Fraud is defined as “deception deliberately practiced in order to secure unfair or unlawful gain”. Organizations and government agencies across the globe face a constant battle against a litany of threats, many of which can lead to catastrophic financial losses, stolen intellectual property, compromised customer data, and much more.
It’s no secret that a combination of the right data and smart analytics can help combat fraudulent activities. While most organizations are already collecting data and performing analytics to some degree, they lack the ability to capture unstructured data, fuse it together with structured data, and distill it in such way that allows for insightful analysis and decisive action. Using a holistic, intelligence-based approach, your organization can capitalize on the influx on Big Data in the form of social media, blogs, news, emails, or chat messages, fused with CRM, financial, logistical, or operational data to detect, neutralize, and prevent fraud.
One of our partners utilized our platform to investigate one of largest real estate bankruptcies in Switzerland’s history. Efforts to investigate the fraudulent activities went on unsuccessfully for over two years, and the only leads provided by the Swiss bank were incomplete names for two companies and two individuals. Within one week, we were able to capture social media and other unstructured data from european company registries and open sources to provide the intelligence necessary to recover over $10 million in assets.
