The word ‘credit referrals’ or ‘you’ve been referred to a credit Analyst sir!’ does not go down well with potential customers, particularly when the customer is waiting to get his hands on the next iPhone.
Almost all businesses, with a few exceptions, use a risk assessment scoring methodology to score an application prior to parting […]
What is Orpheus?
Orpheus is a Fraud Management System (FMS) commonly used for detecting Subscription Fraud.
How does Orpheus differ from other FMS tools?
Traditional fraud management systems adopt unusual usage to generate fraud alerts, for example high spending or usage outside of normal behaviour to indicate fraudulent activity. While this may provide immediate and […]
If the chairman of the board asks, ‘can someone walk me through the anti-fraud and compliance program of our company’, it is not rare for the board to ponder who exactly owns the anti-fraud program in their organisation – legal, compliance, HR, IT?
In the article ‘Who owns fraud?’ by Dan Torpey and Mike Sherrod […]
It was once the domain of the petty thieves working alone, and often targeting one organisation. The organisations too did not feel the pang and often wrote the losses off as bad debts. On a bad day for the thieves, a few days of community service and a slap on the wrist was all it […]
It’s been two weeks since we hosted our fraud management solution in the cloud. It is purely for demo purposes, and the feedback so far has been positive. I thought I should share with you some of the thought processes that went into hosting the solution in […]
According to the 2011 Global Fraud Loss Survey conducted by Communications Fraud Control Association (CFCA), the top two fraud types in the Telecommunication industry are Subscription Fraud and Compromised PBX System Fraud (circa $10 billion in combined dollar loss). While PBX fraud has been around for many years it has only taken centre stage as […]
Data Warehousing is close to my heart as I’ve spent a significant part of my career building, modelling or architecting large and complex data warehouses and analytics systems. If I am not building one, I am certainly using one. Finding the data sources, cleaning and loading them into structured star schemas and deriving intelligence has […]
Expenses Fraud may not be as big as other forms of occupational fraud but nonetheless it’s a soft target and considerable damage could be done, at short periods, if not nipped in the bud. According to a report by ACFE, a typical organisation loses about 5% of its revenues […]
Statistical models are ubiquitous, from predicting the next wind direction in the Atlantic to whether you are about to buy a Beatles tune from Amazon. Statistical models have also been used widely to predict fraud among mobile subscribers. The object is to eliminate fraud as soon as it occurs. However, more often than not, legitimate […]