Enterprise Fraud & Financial Crimes, Fraud Detection

By: SAS  06-Dec-2011

Banks, insurance companies, health care organizations and government entities are all seeing an increase in the incidence and sophistication of fraud, waste and abuse activities, fueled in large measure by the financial turmoil gripping the world's economy. To fight fraud effectively, organizations must continually improve the monitoring of customer behavior across multiple accounts and systems. SAS® Enterprise Financial Crimes Framework provides a technology infrastructure that integrates fraud detection, alert management, network analysis and case management – giving organizations the upper hand in detecting fraud in any form, at any touch point.

Read about SAS solutions for fighting enterprise fraud and financial crimes:

Components of SAS® Enterprise Financial Crimes Framework

SAS Enterprise Financial Crimes Framework comprises software components designed to detect and prevent financial crimes, as well as manage efforts against them, for organizations in banking, health care, insurance and government. The framework includes components for:

  • Detection and alert generation – Enables systematic detection of suspicious activity.
  • Alert management – Provides capabilities for scoring, de-duping, prioritizing and routing of pertinent alerts to appropriate resources.
  • Real-time authorizations – Looks at all card transactions, including purchases, payments and nonmonetary transactions.

How SAS® Enterprise Financial Crimes Framework Is Different

Only the SAS Enterprise Financial Crimes Framework lets you:

  • Build and use holistic customer behavioral patterns in the fraud detection process.
  • Gain a true enterprise view of fraud by aggregating alerts from multiple systems into a single environment.
  • Fully leverage external data sources, such as fraud consortium databases.
  • Improve investigator efficiency with unique network visualization, data drilldown and other investigation tools.
  • Customize the solution as needed (e.g., develop fraud models unique to your institution).
  • Increase ROI per investigator tenfold through fewer false positives, the prioritization of higher-value networks and more accurate investigations.
  • Seamlessly integrate in real time with authorization systems around the globe.

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