IT Consultancy and software design
ltd have since 1998 been involved in the highly
specialized field of fraud detection and fraud detection
systems. Increasingly, financial institutions and businesses
do not include fraud detection as a part of their core
business and look outside the company for the level of
expertise required. There is a growing need for experts
in this area; we are therefore offering our services internationally.
Ours main services can be categorized as follows:
All fraud detection systems will at
some point in time need to be refreshed if they are used
correctly. This is self evident, the system is build on
historical data, and as new fraud patterns emerge, the
system will increasingly be unable to cope. But when does
this occur ?
We have over the years developed a method to measure the
performance of fraud detection systems. The methodology
used to detect fraud is not relevant here, it may use
artificial neural networks, fuzzy-logic, rules or it may
even be manual.
We help establish the guidelines and standards for the
client that determines at what level the fraud detection
system needs refreshing based on the number of frauds
The guidelines can then be compared to the values we calculate
in the performance analysis, which include:
· Card Detection Rate
· Transaction Detection Rate
· Volume Detection Rate
· Detection Delay
A typical performance graph:
Statistical research on your frauds
is essential when determining how, if necessary to attack
the problem. You need to know how much and how many, when,
where and if there are obvious patterns. We deliver a
detailed report and suggestions on steps to take.
For systems running artificial neural networks, we can
find the features most likely to be affective. Each feature
will be given in mathematical notation with a detailed
description and its correlation coefficients with fraud
specified. There may be anywhare from 50 to hundrads of
feature in a given system A typical feature can be expressed
For systems running on rules, we can find the ones most
likely to be affective. Each rule will be given in mathematical
notation with a detailed description and its correlation
coefficients with fraud specified. A typical rule can
be expressed mathematically e.g.
Fraud pattern research, fraud analyzes and rule or feature
finding are fundamental in all fraud detection methods,
we are also experienced in designing, developing and implementing
fraud detection systems and/or assisting in choosing the
right product for your organization.
Please do not hesitate to contact us if you think our
services will benefit your company.
Email us at email@example.com