Fraud Detection

Every day, millions of people use computers and the internet for shopping, and criminals do too, looking for holes in the system to exploit.

Today, internet fraud is increasingly sophisticated, and can take many forms, including fraudulent insurance claims, fraudulent credit card transactions, fraudulent fuel purchases, fraudulent health care claims, fraudulent disability claims, or even fraudulent unemployment compensation claims.

Online merchants, insurance companies, credit card companies, healthcare providers, public agencies and other major targets already utilize Fraud Detection technologies. But what if those systems could do the job better? What if some fine-tuning and fresh ideas could make those systems more sophisticated?

The result would be...

Reduction of false positives and increased accuracy. False positives are valid transactions that are marked as fraud. So, by reducing false positives valid transactions are not delayed and processed immediately, while suspected fraudulent claims are researched and identified.

Accelerated identification of suspect claims early in the process. The faster that fraud is identified, the quicker suspect claims can be placed on hold and investigated.

Faster claim processing for valid transactions. With smarter Fraud Detection in place, valid customers will not experience any delays during the shopping process or be rejected or declined for legitimate transactions or claims.

Improved SIU (Special Investigation Unit) productivity. The SIU's job is to research all transactions and claims that have been identified as potential fraud. A more intelligent Fraud Detection solution significantly reduces false positives and improves recognition, allowing SIU investigators to focus on transactions that are most likely to be fraudulent.