As our lives become increasingly digital, a growing number of financial transactions are conducted online. Fraudsters have been quick to adapt to this trend, and to devise clever ways to defraud online payment systems. While this type of activity can and does involve criminal fraud rings, a... read more
The impact of fraud on the insurance industry is estimated to be $80 billion annually in the US, a number that has been growing in recent years. From 2010 to 2012, questionable claims in the U.S. jumped 27 percent, to 116,171 claims in 2012, nearly half resulting from faked or exaggerated injury... read more
First-party bank fraud involves fraudsters who apply for credit cards, loans, overdrafts and unsecured banking credit lines, with no intention of paying them back. It is a serious problem for banking institutions. U.S. banks lose tens of billions of dollars every year to first-party fraud,... read more
Banks and insurance companies lose billions of dollars every year to fraud. Traditional methods of fraud detection play an important role in minimizing these losses. However increasingly sophisticated fraudsters have developed a variety of ways to elude discovery – both by working together and... read more