Reimbursable employee expenses are a significant cost for most businesses, and unfortunately they are often a source of fraud by unscrupulous employees. To combat this, businesses typically rely on auditing employee expense reports manually. As this is a tedious and very labor intensive process, usually…
Read More The volume of online transactions is growing exponentially -- driven by the digitalization, sheer increase in the volume of online transactions themselves, larger scale of operations and new Financial Technologies (FinTech for short). Simultaneously with digitalization, there is a new quest for enterprises to start…
Read More Effective fraud detection and financial control initiatives leverage advanced analytics and machine learning techniques to derive valuable and actionable information for managers. The reliability of the results produced by these data intensive techniques is DIRECTLY dependent on the quality and quantity of data available for…
Read More The volume and dollar value of fraudulent transactions has mushroomed in recent years due to the phenomenal growth of electronic transactions that span every industry segment, coupled with the relative anonymity that online commerce offers to crooks of all shades. In the era of extreme…
Read More Fraud has been causing rising challenges for businesses. Over 72% of businesses cite fraud as a growing concern, and about 63% of businesses report same or higher levels of fraudulent loses over the past 12 months according to a report by Experian Global. The challenge…
Read More 10 categories of warranty fraud to watch out for. Sam says, all the warranty repairs are normally categorized into about 10 different categories. The final price charged varies between dealerships as the prices of the service and parts are marked up by different factors by…
Read More by Ananta Mukerji The makers of cars, trucks and other vehicles account for between 40% and 45% of the warranty expenses of all US-based manufacturers. Fraudulent warranty claims therefore represent a significant exposure for Automotive OEMs, and it is important to understand these expenditures in…
Read More by Ananta Mukerji The opportunity for Machine Learning in detecting warranty claims fraud. Machine learning (ML) is a branch of artificial intelligence that looks at patterns of data and draws conclusions. Once it gets good at drawing correct conclusions, it applies itself to new data…
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