Accelerate Fraud Detection With Graph Databases

Summary

Graph-Powered Fraud Detection: Why It’s Faster

Fraud is increasingly costly and sophisticated. The Association of Certified Fraud Examiners estimates that fraud typically goes undetected for 12 months, costing an average of $8,300 per month. That translates to 5% of revenue ($4.7 trillion) lost to fraud each year.

Many of today’s fraud-detection solutions are based on relational databases, which provide only a superficial understanding of unusual behaviors and patterns across customers, devices, and companies. Finding connections requires manual and complex joins between tables, which reduces query performance and slows detection timeframes. By contrast, graph databases natively store complex networks of transactions, accounts, people, and related data. Taking this approach allows you to detect fraud more accurately and in real time.

Enhance Your Fraud Detection Solutions With the Neo4j Graph Intelligence Platform

Neo4j offers a flexible, native graph database and algorithms that allow you to quickly uncover and investigate complex fraud, enhancing your existing solutions and maximizing your AWS investments.

Key Benefits:

• Enhance fraud detection with graph technology
• Improve outcomes using three key graph design patterns
• Integrate seamlessly with existing AWS solutions

Graph databases offer flexibility that traditional relational databases can’t match, making data exploration and experimentation intuitive. Neo4j’s Cypher query language reduces coding and uncovers complex fraud patterns quickly.

Graph Design Patterns:

• Pattern Matching: Identify fraudulent behavior by specifying and querying patterns in the graph.
• Pathfinding: Reveal hidden bad actors and indirect relationships in large datasets.
• Machine Learning: Discover valuable relationships for feature engineering in fraud detection models.

By using these graph design patterns, you can strengthen your fraud detection solutions, reduce false positives, and stay ahead of evolving threats—cutting your losses.

Download our ebook to learn more now.