Fighting Fraud: Predictive Technology to the Rescue? Part 3

Technology Revolution: The Future of Now

Bonnie D Graham

Business News, Technology, News

4.9 • 108 Ratings

🗓️ 27 August 2014

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

The buzz: Fraud. As hard as you work to implement effective anti-fraud processes, voracious and savvy fraudsters are working even harder, and perhaps smarter, to thwart you. Good news! Predictive analytics technology can help you understand emerging fraud patterns and adapt against new types of attack, but only if you use the tools effectively. What will it take for your leadership to make this a priority? The experts speak. Derek Snaidauf, Deloitte: "The beginning is the most important part of the work" (Plato). Michael P Cangemi, Cangemi Company: "The uninspected (inevitably) deteriorates" (34th US President Dwight D. Eisenhower). Jérôme Pugnet, SAP: "Fraudulent actors often exhibit repetitive patterns. As we recognize these, we can apply heuristics to predict when they are about to occur again, and help stop them; but for complex, evolving fraud vectors, we turn to machine learning…" (Blog at Airbnb). Join us for Fighting Fraud: Predictive Technology to the Rescue? – Part 3.

Transcript

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0:00.0	Welcome to the most nutritious hour of business talk all week.
0:13.7	This is Coffee Break with Game Changers, presented by SAP.
0:17.6	The best run business is run SAP.
0:20.2	Your host and moderator is Bonnie D. Graham. You'll hear from
0:23.1	the innovators who have learned to use game-changing technologies to shake up the status quo and help move
0:28.3	today's businesses in new directions. Now, here's Bonnie D. Graham. Welcome, welcome, welcome. And if you
0:34.7	want to run with the game changers, you're in the right place.
0:38.0	Today's buzz, this is a big one, fighting fraud. Are you still?
0:42.9	Hmm, let's get started. As hard as you work to implement effective anti-fraud processes, guess what?
0:49.1	There are greedy, savvy, dedicated, persistent fraudsters. I have so many more adjectives. And they're working harder
0:56.0	and maybe even smarter than you are to thwart you at every turn. Well, predictive analytics
1:01.6	technology may be the answer. It can help you understand the emerging fraud patterns. Those are the
1:06.8	ones just starting to come down the pike, peeking up over the horizon, and adapt against
1:11.8	new types of attacks. But as good as the tools are, they're only good if you know how to use
1:18.0	them. And there's even a bigger question, what will it take for your company's leadership
1:22.5	to make predictive a priority? The experts speak. I've got a great panel. They're all veterans of
1:28.5	SAP Coffee Break Radio. Delighted to have them back. Let's kick off with Derek's native.
1:33.7	He's a senior manager in Advanced Analytics with Deloitte Transactions and Business Analytics.
1:39.4	And Derek sent me a quote from Plato. I think this is Plato's first appearance on SAP Radio. And the quote is as follows. The beginning is the most important part of the work. Welcome, Derek. How are you? Doing great, Bonnie. Thanks again for the invite.
1:54.4	Thank you for coming back. Talk to me. Interesting quote. Yeah. So, you know, Bonnie, I was thinking on our previous shows together we
2:01.6	had covered the challenge that fraud poses and also discussed potential enterprise
2:05.7	fraud management and continuous monitoring solutions and I was thinking that
	...

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