In a world increasingly shaped by the unpredictable forces of nature, the insurance industry stands at a crossroads. The rising frequency and severity of natural disasters have compelled insurers to rethink their strategies. In July 2024, State Farm made headlines by dropping 1,600 policies in…
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We sat down with Porsche Westlake’s Service Director, Sam Abregel, to address 8 categories of warranty fraud to watch out for. Given the vast amount of transaction data and the presence of anomalous patterns indicating fraudulent activity in these categories, there is a huge opportunity…
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Healthcare claims are an inviting and alluring target for fraudsters due to their huge monetary value. In 2017 alone, HHS and DoJ recovered around 2.5 Billion Dollars in claims fraud. And that is just one year. The challenges facing healthcare payers are manifold as they…
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With data driving most business transactions, it is essential to analyze and interpret patterns in behavior correctly. NEMESIS, an anomaly detection tool powered by machine learning, can detect and predict against abnormal behaviors in data that signal threats of risk and fraud.
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As the volume of online transactions continues to grow exponentially, there is a new quest for enterprises to start new channels of business, gain more online presence, retain existing revenue streams, and stay relevant to current technology. Many organizations are unable to detect patterns related…
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Fraud isn’t something new, but it is becoming more complex and sophisticated. From bribing exam administrators to CFOs conducting unethical transactions, these five fraud cases were some of the most shocking for 2019.
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