For small and medium-sized businesses (SMBs), the impacts of a disaster can result in loss of or lack of access to data, applications, and work facilities. Those with disaster recovery plans in place fared much better than those without such contingency plans.
Tax fraud is already prevalent, and fraudsters are more sophisticated and automated than ever. To get ahead of the game in detecting fraud and protecting revenue, tax agencies need to leverage more advanced and predictive analytics. Legacy processes, systems, and attitudes need not stand in the way. To explore the challenges, opportunities, and value of tax fraud analytics, IIA spoke with Deborah Pianko, a Government Fraud Solutions Architect within the SAS Security Intelligence practice.
Failing to contain financial crime hits banks with the double impact of crime-related losses and fines imposed by regulators and law enforcement agencies. Depending on the magnitude of a bank’s failure to stem financial crime, fines can run into hundreds of millions of dollars – and even higher in exceptional cases. More importantly, institutions are keen to protect their brand from association with transnational organized-crime rings and scandals related to corruption.
This white paper, sponsored by SAS, examines the interplay between the
challenges and opportunities afforded by the growing breadth of digital channels
offered by financial institutions. Mobile wallets, real-time peer-to-peer (P2P), and
digital account opening all require the right mix of security solutions, background
analytics, and personnel to balance positive customer experience with robust
fraud protection. JAVELIN independently produced this whitepaper and maintains
complete independence in its data collection, findings, and analysis.
Digital currency is here. Consumers have demanded more choice in ways to pay merchants, move money to friends and access their accounts. Payment providers have done well to meet these expectations for immediacy and convenience in managing money. The convenience is great for account holders, but it requires financial institutions and merchants to apply fraud safeguards at the same speed, sometimes in less than a second. Each new accelerated service brings new risks.
For traditional banks, competing in an increasingly digital business environment is a challenge. And it’s getting tougher on several fronts.
First, today’s digitally oriented customers expect banks to provide an ever-higher quality experience defined by speed and the flexibility to conduct business across many channels. They’ve grown accustomed to going online and transferring money between accounts, for example, and using their mobile device to make payments and check their account balance. These kinds of experiences have raised the bar in terms of customer expectations – and banks need to keep up, or risk losing customers. This is particularly true of millennial customers, as they have little regard for loyalty, which banks have traditionally relied on to build their business. Once frustrated by inconvenience, they don’t hesitate to switch banks – and thanks to the internet, this is now a fast, painless process.
Tax evasion is the largest economic crime in the world (in terms of monetary loss), costing trillions of dollars to governments around the globe. A 2011 study by The Tax Justice Network estimates that on a global scale, total tax evasion is in excess of US$3.1 trillion, or about 5.1% of world GDP.1 And that’s just the known tax evasion and noncompliance; it doesn’t include the underground economy and cash businesses.
Physicians and their patients, medical policy makers and licensing boards, pharmaceutical companies and pharmacies all must work together to stem the opioid epidemic and achieve the fundamental objectives of reducing addiction and deaths. With so many players and data sources, today’s information is partial, fragmented, and often not actionable. We don’t have the data to understand what’s happening, to adjust policy, and to motivate physicians and patients to change their behaviors.
Better data and analytics can help develop better treatment protocols, both for pain in the first place and for remediation when patients are becoming dependent on the drugs.
Insurers have long been plagued by fraud, error, waste, and abuse in health care payments. The costs are huge – amounting to as much as 25 percent of payments made. Today’s data management and analytics platforms promise breakthroughs by incorporating comparative and behavioral data to predict as well as detect loss in all its forms. To explore the opportunities and how insurers can capitalize on them, IIA spoke with Ben Wright, Sr. Solutions Architect in SAS’s Security Intelligence Global Practice.
Reacting to our customer’s “moments of truth” will require unique, personalized responses in real time that transcend traditional marketing and span channels and devices. This is more than marketing maturity: it’s the new marketing imperative.
For many of us, the term “smart city” conjures up images of sensors collecting data about everything from traffic patterns to energy use. It’s common for government leaders to think, “That’s not for us. We’re not there yet.” But if your organization is collecting data of any kind, you are in a position to use that data to create a smarter city for your citizens.
From cars to factories to cities, many governments are already collecting information from citizens and connected devices that send and receive data over the internet of things (IoT). While analysts expect the IoT to soar to tens of billions of devices by 2020, no one knows how many or what new types of intelligent devices will emerge. But we do know that traditional approaches to data management and analytics may not be sufficient for sustaining value in this new, connected world
"The Industrial Internet of Things (IIoT) is flooding today’s industrial sector with data. Information is streaming in from many sources — equipment on production lines, sensors at customer facilities, sales data, and much more. Harvesting insights means filtering out the noise to arrive at actionable intelligence. This report shows how to craft a strategy to gain a competitive edge. It explains how to evaluate IIoT solutions, including what to look for in end-to-end analytics solutions. Finally, it shows how SAS has combined its analytics expertise with Intel’s leadership in IIoT information architecture to create solutions that turn raw data into valuable insights.
"The connected customer is an individual who is intimately connected to the data, outcomes, decisions and staff associated with any relationship to an organization. To create personalized experiences, companies across all industries must pursue a more connected relationship with their customers through technology and processes focused on delivering relevant personalized experiences whenever possible. In this report, Blue Hill explores the key traits associated with supporting the connected customer through the internet of things, and provides guidance on why the internet of things will be essential across the general business landscape.
"As more products and machines become connected, and analytical capabilities grow, new applications for the Internet of Things (IoT) will emerge. So too will manufacturers change how they make business decisions. This IndustryWeek Special Research Report gauges the current and planned usage of IoT technology and analytics by US manufacturers. It also explores how manufacturers can develop a specific IoT strategy and apply analytics more widely across their organizations to drive revenue, cut costs and innovate.
The underground economy is thriving, thanks in part to new technologies and business models such as digital currencies and online marketplaces for freelance services. SAS fraud specialists reveal how government agencies can uncover these activities – and the tax obligations not reported from them. A former head of compliance for the country’s fourth-largest state workers' comp program describes how a comprehensive analytics program found a tax gap of $718 million and was granted funding to double the team’s size without even asking.
Quality 4.0 isn't really a story about technology. It's about how that technology improves culture, collaboration, competency and leadership.
The last decade has seen rapid advances in connectivity, mobility, analytics, scalability and data, creating what some call the fourth industrial revolution, or Industry 4.0. With the help of the Industrial Internet of Things (IIoT), manufacturers have digitized operations, transforming efficiency, supply-chain performance and innovation. This revolution has even created entirely new business models.
This e-book gives manufacturers the tools to lead the Quality 4.0 transformation – a transformation that raises traditional manufacturing to the next level. It teaches readers to use advanced technology, analytics and IIoT to strengthen the manufacturing process and bring it forward into a powerful digital age.
With the support of SAS, the Internet of Things Institute developed the 2017 Internet of Things ROI Research Study to gather real-world insights, lessons learned and future guidance from current users of IoT technology and advanced analytics. This selective sample of IoT users offers valuable insights to both IoT innovators and organizations still waiting to see how the technology evolves before investing.
Multiple business layers and functions have input into IoT decision making. Discover which layer was most critical to success for those organizations that have achieved the highest percentage of their targeted ROI. Learn about the main drivers of success for IoT users achieving higher returns. Lastly, the results highlight six primary factors that can undermine an IoT initiative and how they can be prevented.
Financial organizations are deploying artificial intelligence and machine learning in the fight against financial crimes. David Stewart, Director of Pre-Sales for the Global Security Intelligence Practice at SAS, offers tips to help separate fact from market hype when reviewing new data analytics tools. You’ll learn about:
• The new industry intrigue with artificial intelligence and machine learning.
• How these emerging solutions can benefit financial institutions.
• The SAS approach of “crawl, walk, run” when it comes to adopting new analytics tools.
With enhanced regulatory pressure, banks must continuously evaluate their risks. To meet these demands, the AML industry has turned to analytical/statistical methodologies to reduce false-positive alerts, increase monitoring coverage and reduce the rapidly escalating financial cost of maintaining their AML programs. An effective AML transaction monitoring strategy includes segmenting the customer base by analyzing customer activity and risk characteristics in order to monitor them more effectively. This paper explains how to blend both quantitative and qualitative methods to tune scenarios to identify the activity that poses the most risk to the bank.
Health insurers have long been plagued by issues of fraud, waste, abuse, error and corruption. Taking an enterprise approach to payment integrity – one that combines advanced data management and sophisticated analytics – can help payers detect and prevent fraud; effect positive change in how providers, employees and patients behave; and substantially reduce health care costs. Payers can achieve better outcomes when software support for the core disciplines of payment integrity run on a single platform.
Procurement fraud affects nearly one-third of organizations, and it is often perpetrated by the most trusted, longtime employees, the ones you’d least suspect. Learn from three white-collar crime specialists about common flavors of procurement fraud, striking examples from recent headlines, four fundamental ways to get better at detecting and preventing fraud, and how to take procurement integrity to the next level.
How much are fraud, error, waste and abuse costing your organization? Costs to insurers are huge – as much as 25 percent of payments made. But data management and analytics can save the day. This paper discusses how data can be used to predict and detect loss in all its forms.