Tag Archives: Fraud

Fraud & Security Got Enough Fraud… Models That Is?

Fraud Models

When designing a strategy for detecting and preventing fraud, everyone always comes to the same conclusion—there is no silver bullet. There are simply too many variables, and too much change in technology, customer behavior and fraudsters’ tactics for any one solution to work effectively and sustainably for every organization, no matter how sophisticated. Consequently, experienced fraud management executives are constantly experimenting and evaluating new data sources, scores, models, algorithms and technologies for that competitive edge. They observe customers’ behavior, survey their preferences and maintain a working knowledge of fraudsters’ evolving tactics. The goal is the same for everyone—minimize fraud losses while effectively balancing customers’ experiences and operational expenses. But the exact recipe each organization lands on—the mix of processes, people and products—varies widely and changes constantly. Fraud Models – Five keys to finding the right fraud score Many different providers—whether associations, processors, switches or analytic firms—have begun to offer unique... [Read More]

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Risk & Compliance Procure-to-Pay, 3 Ways Analytics Reduces Risks and Costs


There have been numerous articles throughout the year about government organizations and universities lacking the staff and tools to review 100% of their transactions. Most of the issues with procure-to-pay compliance arise because many staff reviewing transactions are more focused on completing their review than on the quality of the review. This can result in improper transactions slipping through, which has the potential to expose the organization to risk, bad audit findings and reputational damage. It is becoming clear that legacy systems and staffing simply aren’t sufficient. Analytics is critical to help monitor procure-to-pay transactions because it is fast, unbiased and can find hidden issues within the data. This article from the State of West Virginia is a perfect example: “More than 17% of Purchase Card transactions lacked sufficient documentation”.  Not all of these transactions were improper, but the lack of documentation when spread across 126,000 annual P-Card transactions in West... [Read More]

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