McLean, VA, May 21, 2012- Centrifuge (www.CentrifugeSystems.com), a leading provider of Visual Network Analysis solutions, has been selected by the Mid-Atlantic Venture Association (MAVA) to present at its annual Capital Connection event on May 24, 2012 at the Omni Shoreham Hotel in Washington, DC. This event rewards 26 early expansion and growth-stage companies nationwide by giving them the opportunity to present their business model to an exclusive audience of business and industry leaders as well as investors.
A surge in fraudulent insurance claims has been one of many unfortunate consequences of the shaky economic climate in recent years. As news of a potential double dip recessions stokes fears once again in the U.K., emerging research suggests that advanced intelligence analysis tools may soon be called upon to combat an anticipated spike in homeowner’s fraud.
U.S. Attorney General Eric Holder and Health and Human Services Secretary Kathleen Sebelius recently announced the conclusion of a nationwide fraud prevention project that resulted in more than 100 individuals across seven metropolitan areas being charged for their involvement in an ongoing plot that netted $452 million in false billings. Officials credited data-driven intelligence analysis for its instrumental role in the largest single take down in the task force’s history.
Technological innovations originally spawned in the business community could soon find their way into the medical field, as a new report from KLAS Research suggests that healthcare providers are expressing an increased demand for business intelligence solutions ranging from real-time analytics to data visualization tools.
Unlike what the trend’s name may imply, big data is certainly not something that is reserved for large enterprises and corporations. Today, small and medium-size businesses are also feeling the crunch of increasingly growing data volumes, and are grappling with how to best take advantage of the opportunity.
Big data is a buzz phrase that is being talked about within the walls of companies operating in numerous industries. Never before have organizations produced information at such a furious pace, which is a trend that is presenting serious challenges but also untapped potential for those that utilize it appropriately.
Crime defrauds the U.S. government out of billions of dollars each year, and Texas Senator John Cornyn recently said he believes it’s time to put an end to the various schemes and plots that attack the system.
Speaking to the Houston Chronicle following a Senate Finance Committee hearing, Cornyn, a Republican, said the “integrity” of the nation’s Medicare system relies on the use of effective fraud prevention techniques. The senator alluded to the fact that a greater emphasis on cutting-edge fraud-fighting platforms could be the country’s answer.
Counterfeit prescription drug sales remain a threat to healthcare patients all around the world. In the United States, lawmakers have tried to address the issue by making it illegal to purchase medications from online pharmacies.
According to a New York Times column by Roger Bate, this is the wrong way to go about addressing and preventing the problem.
New measures and crime-fighting techniques have made it more difficult for fraudsters to steal identities and use the information for personal gain. Increasingly, however, criminals are looking toward other sources for the Social Security numbers, addresses and names needed to commit financial fraud.
It could be called a 21st century form of grave robbing, as the dead are now the latest to fall victim to identity thieves. New research from risk assessment solutions provider ID Analytics revealed that the personal information of more than 2.5 million deceased individuals is stolen and used to open credit card accounts each year.
Data analysis is increasingly being looked at as a key tool in the fight against fraud. As criminals are devising more sophisticated schemes aimed at avoiding detection, it’s important that fraud officials leverage cutting-edge technologies in order to root out illegal activity proactively.
According to a forthcoming report by the Association of Government Accountants, the time has come for more government organizations to view fraud detection through the lens of data analytics.
