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UK public sector can harness big data to tackle £20.6 billion lost through fraud


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2014-02-20 12:56:17 - SMi’s Using Big Data to Detect and Reduce Fraud masterclass - hosted by Fraud Consulting will take place on the 9th April in London

With the UK public sector losing £20.6 billion a year to fraud - equivalent to more than a third of total spending by the Department for Education - global business analytics leader SAS has called on the sector to enforce its zero tolerance approach to the problem by harnessing the power of big data. Big data analytics have been highly effective in preventing losses through fraud, including detection of organised crime. The Belgium government for example has been combatting carousel fraud. An advanced analytics technique was used to expose even the hardest-to-find fraudsters. With this approach, the Belgian government saves nearly 1 billion euros each year – a reduction in fraud losses of nearly 98 per cent.
(Source: SAS.com, UK public

sector can use big data to tackle £20billion lost through fraud, 2013)
Delegates of this masterclass will be introduced to the current fraud and cybercrime landscape which is having an impact to both public and private sector organisations worldwide. Through a series of interactive discussions by Fraud Consulting, delegates will learn how the proceeds of fraud is funding global criminal activity and understand the motivations behind the networks that are collaboratively causing disruption to websites, business operations, and critical infrastructure.

Key benefits to this masterclass are:
Attendees will benefit from understanding the core principles and issues surrounding the use of Big Data for fraud risk management and will leave with valuable knowledge on how to best implement fraud strategies that incorporate Big Data. Through group discussions and networking sessions attendees will also be empowered with the ability to collaborate with thought leaders in the field.

For more information and full programme details please visit: www.smi-online.co.uk/2014device-design3.asp


Contact Information:
SMi Group Ltd

2nd Floor South, Harling House
47-51 Great Suffolk Street
London
SE1 0BS
United Kingdom

Contact Person:
Dan Lee
Marketing Executive
Phone: +44 20 7827 6078
email: email

Web: www.smi-online.co.uk/2014device-design3.asp



Author:
Daniel Lee
e-mail
Web: www.smi-online.co.uk/
Phone: 02078276078

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