Counter-fraud

Data analytics provider SAS has announced a new partnership with the Insurance Fraud Bureau (IFB) in the UK; the organisations have launched a new fraud prevention platform that will help insurers and other institutions, including legal authorities, to quickly and efficiently share information and consequently clamp down on the actions of fraudsters.

https://www.itij.com/story/115207/anti-fraud-team-sas-and-ifb

With the incidence of fraud increasing and fraudsters showing a growing sophistication, a centralised approach has become essential, says FCase‘s Barry Bowen.

https://www.bankingtech.com/2019/01/the-challenge-of-fraud-operations-management/

UK Insurance Fraud has been in the headlines for many years. Crash for Cash which seems to be announced as a new form of fraud every 5 years or so, is a very real and costly type of fraud. The Insurance Industry has been very much at the lead of tackling fraud and hitting the headlines with successes. So, not too much too worry about if you aren’t involved in insurance? Please think again. Keep reading, it will soon be relevant to you and your working day.

https://www.linkedin.com/pulse/fraud-still-treated-like-skeleton-closet-peter-taylor-the-fraud-guy-/

Zurich has bolstered its anti-fraud efforts in the UK with the help of existing partner BAE Systems.

https://www.insurancebusinessmag.com/uk/news/technology/zurich-uk-armours-up-against-insurance-fraud-122396.aspx#.XEGly1kR7UA.twitter

Businesses should train staff how to detect and avoid falling victim to social engineering to help keep their data secure

https://www.out-law.com/en/articles/2019/january/businesses-must-address-social-engineering-risk/

Called Car Wash, the system considers over 30 potential indicators of motor insurance fraud in a streamlined process using innovative technology and novel algorithms

https://www.insurancebusinessmag.com/uk/news/technology/horwich-farrelly-a-year-on-since-pilot-of-fraud-probe-tool-122038.aspx

The FCA is to announce details of a plan in the new year but is looking at how it maintains whistle blower confidentiality; how information is shared between supervision and enforcement teams; and how it can enhance senior oversight of investigations.

https://uk.reuters.com/article/us-britain-fca-whistleblower/uk-watchdog-plans-to-overhaul-treatment-of-whistleblowers-idUKKCN1OT0LH

https://www.fleetpoint.org/technology-news/facial-recognition-ai-boosts-anti-fraud-protection/

The scale and impact of these frauds capture the attention of people around the world — even leading to massive regulatory overhauls or fraudsters becoming ingrained in pop culture

https://www.fraud-magazine.com/article.aspx?id=4295004220&Site=ACFEWEB

The holidays are a popular time for online and phone scams says Halifax Regional Police's 'fraud squad'

https://www.halifaxtoday.ca/local-news/how-to-avoid-being-a-victim-of-fraud-over-the-holidays-1161500