시스템과 위기상황에 신속히 대응할 수 있는 정책이 준비되어야 합니다. 편리함이 가져온 새로운 위험요소 디지털화는 속도와 편리성이 높아 24시간 언제든
Bribery and corruption continue to plague governments and organizations around the world. Brazil’s Operation Car Wash, the 1MDB scandal in Malaysia, the FIFA bribery case and many others continue to make headlines. The prevalence of widespread, coordinated corruption and bribery is alarming and seems to continue to grow, despite ongoing sanctions and fines meant to deter these
If a cinderblock falls from the 4th floor of a building and crushes a construction worker’s foot, it’s terrible. If it lands on his head, it’s truly tragic. But the difference is sheer luck. Every employee deserves to return home safely from work. Unfortunately, accidents happen, which is why employers must carry mandatory workers’ compensation
Ladies and gentlemen, I give you Value-Based Payments (VBP), health care’s new magic, “silver bullet” that will solve all our fraud problems. Last month, the US Department of Health and Human Services (HHS) issued a press release entitled, “HHS Proposes Stark Law and Anti-Kickback Statute Reforms to Support Value-Based and
Most insurance companies depend on human expertise and business rules-based software to protect themselves from fraud. However, people move on. And the drive for digital transformation and process automation means data and scenarios change faster than you can update the rules. Machine learning has the potential to allow insurers to
Certain North Carolina counties have been in the news lately, for suspected election fraud involving absentee ballots in the 2018 election. Let's analyze the voter registration and absentee ballot data, to see if we can detect anything suspicious! In order to definitively determine whether fraud & illegal activity occurred, investigators
Healthcare fraud is alive and well. Honesty is dead and gone. There, I’ve said it. What else are we to take from surveys that find that 27% of people would sell their work passwords...44% of them for less than $1,000?* What does it mean that 37% of survey respondents think
In many grocery stores throughout the country, the acronym “WIC” accompanies a number of the food items on the shelves. The letters stand for the federal “Women, Infants and Children” program that provides nutritional food to pregnant women and their young children who are in need. While this is a
¿Quién, en ocasiones festivas y/o momentos especiales, no ha escuchado o repetido alguna vez y casi de manera automática: “Brindo por la salud”, “Lo importante es la salud, lo demás va y viene”? Al parecer, son escasos los momentos de nuestra vida, donde nos acordamos de nuestra propia salud, salvo
Artificial intelligence often seems misunderstood, especially in fraud. The same is true of machine learning. One of the amazing things about them is they ask the unasked questions. This occurs as artificial intelligence (AI) and machine learning (ML) go about their daily work. So, what is the unasked question? Too
