Any look back at analytics in 2017 makes it clear that machine learning and artificial intelligence appear to be the ‘next big things’ that can solve just about any problem, from writing new hit songs to curing disease. Not one to buy into the hype, I became curious as to
As the banking industry continues to combat increasing fraud challenges, payment fraud is growing exponentially. This growth stems from a shifting payment landscape with new and varied payment options. Globally, governments are introducing new initiatives like faster payments and real-time payments which compress turnaround times. These initiatives are altering the
I wish this were a blog about a new super-affordable airline, but instead capital flight is the illegal movement of money from its country of origin, transit or destination. This movement of money through facilitators is creating a hyper-breed of criminal enterprise using the regulations of the world’s financial systems
Did you pay your taxes? From stiff penalties to even jail time, the federal government provides plenty of incentive for citizens to pay, but each year nearly one in five Americans do not pay on time. This leads to a more than $450 billion gap in unpaid taxes, creating a
Procurement fraud, often a form of internal fraud, is common fraud’s black sheep of the family...whispered about at gatherings or ignored in hopes that it will simply go away. No one wants to shine a questioning light onto trusted employees or imply wrongdoing within our purchasing departments, but the fact
Artificial intelligence. Big data. Cognitive computing. These buzzwords are the ABCs of today’s marketplace. In a recent interview at SAS® Global Forum, I discussed the unprecedented pace of change that we’re seeing in the market. It’s creating what I like to call an analytics economy. In this economy, analytics –
During the week when everyone hanging onto their money until the last day files their taxes here in the U.S., I find it valuable to reflect on what won’t happen this week. Based on studies from the IRS, an estimated $458 Billion WON’T be appropriately reported or paid. This is
As Tax Week arrives, tax agencies may be overlooking fraud happening under their noses – fraud perpetrated by insider threats. While the agencies are focused on the hot fraud topics of the day – identity verification quizzing, protecting PIN files, and cybersecurity – insider threats pose a particularly insidious risk.
La detección de fraudes actualmente radica en la capacidad de observar grandes volúmenes de datos (devoluciones Fiscales) y reconocer patrones en ellos. Una sola devolución de impuestos que reclama el Crédito por Ingresos del Trabajo podría no parecer sospechosa, sin embargo, si 1,500 devoluciones solicitando el crédito son presentadas por
Umsatzsteuerkarusselle drehen auf dem Jahrmarkt der Straftaten tagtäglich fröhlich ihre Runden. Sie sind bei einer cleveren Spezies von Kriminellen ein beliebter Klassiker, der sich wie ein geldgieriger Virus immer wieder einnistet, wenn nichts dagegen unternommen wird. Dabei werden jährliche viele Milliarden Euro auf betrügerische Konten geschaufelt. Die Basis: Handel mit
In 2014, the federal government lost more than $125 billion to fraud, waste and abuse. And that’s just what we know about. While that number may sound incredible, those on the front lines of the government fraud fight know that it's all too real. The US government needs to change
Konferenzen rund um die Betrugserkennung mit Analytics sind eine wichtige Informationsquelle im unaufhörlichen Kampf gegen Kriminalität – für unsere Kunden, für unsere Wettbewerber, für uns selbst. Auch heute noch ist es ein Tabu einzugestehen, dass man Opfer eines Betruges wurde, und kaum ein Unternehmen spricht offen darüber. Denn absolut niemand
Anyone know what's the number two form of economic crime, in terms of losses? Believe it or not, it's procurement fraud. I grew up in a small town south of “Big D” and in my neck of the woods having two first names is, well, normal. So, when Will Farrell’s character,
There are several ways to buy data, and even more companies who are willing to sell it. By annual subscription or by the drink, third-party data vendors promise they can solve your identity theft and non-compliance problems. It’s as simple as signing a contract, and letting the data tap begin
A hot button issue this election season was the need to determine the eligibility of people for various government programs like the Affordable Care Act (ACA), Medicare and Medicaid, or entry into the United States as a migrant refugee. “Look, we’re facing the worst refugee crisis since the end of
On June 22nd, the U.S. Department of Justice announced the largest Medicaid fraud bust in history. The National Health Care Fraud Takedown included 301 defendants charged, $900 million in false billings, 61 medical professionals and 29 doctors, across 36 states. In another case, investigators in New York uncovered more than
Currently, most fraud detection solutions for financial crime and tax fraud are focused on risk assessing entities. That is to say, they evaluate the risk of each individual or businesses separately. While this helps prioritize risk-based investigations by alerting investigators to the likelihood of fraud, it does not necessarily maximize deterrence.
The Data For Good initiative is all about using data and analytics to improve the lives of citizens around the world – however most people wouldn’t immediately think about tax collection as a humanitarian effort. But that’s exactly how Courtney Kay-Decker, Executive Director of the Iowa Department of Revenue sees
Wer glaubt, die Digitalisierung hätte dem Thema Versicherungsbetrug den Garaus gemacht, der irrt – gewaltig. Nach wie vor ist einer von zehn gemeldeten Schäden und Ansprüchen erfunden oder manipuliert. Der Schaden: mindestens 4 Milliarden Euro allein in Deutschland – und das nur bei Sachversicherungen, also ohne Lebens- oder Krankenversicherungen. Den
Insurers are embracing digital to meet the demands of modern consumers. And, of course, there are obvious benefits to them from less costly, more streamlined interactions with their customers. The trouble is that digitisation comes with a major health warning: Unless insurers put suitable measures in place, they're at risk
Financial institutions evaluating fraud management solutions face a crowded vendor landscape. Dozens of vendors claim to offer various pieces of the puzzle. With so many choices available, how will you sort through the marketing rhetoric to find the best fit for your organization? You could assemble a team of analysts
Across the globe, governments are losing billions in revenues to organised VAT fraud. The most recent VAT Gap study published by the European Commission estimates that EU countries lost an estimated €168 billion in VAT revenues in 2013. That's equivalent to 15.2% of the total expected VAT revenue from the
Welcome to the dreaded week when procrastinators embrace their fates as responsible taxpayers. While you and I may be paying our taxes, to no surprise, as much as $2 trillion in the underground economy will go unreported this year in the U.S. While that number may seem shocking, and the percentage is higher than
Lately there seems to be a surge in the term machine learning. Much like big data a few years ago, machine learning is the new buzzword -- and the two terms actually go hand in hand. With increasing volumes of data now stored in distributed environments such as Hadoop, it's
¿Cuáles son los retos del sector financiero en Latinoamérica? ¿Cómo detectar y prevenir el fraude en los bancos y empresas de seguros de una vez por todas? ¿Podemos reducir el riesgo de pérdidas relacionadas con estas conductas fraudulentas? ¿Cómo minimizar los daños e impacto en la reputación organizacional? La lucha
John Beale was one of the highest paid government employees. A 10-year veteran of the Environmental Protection Agency (EPA), Beale defrauded the Federal Government of nearly $1M in employment wages and fraudulent travel. Beale came under suspicion after it was noticed that the he was still being paid wages 19
Barbarians are relentless, and they are inside the gates! That didn't go well for the Romans, and they had the most advanced technologies of their day. So how do we do better against the relentless waves of cyber barbarians attacking virtually everywhere? The answer to that is analytics, which offers early
Identity fraud typically conjures thoughts of credit card scams or stolen Social Security numbers. Medical identity fraud is often overlooked, but can be a crime that kills. On the black market your medical identity can be worth as much as $50 per person versus $1 for a Social Security Number.
To prepare for the data challenges of 2015 and beyond, health care fraud, waste and abuse investigative units (government funded and commercial insurance plans, alike) need a data management infrastructure that provides access to data across programs, products and channels. This goes well beyond sorting and filtering small sets of
International Fraud Awareness Week begins on Monday, and you know what that means. Our intrepid team of fraud experts is taking over the State and Local Connection blog! Fellow bloggers, get ready. Each day next week one member of the SAS Fraud and Security Intelligence team will post on a
