The Association of Certified Fraud Examiners estimates that a typical organization loses five percent of its annual revenue to fraud every year, with banking, manufacturing, and government being the industries that are most affected. Some of us are very familiar with phishing schemes, work from home scams, advance fee scams, and other mass marketing fraud schemes, and these regularly make consumers victims of fraud, particularly with the rapid proliferation of internet based fraud schemes. Most problematic is that oversight proves to be intensely difficult due to the variety, sophistication and complexity of some of these schemes.
Intuidex Higher Order Learning technologies have been employed in identity theft detection efforts, and identify patterns and recurring attributes of fraudulent activity by running analyses on the deluge of transactional data, mass media messages and internet behavior. Moreover, as schemes become more sophisticated and modify their modus operandi, Watchman Analytics™ has the ability to monitor and recognize this shift in behavior and flag this in its reporting.