Identity verification is instant and discreet

[rakhirhif8963]

To turn the tide, many government agencies have begun using facial recognition-based identity verification. However, some have had to reconsider this approach due to concerns about bias, privacy, and access. Fortunately, there is a more holistic analytics approach that uses data sources that do not have the bias and access issues associated with digital devices, IP addresses, mobile phone numbers, and email addresses.

, identifying potential fraud while reducing the burden on citizens seeking, for example, legal benefits. Only if something suspicious is detected does the innovative solution offer additional actions, such as calling a phone number for verification.

The current fraud landscape has proven the need for organizations to be forward-thinking and proactive in developing their fraud prevention tools and capabilities. On a positive note, the majority (60%) of industry professionals surveyed by the ACFE said they expect their anti-fraud technology budgets to increase over the next two years.

Where will they focus their investments first? Advanced cambodia mobile database tops the list, particularly artificial intelligence and machine learning, cited by 26% of respondents. Predictive analytics/modeling is second, cited by 22%. These capabilities are a powerful force in improving the accuracy and efficiency of fraud detection, allowing them to do so in real time.

Regardless of whether an organization is far enough along its analytics journey, there is one universal anti-fraud principle that can help guide both leaders and laggards: data is a fraud fighter’s best friend.