Information on Fraud Detection Systems
Justin J. Lister (ruf@osiris.cs.uow.edu.au)
Thu, 3 Aug 1995 00:59:21 +1000 (EST)
Here is some more Information on Fraud Detection Systems.
I would like to thank Anish Mahesh Mathuria (g9312439@cs.uow.edu.au)
for pointing me to the source. Mansour Grrrrrrr. B)
Info Source: Intelligent Software Strategies February 1995 - Volume XI No. 2
"Financial Crimes Investigator" Detects and Analyzes Contract Procurement Fraud
Anthem Corp - financial fraud investigation company (computer based).
Formed 1992 to research and develop effective ways to detect and combat
fraud. CEO Michael Kramer, is a former federal fraud prosecutor who headed
a fraud investigation firm after leaving the US government.
Product: Financial Crime Investigator
Description: expert system that guides an investigator through fraud and
corruption case.
System identifies contract fraud indicators, analyzes possible schemes, and
identifies various remedies and step-wise suggestions for conclusion of case.
Runs under Windows 386+ PC, US$895.
Contact: Anthem Corp, 12020 Sunrise Valley Drive, Suite 200, Reston, VA 22901
Phone: +1 703 620 1212 Fax: +1 703 860 8449
Info Source: Intelligent Software Strategies September 1994 - Volume X No. 9
HNC Software, Inc. "Falcon"
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Credit-card fraud detection system - online transactions.
NN and statistical analysis of card holders purchasing patterns.
Identifies and flags suspicious transactions.
More than 100 financial institutions evaluating for using the system.
Suggested 20-30% reduction in fraud.
Cost: site dependant
Nestor, Inc. "Nestor Fraud Detection System"
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Mainframe based NN & statistical credit card fraud detection system.
Proprietary net algorithm. Over half million transactions used in development
training. Fielded systems in use.
Cost: $300,000
Info Source: Intelligent Software Strategies July 1994 - Volume X No. 7
News Brief: Canada Trust Adopts HNC's Falcon for Credit Card Fraud Detection.
Canada Trust signed 7yr contract to HNC Falcon (first Canadian financial insti-
tution to use Falcon). Also lists in use in UK, Germany and Netherlands.
Falcon flagship product for HNC's transaction decision systems. 'Currently
monitoring more than 60 million credit-card accounts worldwide'. Also
establishing a neural network 'fraud control consortium' to allow for
cooperation in further improving fraud detection (upgrading the model).
Contact: HNC, 5930 Cornerstone Court, San Diego, CA 92121, USA
Phone: +1 619 546 8877 Fax: +1 691 452 6524
Info Source: Intelligent Software Strategies January 1994 - Volume X No. 1
News Brief: IBM System for Fraud Detection and Management Uses Fuzzy Modelling
Management system to target billing fraud and abuse in the health care
industry. Demonstrated at the National Health Care Anti-Fraud Associations
annual conference in Boca Raton, Florida.
Claimed to be the first commercial fuzzy information system made available
to the general public. Developed over two year period with health care
industry and fraud investigative experts. Features fuzzy modeling techniques
and decision support tools. Uses claims data to profile health care providers,
which allows analysis of physicians claims data to claims filed, by medical
field specialty or geographic location.
Contact: IBM, 1133 Westchester Avenue, White Palms, NY 10604
Phone: +1 (203) 262 3559 Fax: +1 (203) 262 5838
There is a long article in April 1995 Volume X1 No. 4. Which I will try
to surmise when I get some more time.
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| ____ ___ | Justin Lister ruf@cs.uow.edu.au |
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