Fraud

Cloudera and NVIDIA Help IRS Fight Fraud, Safeguard Taxpayers

Across the federal government, agencies are struggling to identify, organize, analyze, and act on troves of data. It’s a problem that leaders are working actively to tackle, but they’re in a race against immeasurable volumes of data that is continuously being generated in perpetuity in stores known and unknown. At the Internal Revenue Service, decades’ worth of data exceeds even the most cutting-edge processing capabilities.

Fraud Processing with SQL Stream Builder

SQL Stream Builder allows developers and analysts to write streaming applications using industry-standard SQL. In this video, you will learn the interactive experience with syntax checking, error reporting, schema detection, query creation, and creating outputs on fraud detection with its powerful interface and APIs.

Mastercard Reduces MTTR and Improves Query Processing with Unravel Data

Mastercard is one of the world’s top payment processing platforms, with more than 700 million cards in use worldwide. In the US, nearly 40% of American adults hold a Mastercard-branded card. And the company is going from strength to strength; despite a dip in valuation of more than a third when the pandemic hit, the company has doubled in value three times in the last nine years, recently reaching a market capitalization of more than $350B dollars.

How can DataOps improve your financial institution's fraud program and mitigate risks?

Fraud comes in different forms, from client-facing credit card fraud to internal fraudsters twisting the loan portfolio. Banks (and other financial institutions) need to stay vigilant and act fast to prevent the loss of both money and reputation that follows each fraudulent incident. Fraud is expensive, but fraud prevention, detection and remediation can also be costly.

How a modern data platform supports government fraud detection

November 15-21 marks International Fraud Awareness Week – but for many in government, that’s every week. From bogus benefits claims to fraudulent network activity, fraud in all its forms represents a significant threat to government at all levels. Some experts estimate the U.S. government loses nearly 150 billion dollars due to potential fraud each year, McKinsey & Company reports.

Fraud Prevention - 3 Data Strategies for Financial Services

Fraud awareness in the Financial Services industry is more important than ever. According to the September 2020 benchmarking report conducted by the Association of Certified Fraud Examiners (ACFE) in response to the coronavirus, 77% of survey respondents, representing a range of industries, have observed an increase in the overall level of fraud as of August, compared with 68% in May. The report reveals 68% of respondents have observed an increase in payment fraud schemes (vs.

Combating Fraud in Insurance with Data

Well, it is International Fraud Awareness Week, focused on promoting fraud prevention and education. A fantastic initiative! Maybe I am naïve but I feel a bit sad that there is a need for “fraud week”. The insurance industry has a long and intimate relationship with fraud in many different ways. Insurance fraud can take place at a process or business function level, most notably in claims or underwriting.

Predicting fraud: Key predictors to protect financial institutions

With the technology today, electronic financial transactions offer a degree of convenience that simply cannot be provided by physical institutions. It’s a matter of being able to transfer money, make payments, and complete similar transactions—all without having to go to a bank or wait in line. While this brings immediacy to financial transactions, sometimes this convenience comes with a risk. The complicated nature of mobile money has the potential to compromise security.