|[December 03, 2012]
SAS Expands Offerings to Detect Fraud, Recover Funds
CARY, N.C. --(Business Wire)--
Industries and agencies struggle to combat money laundering; organized
fraud rings; claims & payments fraud; and fraud and improper payments
across social benefit, employment, and tax programs. To help customers
win the battle, business
analytics leader SAS (News - Alert) is expanding its Security
Intelligence initiative, creating a new R&D division focused on
solutions and capabilities for fraud and compliance.
SAS' leadership in anti-fraud and security software is evidenced by a
variety of awards and analyst validations. In addition, 2012 brought a
22 percent growth in customers
choosing SAS® for anti-fraud, compliance and security
efforts. Fraud, compliance and security teams grew 165 percent this year
driven by the hiring of domain experts to support customer demand.
"Security and fraud risk exposure is increasing as organizations are
threatened at multiple points of vulnerability," said Avivah Litan, VP
and Distinguished Analyst at Gartner (News - Alert). "Companies are reevaluating how
they tackle security since a fragmented approach is consistently leaving
organizations at greater risk of attack. A more holistic approach to
security ensures all layers of protection function together."
SAS is increasing focus in this space and created the new SAS R&D Fraud
and Compliance Solutions Division to address the need for enterprises to
detect multichannel fraud and regulatory non-compliance. These shared
development resources are valuable when supporting integrated components
on a common technology foundation.
SAS will enhance existing products with the power and speed of SAS
in-memory, streaming and distributed computing technologies and develop
new industry leading solutions for fraud, compliance and security. The
team also plans to expand offerings to help other industries such as
utilities and telecommunications with fraud, compliance, and security
The first of those solutions, SAS
High-Performance Anti-Money Laundering (available in first quarter
2013) provides super-charged scenario tuning using SAS Visual Analytics.
Time frames to run what-if scenarios are dramatically reduced from hours
to seconds, so investigators can more expediently identify and address
the most critical risks.
In Financial Services
Chartis Research estimates IT will spend $4.3 billion in 2013 fighting
financial crime. As banks and insurers turn to technology for aid, SAS
has expanded its portfolio for financial services to address fraud and
financial crimes. In addition to updating popular solutions such as SAS
Anti-Money Laundering, SAS
Enterprise Case Management and SAS
Fraud Framework for Insurance this year, SAS introduced the SAS
Financial Crimes Suite. The offering consolidates multiple SAS
foundational technologies for detecting, preventing and managing fraud
and compliance including high-performance analytics for fighting money
laundering and terrorist financing.
Fraud management solution sales in banking are up 20 percent for the US,
reflecting continued investment in enterprise fraud management solutions
that protect banks and their customers across all transaction types and
Fraud Framework for Insurance was recognized by leading insurance
advisory firm Strategy Meets Action (SMA (News - Alert)) in September with its SMA
Innovation in Action award, which spotlights new technologies that help
modernize, optimize and innovate insurance practices. SAS Fraud
Framework for Insurance increases investigation efficiency and
investigator accuracy for leading insurers such as CNA.
State and local governments recognize fraud and improper payments as key
areas for increased revenues and cost avoidance. Los Angeles County
uncovered more than 200 probable fraud cases and busted ongoing
conspiracies to defraud the California Work Opportunity and
Responsibility to Kids (CalWORKs) Child Care benefits program. LA County
is expanding its fraud fighting efforts to the In-Home Supportive
Services Program. SAS received a Best Fit Integrator Award from the
Center for Digital Government for its work in L.A. County.
Casey Family Programs, for a project with Virginia Department of Social
Services and the Office of Comprehensive Services, licensed the SAS
Fraud Framework for Government, including SAS Social Network Analysis
(SNA), to mitigate risk, support compliance efforts and perform outcome
analysis of services provided to at-risk youth throughout the
Commonwealth. Casey Family Programs is the largest U.S. operating
foundation focused entirely on foster care and improving the child
The New York City Mayor's Office of Policy and Strategic Planning
licensed the SAS Fraud Framework and SAS SNA, and is using SAS to
uncover illegal conversions of buildings and apartments to add more
rooms, which is a safety concern. Also, SAS is combining 3-1-1 call
system data with possible illegal conversion information to help the
Department of Buildings prioritize inspections. Many U.S. cities use
3-1-1 systems to handle non-emergency service calls.
On the federal side, the US government licensed SAS fraud technology to
detect internal threats. SAS and Capgemini (News - Alert) are collaborating
to provide revenue fraud and improper payment protection to public
sector organizations in Europe, India and Asia Pacific. Together,
Capgemini and SAS already provide the UK tax authority HM Revenue &
Customs with strategic risk analytics to tackle fraud and manage debt.
Capgemini will also implement SAS Business Intelligence and SAS
Analytics for the Maharashtra Sales Tax Department (MSTD) in India.
In Health Care
Health payers lose more than $260 billion annually to fraud, waste and
abuse. As criminals and crime rings become more advanced, so does the
powerful analytics in SAS
Fraud Framework for Health Care. Horizon
Blue Cross Blue Shield of New Jersey and Blue Cross and Blue Shield
of Rhode Island use SAS to identify fraud and take action. Health plan
customers can tailor SAS data models to connect the dots rapidly and
efficiently. As in other industries, identifying fraud early is
essential in the high-stakes health plan environment.
"SAS' advanced network analysis enables us to identify crime rings in
unique ways," said Julie Malida, Principal for Health Care Fraud at SAS.
"The SAS Fraud Framework for Health Care uses text analytics to bring
medical records, free-form claims text, call-center logs and customer
service records into the analysis. Because much valuable health care
information lives in unstructured text, SAS can help plans like no other
The SAS Fraud Framework for Health Care employs rules, anomaly detection
models, predictive models, text mining and network analysis to quickly
spot fraud schemes, dig deeper and illuminate relationships among
Learn how leading organizations and institutions prevent fraud in the
digital age in Intelligence
Quarterly's Fraud Prevention issue. (http://www.sas.com/apps/sim/redirect.jsp detail=SIM100594_3768)
SAS is the leader in business
analytics software and services, and the largest independent vendor
in the business intelligence market. Through innovative solutions, SAS
helps customers at more than 60,000 sites improve performance and
deliver value by making better decisions faster. Since 1976 SAS has been
giving customers around the world THE POWER TO KNOW®. SAS
and all other SAS Institute Inc. product or service names are registered
trademarks or trademarks of SAS Institute Inc. in the USA and other
countries. ® indicates USA registration. Other brand and product names
are trademarks of their respective companies. Copyright © 2012
SAS Institute Inc. All rights reserved.
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