Recognize the many faces of fraud with predictive analytics
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Transcript of Recognize the many faces of fraud with predictive analytics
Recognize the many faces of fraudHow predictive analytics can help detect and prevent
fraudulent activity that can harm your business
Fraud is
BIG BUSINESS...
every country...affecting
...in
every industry
Each year in the United States alone,
600billion 600$
fraud costs the economy anestimated
Fraud wearsmany faces
Benefit/Welfare
Financial
Customs
TaxCredit
Healthcare
Insurance
Tax
Public Sector
Financial
Credit
And more...
It can take place in any segment of the
commercial or public sector.
And it can do
serious damage
to your
organization's
profitability and
reputation.
STOPHow are you going to
fraud from affecting you?
Conventional analytics detect fraud
only after it occurs.
IBM SPSSPredictive Analytics can detect fraud as it happens.
Advanced analytical techniques
+ Your own business knowledge
The ability to detect suspicious circumstances
for quick reaction
IBM SPSS Predictive Analytics can help you...
• Analyze all of the variables related to fraud.
• Detect suspicious conditions and react quickly
to mitigate the damage.
• Increase success rates and reduce costs.
• Keep up with constantly changing fraud tactics.
Healthcare Fraud
IBM SPSS can identify elements
of treatment that lie outside the
"normal" range, detecting one
fraudulent claim among billions of
legitimate cases.
A major healthcare company
earned a 100% return oninvestment within 3 months ofimplementing IBM SPSS, saving
more than $40,000 in fraudulent
invoices in one case.
Insurance Fraud
By using a multistage process
that repeatedly evaluates
claims, IBM SPSS takes into
account all available data in
order to reduce claims fraud.
Infinity Property and Casualty
reduced the identification of
fraudulent claims from 14 daysto 24 hours with IBM SPSSsoftware.
Tax Fraud
IBM SPSS predictive analytics
helps tax agencies focus
investigations on cases that are
likely to yield the largest tax
adjustments.
By more accurately identifying
fraud, a U.S. national revenue
agency was able to detect twice
as many fraudulent returns,
saving taxpayers $16 million.
Public Sector Fraud
From benefit fraud to customs scams,
IBM SPSS helps uncover patterns
that point to fraud, waste, or abuse.
Banco de Prevision Social
increased efficiency from 5 daysto 20 minutes for reporting sets offraudulent cases to inspectors using
predictive analytics.
Credit Fraud
IBM SPSS solutions can reduce
losses by accurately detecting
subtle anomalies in loan or credit
card applications.
A Brazilian financial institution
identifies fraud by processingcredit card transactions in 500milliseconds to determine if theyare fraudulent and require
immediate mitigation.
Want to find out more?
Watch the webinar
Unleash the power ofpredictive analyticsto mitigate risk and fraud
ibm.biz/PAforFraud