How Artificial Intelligence Uncovered Evidence of Fraud

How Artificial Intelligence Uncovered Evidence of Fraud

While many industries have adopted artificial intelligence (AI), mostly in the tech sector, it’s adoption rate in financial services has been relatively slow. Even though AI is far from a pipe dream, 76% of banking CXOs agree that adopting AI will be critical to differentiate in the market, the technology tends to conjure up images of sci-fi movies, with ambitious computers replacing humans. The reality of AI is much more collaborative and effective.

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Health Care Fraud: 5 Common Billing Schemes

Health Care Fraud: 5 Common Billing Schemes

According to the National Health Care Anti-Fraud Association, the U.S. loses tens of billions of dollars each year to health care fraud. Most health care fraud is committed by providers, such as physicians and hospitals, and much of that fraud involves fraudulent billing. This post discusses five common billing schemes, and how to detect and prevent them.

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The Real People Behind Identity Theft Statistics

The Real People Behind Identity Theft Statistics

Data breaches and identity theft continue to impact both businesses and consumers significantly. This year alone (as of November 2, 2018), there have been 1,027 data breaches which exposed over 57,667,911 million records. The Federal Trade Commission (FTC) also reported in their March 2018 Consumer Sentinel Network Data Book that they received 1.1 million reports of fraud and 371,000 reports of identity theft in 2017.

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The Importance of Voting for the Board of Regents

The Importance of Voting for the Board of Regents

As the month of December progresses steadily towards the end of the year, many CFEs around the world are busy focusing on end of the year activities and holiday preparations. With all of the hustle and bustle, it is easy to forget that CFEs have an important duty they must also complete before December 31: voting for the 2019-2020 Board of Regents.

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Key Findings From the 2018 Report to the Nations: Sub-Saharan Africa Edition

Key Findings From the 2018 Report to the Nations: Sub-Saharan Africa Edition

In a new sub-report, we now focus more closely on how occupational fraud impacts Sub-Saharan Africa. This study is based on the 267 cases of occupational fraud from Sub-Saharan Africa that were reported in our 2017 Global Fraud Survey. Collectively, these cases, which accounted for 13% of all cases in our global study, caused a median loss of USD 90,000 and lasted a median 12 months before they were detected. 

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