Question

Create a problem statement for the Prevention of Fraud. You should refine and thoroughly discuss the topic problem. It should be one page long.

Answer 1

The growing complexities of state-sponsored terrorism, professional criminals and basement bad guys are becoming harder to understand, follow, expose and prevent. Fraud detection in today’s world require much more complex techniques to carefully design and assess activities to match data points. People who attempt to fraud have adopted new technology and stay ahead in updating from time to time to learn new ways to stay in system and game it.

To identify and stop an array of fraud attacks and crime quickly and accurately – while improving customer and citizen experiences – organizations should follow some critical steps:

1. Capture and unify all available data
2. Continually monitor
3. Instill an enterprise wide analytics
4. Employ layered security techniques.