Fraud Data Anaylics

“Know your enemies and know yourself, you can win a hundred battles.” This truism from Sun Tzu’s The Art of War is as applicable to the battle against Fraud as it is to the military battlefield. It is incumbent upon financial institutions to defend themselves and their customers from potential Fraudsters. In order to accomplish this a solid understanding of the tactics and strategies deployed by Fraudsters is required. This understanding will assist in providing direction on how Fraud Analytics can assist the financial institution.

We will present a clear understanding of the definition of Fraud Analytics. The purpose and ways that analytics can assist in identifying fraud efficiently. Several examples of how analytics can be used by product, channel and across the organization. Implementing Fraud analytics is easier said than done. Identification of some common difficulties in implementing analytics including data availability; data understanding; integration of disparate sources of data and infrastructure limitations will be discussed along with some tools to assist in alleviating these difficulties.

As a result of participating in this session, you should be able to better:

  • Define Fraud Data Analytics
  • Recognize the purpose of Fraud Data Analytics
  • Explain examples of How Fraud Data Analytics can be used
  • Identify difficulties in implementation of Fraud Data Analytics