Fraud Investigation
Insurance fraud costs companies and their consumers billions of dollars each year. Preventing such crimes is costly and time consuming. It is hard for companies to know exactly what activities to look for because of the vast quantity of data and the inventive ways in which people commit fraud. Hidden in the data are patterns of behavior that represent fraudulent activities which can not easily be detected by the naked eye. Evidence Based Research, Inc. (EBR) can help organizations detect and prevent fraud by using advanced analysis and visualization tools to connect patterns and show links between fraudulent companies and individuals. EBR targets individuals and organizations potentially committing fraud by gathering vast amounts of data on numerous companies and showing their relationships. This process helps detect complex alliances, showing indirect relationships between companies of interest, corporations, organizations, people, and more. EBR utilizes sophisticated tools that search the open source to extract and organize data from thousands of Web pages. We process the language, and find meaning in the collected data. Working closely with clients, EBR assists in preventing fraud by categorizing the documents collected based on general content. Rules are developed to determine how any particular activity fits in the overall pattern of behavior. It not only includes content and context, but it has semantic and syntactic processing capabilities. When combined with internal data, we develop models to enable link analysis, profile development and knowledge discovery. We then build illustrative link analysis and multidimensional visualization models to support analysis requirements. Fraud analysts need sophisticated tools and approaches to find the fraudulent needle in the legitimate haystack. EBR can help provide this capability using state-of-the-art tools in a cost effective manner. This process can be helpful to companies by vastly reducing the time necessary to identify potential fraud activity.
Jim Yeargain Evidence Based Research, Inc. 1595 Spring Hill Rd, Suite 250 Vienna, VA 22182-2216 (703) 287-0367
Candidate Tools for Fraud Investigation
Actimize™ helps enable financial institutions and other organizations to identify potential threats, mitigate risks, and maintain regulatory compliance. Actimize™ identifies elements that may impact the models, flagging transactions according to predefined criteria. It uses proprietary data structure to simultaneously maintain, update, and correlate the predefined parameters against the relevant models. The Patent-Pending Actimize™ Intelligence Server helps embeds analytic capabilities directly within operational processes. Actimize™ enables a more effective process management through the insight gained from powerful analytics applied to both static and transactional real-time data. Visual Links™ is an advanced analytical tool for pattern discovery, link analysis, data visualization and network-centric analyses. Visual Links™ presents data graphically uncovering underlying relationships and patterns. VisuaLinks™ addresses the entire analytical process from access and integration to presentation and reporting. Visual Links™ allows you to uncover and expose interactions and relationships between data thru accurate pattern detection, performing proactive and reactive analysis supporting tactical and strategic operations.
NetMap’s™ internationally proven technology reveals the vital, hidden clues within multiple transactions. Millions of items of data can be simultaneously analyzed to pinpoint a suspicious activity. NetMap’s™ tailored solution helps detect when a fraudulent activity happened, how, who did it, which customer and more. NetMap™ breaks down data to its simplest form and then it "maps" that data to find common links that would otherwise be physically impossible to find. Memex™ provides powerful capability that is used by intelligence, investigative and law enforcement agencies world-wide. Memex™ has remote access and provides easy data capture methods from remote sites. It has a web-enabled intelligence solution that allows access to multi-source streams of data visa standard web browser technology Memex™ provides a powerful search, retrieval and analysis capabilities over all data sources irrelevant of their location or format. It stores a wide variety of different file types that exist in Word. Data Harvesting™ collects data, cleans it, and sends out auto-responders and follow-up e-mails. It works intelligently, processing all harvested data automatically, as well as adding attachments, and re-routing important enquiries. All harvested data is stored in password-protected, offline, backed-up databases, and available for use.