Detect Fraud As It Happens

Data is analyzed against both a supervised and unsupervised model to produce a score that indicates the probability of fraud and another score that shows how the transaction deviates from what’s normal, also known as an oddity.

When a transaction is scored, it either passes or is flagged as probable fraud, an odd transaction, or both. By scoring transactions as they happen, you can respond to raised alerts provided by an event processing platform and create a case that facilitates the investigation of potential fraud.

With a capable and integrated case management tool, you can take an alert from when it is raised, through the investigation stage, and if applicable, onto the regulator. Capture inputs from historical data, surveillance analyst notes, and transaction log extracts to determine what’s fraud and what’s not.

Detect fraud by using a combination of event processing and analytics rather than a series of concrete rules for detection. The agility of these platforms allows you to modify the framework quickly and easily to adapt to other scenarios.

Fraud detection spans many different domains including anti-money laundering, trade surveillance, credit/debit card monitoring, health insurance fraud, insurance fraud, and online operations.

Justify to regulators your decisions about what events were determined to be fraud or not and what actions were escalated or not. Show consistency over time, reasons for changes in approach, and documented changes and approvals.