http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Detica Netreveal Press Release RSS Feed]]> 2010-09-07T07:44:18+01:00 Zend_Feed http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Banks' anti-fraud measures a top concern for US customers]]> 2010-07-15T00:00:00+01:00
The survey polled a representative sample of more than 1,000 U.S. residents between the ages of 18 and 64. Participants were asked to rate their concerns on a number of fraud-related retail banking issues, including personal fraud risk, previous fraud experience and perceived responsibility. Among the respondents, 48 percent indicated they were fairly or very concerned that their bank accounts could be at risk of fraud. A majority, 61 percent, felt the responsibility for protecting their accounts from fraud fell predominantly with their banks.

In contrast, only 46 percent felt their banks had armed them with information and advice to keep their accounts safe from fraud. Of those who had a recent experience with actual or suspected account fraud, only 37 percent were completely satisfied with the way their banks handled the incidence.

Additionally, 33 percent felt more at risk to fraud than ever before, a percentage mirrored by those in favor of banks increasing charges to improve anti-fraud efforts. 

"Customers are frequently unaware of the impact fraud can have on their lives until it happens to them said Wesley Wilhelm, senior analyst, Aite Group. "It's not uncommon for customers to have a limited understanding of all the various measures banks take to safeguard personal financial information. It is understandable that consumers would want as much information as possible while not wanting any security controls to be revealed to identity thieves. It is still the customer's responsibility to inquire about and understand how they can assist in implementing and enhancing the anti-fraud initiatives of their financial institutions. It is ultimately their accounts that are at risk and their assets and financial identity that are under attack. 

The survey was commissioned by Detica NetReveal® to provide a representative snapshot of the U.S. retail banking fraud landscape and to highlight the importance customers give to effective fraud prevention solutions to protect them from the risk of financial crime. 

About the research 

Detica NetReveal® commissioned MORI Ipsos to survey a representative sample of 1,015 adults. Interviews, exploring attitudes towards banking fraud were conducted online between 16 April and 19 April 2010. A full copy of the research is available upon request.

About Ipsos MORI

Ipsos MORI is part of the Ipsos Group, a leading global research company. With a direct presence in 60 countries our clients benefit from specialist knowledge drawn from our five global practices: public affairs research, advertising testing and tracking, media evaluation, marketing research and consultancy, customer satisfaction and loyalty. For further information: http://www.ipsos-mori.com

About Detica NetReveal®

Detica NetReveal is a revolution in fraud detection. By uncovering the hidden relationships between people and data, Detica NetReveal® can detect both simple opportunistic and large-scale organized fraud currently hidden within an organization's systems. In addition, by running high-speed checks at the point of application, Detica NetReveal® can help companies to stop fraudsters before they become customers. For further information, please visit www.deticanetreveal.com  ]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[BAE Systems teams with Microsoft to showcase security technology]]> 2010-06-07T00:00:00+01:00 CANBERRA, Australia
The Microsoft Surface is being used to showcase Detica NetReveal technology which has revolutionised the detection of fraud and organised crime.

Detica NetReveal is used by global banks and insurers, government and law enforcement agencies to fight against a range of criminal threats.

In the financial services sector, Detica NetReveal is an enterprise fraud management solution which uncovers networks of suspicious behaviour by identifying and scoring networks of customers and accounts across an organisation's complete portfolio of products and brands.

In the government sector, it enables agencies to generate intelligence that will identify and counter those who threaten the safety of the public, the security of the state or that seek to commit serious and organised crime.

The Microsoft Surface TM is a revolutionary surface computing platform that displays content on a 76cm (30 inch) tabletop screen using hand gestures and real world objects. It helps customers interact with technology in a way that is simple, intuitive"and unprecedented.

"Bringing together the two technologies is about changing the way we think about interaction with information. The surface gives us the ability to interact with a computing platform in a tactile way, using our hands to bring out and orient information on a flat plane in a manner that resonates with the way we think," explains Simon Langsford, General Manager for Intelligence & Information Systems with BAE Systems Australia.

"Similarly the NetReveal technologies are about changing volumes of data into information that a true intelligence professional can use effectively. Together these technologies change the way we interact with information and the manner in which we visualise and manage threats," Mr Langsford said.

"Microsoft Surface is really shifting the way we think and interact with technology and its multi-touch features enable BAE to interact more naturally with their NetReveal data and information allowing for easier collaboration," says Louis Rago, Defence and National Security Lead, Microsoft Australia.

What: Demonstration of Detica NetReveal on The Microsoft Surface
When: Tuesday, 8 June 2010 at 11.00am.
Where: BAE Systems Stand (booth 89 & 90) Security in Government Conference - National Convention Centre , Canberra

About BAE Systems
BAE Systems is the premier global defence, security and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, security, information technology solutions and customer support services. With approximately 105,000 employees worldwide, BAE Systems' sales exceeded 18.5 billion (US $34.4 billion) in 2008.

 

For more information contact:

Kaija Balodis, BAE Systems Australia
Tel: +61 (0) 8 8480 7002, Mob: +61 (0) 431 658 897
kaija.balodis@baesystems.com  

John Neilson, BAE Systems
Tel: +44 (0) 1252 384795
john.neilson@baesystems.com  

 

]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Accelerating customer demand for Detica NetReveal enterprise fraud risk management solution drives market expansion]]> 2010-05-26T00:00:00+01:00 MCLEAN, VA, MAY 26 2010: Due to significant and fast-growing U.S. license sales and implementations Detica has announced that it is opening a new office facility in McLean  VA. This expansion will provide enhanced local support to organizations that want to leverage the Detica NetReveal fraud and risk management solution. To support this development, the company has appointed Richard Colven to head its U.S. operations.

The Detica NetReveal solution is a unique enterprise fraud, intelligence and risk management offering. In addition to traditional analytics, Detica NetReveal uncovers networks of suspicious behavior to reveal the hidden relationships between people and data that cannot be found using conventional detection systems. Detica NetReveal provides a single view of customers and scores individuals, applications and behaviors across an organization's entire portfolio of products and brands. By uncovering these connections, users are able to identify and prevent previously undetected fraud, significantly increase investigator efficiency, support regulatory compliance and dramatically reduce false positives.

The Detica NetReveal solution is already deployed globally at top banking and insurance companies and within many government departments. These organizations have selected Detica NetReveal to help them reduce criminal activities by catching cross-channel fraud that would traditionally remain undetected.

Richard Colven, Head of US Operations, says:

"Our customers realize that fraud is becoming more organized, complex, and sophisticated, and we are rapidly expanding our solutions footprint in the United States to meet that challenge. Detica NetReveal is proven in global deployments at many of the leading financial services organizations, and we look forward to expanding our existing client relationships and meeting the growing market demand in the U.S."

About Detica NetReveal

Detica NetReveal is a revolution in fraud detection.  By uncovering the hidden relationships between people and data, Detica NetReveal can detect both simple opportunistic and large-scale organized fraud currently hidden within an organisation's systems.  In addition, by running high-speed checks at the point of application, Detica NetReveal can help companies to stop fraudsters before they become customers.

For further information, please visit www.deticanetreveal.com

Detica, Detica Consulting LLC and Detica Limited product names are registered trademarks or trademarks of Detica Limited in the UK and in other countries.  Other brand and product names are registered trademarks or trademarks of their respective companies.  Detica Limited is registered in England under number 1337451 and has its registered office at Surrey Research Park, Guildford, England, GU2 7YP.

Detica Limited, 2010.  ALL RIGHTS RESERVED

About Detica

Detica specialises in collecting, managing and exploiting information to reveal actionable intelligence. We use this capability to help government and commercial clients reveal intelligence, maintain security and strengthen resilience in today's complex operating environment. We also use our skills to assist clients with other information-intensive problems such as achieving regulatory compliance and understanding customer behaviour.

Detica is a BAE Systems company. www.detica.com.

]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Detica's international cyber security reputation expands with visit from South Australian Premier]]> 2009-08-25T00:00:00+01:00
Premier Rann's visit closely followed Gordon Brown's high-profile tour of Detica in July 2009, after he announced the launch of the UK's first Cyber Security Strategy. Like the UK Prime Minister, Premier Rann and his colleagues received an update on current cyber security threats and a demonstration of the company's cutting-edge cyber security solutions in NerveCentre™, Detica's state-of-the-art demonstration facility. The VIP visit comes nearly a year on from when Detica joined BAE Systems as a key part of the Group's growing focus on global security, especially in the US, Australia and UK. Detica has taken a leading place at the forefront of BAE Systems' cyber security efforts.

Martin Sutherland, Managing Director of Detica, said: "We are hugely honoured to host Premier Rann and to have the opportunity to discuss the challenges associated with cyber space and demonstrate the innovative technological solutions that Detica has pioneered to make cyber space a safer place. As a BAE Systems company, we are growing our capabilities to meet this challenge and we are delighted to see our thought leadership on this subject is becoming increasingly visible on the international political stage. By its very nature, cyber security is a global issue and requires significant international engagement, cooperation and commitment from world leaders to combat the critical risks we all face."

Premier Rann said: "It was extremely interesting to tour Detica and hear the company's thoughts on the emergent challenges in cyber security. While the Internet can bring significant benefits to the global community, it can also facilitate significant threats such as serious and organised crime. Cyber security is becoming an increasingly international issue that we must address in a balanced way to deliver effective services to citizens and customers while protecting them from harm."

As part of the demonstration of its cyber security solutions, Premier Rann received a briefing on cyber security and the emerging challenges. He was also shown the impressive capabilities of Detica's market leading solutions, with a demonstration of Detica NetReveal, groundbreaking crime-busting software that uses social network analysis to fight fraud and serious crime across the insurance, financial services and government sectors. This was showcased alongside Detica StreamShield, which uses ultra-high performance technology to provide integrated, Internet-based protection for email, web and other Internet applications in order to make the Internet a safer place for everyone.Premier Rann's visit to Detica in the UK was arranged by BAE Systems Australia, which has its headquarters in the Premier's state of South Australia.]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[RBS Insurance and Detica NetReveal win prestigious industry award]]> 2009-07-30T00:00:00+01:00 http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Detica hosts the Prime Minister as the UK Government launches its Cyber Security Strategy]]> 2009-06-25T00:00:00+01:00
On the day that the UK Government launched its much-anticipated Cyber Security Strategy, Detica, the information intelligence specialist, played host to Prime Minister Gordon Brown, Secretary of State Alan Johnson and Lord West, Parliamentary Under-Secretary for Security and Counter-Terrorism.

The Prime Minister and his colleagues came to NerveCentre™, Detica´s state-of-the-art demonstration facility, where they received an update on current cyber security threats and demonstrations of the company´s cutting-edge cyber security solutions, including StreamShield® and Detica NetReveal®.

Martin Sutherland, Managing Director of Detica, said: "I have no doubt Detica´s industry reputation as the pre-eminent UK player in the cyber security market was a major factor in the Government´s decision to visit our facility.  With our unrivalled industry track record, hugely talented people, world-class solutions and demonstrable thought leadership, Detica is a major force in the cyber security arena.  We are delighted to act as hosts for this important event."

At the conclusion of his visit, the Prime Minister commented to the assembled press: "I think everybody knows the Internet has expanded massively, information is flowing around the world, citizens are in danger of being victims of organised crime and there are potentially terrorist attacks on our country, so we are setting up the strategic unit to look at cyber security" Some terrorist groups are using the Internet in a wholly exploitative way, and of course we´ve got to be aware of any threats to our country, so this is a national strategy about protecting Britain."

Sutherland commented: "Detica strongly welcomes this engagement from the UK government on its ambitious programme to improve cyber security.  While there is no way of completely eliminating all the risks associated with cyberspace, there are innovative technological solutions and proven security management processes that can reduce these risks significantly and in a way that still maintains the economic and social benefits of cyberspace.  The programme announced today will require a strong partnership between government and industry, as well as extensive international engagement.  If the commitment is there, and the necessary funding, we believe this programme will make a substantial difference in ensuring that cyberspace, and hence the public, becomes safer and more secure.  As well as helping to deliver the "Digital Britain" vision, this will also enable the UK to create a world-beating capability in cyber security that can be exported to a global market."

Sutherland concluded: "Our guests expressed a great deal of interest in what they saw and heard, and no doubt left with an extremely favourable impression of our company and the significant contribution we make to UK security."]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[RSA selects Detica NetReveal® to beat insurance claim cheats]]> 2009-05-26T00:00:00+01:00 Detica, the business and technology consultancy, today announced that RSA, the FTSE 100 global insurance group, has purchased a Detica NetReveal®  licence, together with related professional services, to complement and enhance its existing portfolio of fraud detection systems.

RSA will be using Detica NetReveal®  for the detection of claims fraud across its personal and commercial motor insurance and home insurance business in the UK. The groundbreaking technology may also be extended to cast an even wider net across the insurance group's liability and commercial property lines of business.

John Beadle, UK Counter Fraud Manager at RSA, comments: "We chose Detica NetReveal®  following an extensive review of potential providers plus the successful completion of a 'live' trial that resulted in substantially improved fraud detection rates."
 
Andy Cobb, Director of Business Development for Detica NetReveal®, comments: "We are delighted that RSA, one of the world's leading insurance groups, has chosen our solution.  Using the latest version of Detica NetReveal®  we will not only accelerate offline investigations but also take fraud prevention a step further by performing live screening of new claims against pre-scored criminal networks.  We are delighted to continue to offer our commercial clients the fruits of over thirty years of developing solutions to some of the most complex security problems."

]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Smarter international border control is within our reach, says Detica]]> 2009-04-27T00:00:00+01:00
In his address to the 'Policing the Borders' conference held in London today, Imam Hoque, Senior Director and Head of Detica's Technology Innovation Group, sets out the challenge. "While globalisation has caused a dramatic increase in cross-border travel and trade, it also presents a significant risk to domestic security. Trans-national organised criminal networks involved in illegal immigration, smuggling, tax evasion, drug running and terrorism are exploiting the increased movement of people, goods and money across international borders. Facilitating legitimate travel and trade, while preventing those who might cause harm by entering a country, calls for nothing less than a transformation in border management."

The issue, according to Hoque, is that the situation has become increasingly complex. "The scope of border management has extended from the border itself to areas both before and beyond the traditional physical boundary. Meanwhile, the relentless advance of the digital revolution means there is now a cyberspace border to protect as well as real-world land, sea and air frontiers. Perhaps most significantly, embracing a truly risk-based approach is proving to be a major challenge for many border management agencies. Despite implementing new screening processes, there is still scope for generating better quality intelligence for risk-based targeting of people, goods and transportation. Otherwise, time can be wasted pursuing targets that turn out to be no threat at all - the so-called 'false positives'.

The solution, according to Hoque, is for those responsible for risk-based targeting to exploit the latest innovations in intelligent high volume data analysis. This echoes remarks made a few days earlier at the World Customs Organization's 2009 conference in Marrakesh, where the Moroccan Minister for Economy and Finance, Mr. Salaheddine Mazouar, remarked in his keynote address that: "The use of IT is crucial for facilitating trade and combating cross-border crime". However, Hoque issues the following caveat: "Although border protection agencies use a range of data mining methods to identify potential threats within large volumes of border movement data, these methods are in danger of becoming obsolete as criminals evolve their methods, collude with insiders and exploit false identities in order to operate below the radar".

To meet the challenges of 21st century border control, Detica has enhanced its pioneering social network analysis solution, Detica NetReveal®, with risk-based targeting modules for the screening of people, goods and transportation at international borders. This builds on Detica's unrivalled track record in helping large government and commercial clients deploy risk-based targeting to uncover large-scale fraud, money laundering and other types of organised crime.

Since its launch three years ago, Detica NetReveal® has quickly become the market-leading social network analysis solution. Detica NetReveal® is unique in the way it can exhaustively cross-reference billions of data records from multiple sources to identify patterns of links missed by traditional data matching techniques. Using Detica NetReveal®, border protection staff can now identify, understand and evaluate networks of collaborating individuals across disparate and often unconnected sources of data and so spot the elusive 'needle in a haystack'. Because Detica NetReveal® can cope with poor quality data due to either accidental or deliberate manipulation, this means it is no longer possible for criminals to avoid detection using variations in identity.

To tackle the challenges of cross-border data analysis, Detica NetReveal® has the added ability to identify highly unusual changes in behaviour as well as matching incoming data, in real time, against existing criminal networks in order to speed-up investigations. The system can also be extended to accommodate richer and more complex forms of 'unstructured' data such as biometrics, still and moving images, and written language.

"We now have the potential to revolutionise border control in the same way that we are revolutionising other industries", concludes Hoque. "Using Detica NetReveal® we have made investigations up to five times more efficient, reduced false positives to one-tenth of what they were and, through unearthing new criminal networks, yielded ten times more crime to be detected. Through the right mix of technology, organisation and process, we can now empower and support border protection staff. Border management agencies will then be in a stronger position to implement intelligence-led policing, make better-quality interdictions and, ultimately, achieve more with less."

1 Source]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Detica and CEOP launch new collaborative partnership to fight online child abuse]]> 2009-03-13T00:00:00+00:00
Detica brings an unrivalled track record - extending over thirty years - of developing advanced technologies for capturing, storing and analysing high volume, high speed and wide-ranging data at exceptional levels of performance. Its innovative solutions - such as Detica NetReveal® and TxtReveal™ - are used by government departments, major commercial organisations, law enforcement and intelligence services to identify organised criminal networks and unlock information on serious criminal behaviour held within large volumes of computer data.

"Partnerships are essential for providing a continuous flow of high quality expertise, experience and resources into our organisation," said Jim Gamble, CEO of the CEOP Centre and Chairman of the Virtual Global Taskforce. "We are therefore delighted to welcome Detica, the industry leader in information intelligence, as a partner who can help us explore and develop new innovations in identifying and shutting down online child abuse networks".

Martin Sutherland, managing director of Detica, commented: "The digital revolution has changed the rules of the game when it comes to detecting online child abuse networks. The explosion in data volume and complexity provides camouflage to predatory child abusers and can impede conventional approaches to data analysis. However heavily we invest, we will never keep ahead of the data explosion using tried-and-tested approaches to data analysis. Instead we must adopt an innovative approach that turns the data explosion on its head, exploits its new characteristics and enables us to move from chasing predatory criminals to detecting their online networks before they have a chance to establish them".

In addition to its world-leading expertise on intelligent data analysis, in particular teasing apart and simplifying the tangled web of fake identities used by online criminals, Detica will also provide CEOP with insight on how to best integrate and manage the huge variety of data formats that it has to analyse during an operation.

"Our partnership with Detica is a significant step forward in our work to track down and prosecute those who use the Internet to facilitate the sexual exploitation of children," said Gamble. "Any individual who thinks they can carry out online child abuse undetected in the huge flow of Internet data should think again. We are putting them on notice that the Internet is no longer a safe hiding place".]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Detica announces major enhancements to its crime-busting Detica NetReveal® solution]]> 2008-11-28T00:00:00+00:00
Detica, the business and technology consultancy, today launched Version 5.2 of Detica NetReveal®, a significant milestone in the development of its crime-busting social network analytics solution. As well as offering enhanced functionality, Detica NetReveal® is now fully independent of any third party statistical analytical package.

Detica NetReveal® Version 5.2 is the latest extension to the successful Detica NetReveal® portfolio - a suite of solutions designed to help government departments, major financial institutions, enforcement and intelligence services uncover the hidden relationships in their data. By using social network analysis to identify organised criminal networks with much greater speed and efficiency, it enables genuine customers to be processed faster and more effectively.

Since it was originally taken up by the UK's Insurance Fraud Bureau - leading to 74 arrests in the Bureau's first year - leading financial institutions and government departments, including HSBC, RBS Insurance and Her Majesty's Revenue & Customs (HMRC), have added Detica NetReveal® to their intelligence and counter-fraud armories.

Version 5.2 of this ground-breaking solution offers a range of new functionality including:

An entity-centric search facility, NetReveal Identifier®, which helps investigators search for specific entities (subjects or objects) within a network; a new facility for pinpointing the geographical positions of network entities on a satellite or street map; an enhanced task management facility, NetReveal Workbench®, for coordinating and streamlining investigation activities. In addition, Version 5.2 extends Detica's open architecture approach so that the software is now fully independent of any third party statistical analytical package giving customers greater flexibility, significantly reduced disk usage and lower cost of deployment.

Imam Hoque, Detica NetReveal® founder and CTO, says: "Version 5.2 demonstrates that we remain committed to listening to our customers and meeting their needs. With this latest release, customers will be able to achieve more with fewer products in their fraud and intelligence operations and so drive down the total cost of ownership. Our most recent customers have achieved a nearly 50-to-1 return on their investment in Detica NetReveal® Version 5.2". ]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Global insurance organisation selects Detica NetReveal® to fight financial crime]]> 2008-09-25T00:00:00+01:00
Detica NetReveal® is designed to help insurers detect more fraud with much greater speed, accuracy and efficiency, enabling genuine claims to be processed faster and premiums to be kept competitive. Its pioneering approach to fraud intelligence - spotting entire networks of fraudulent activity - has already proved successful in helping the UK's Insurance Fraud Bureau achieve an unprecedented number of arrests of the most serious organised cross-industry criminal gangs and a significant return on investment.

Andy Cobb, Director of Business Development for Detica NetReveal®, commented: "Our continued emphasis on developing powerful models for detecting financial crime across all insurance lines is reaping substantial benefits for insurers across the industry and brings particular benefits to global players as they standardise on a single resilient solution."]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Her Majesty's Revenue & Customs purchases Detica NetReveal® licence]]> 2008-09-20T00:00:00+01:00
Detica Group plc (DCA.L), the business and technology consultancy, today announced that Her Majesty's Revenue & Customs (HMRC) has purchased an enterprise-wide licence for Detica's market-leading counter-fraud and intelligence product Detica NetReveal®.

Imam Hoque, Detica NetReveal® Founder and CTO, said: "As a long-standing Detica NetReveal® client, HMRC's decision to move to an enterprise licence is a fitting testament to the proven capabilities of this revolutionary product. We look forward to continuing to roll-out market-leading solutions for them."

Detica NetReveal® is designed to help government departments, major financial institutions, enforcement and intelligence services uncover the hidden relationships in their data. It identifies fraud and broader criminal networks with much greater speed and efficiency, enabling genuine customers to be processed faster and more effectively. Its pioneering approach to fraud detection has already proved successful in helping organisations as diverse as HMRC, HSBC and the UK's Insurance Fraud Bureau.]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Recommended cash offer for Detica Group plc by BAE Systems]]> 2008-08-29T00:00:00+01:00 BAE announcement 29 August]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Recommended cash offer for Detica Group plc by BAE Systems]]> 2008-08-29T00:00:00+01:00 BAE announcement 29 August]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Recommended cash offer for Detica Group plc by BAE Systems ]]> 2008-08-29T00:00:00+01:00 BAE announcement 29 August]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Detica cracks credit abuse with Detica NetReveal® 5]]> 2008-03-05T00:00:00+00:00
LONDON, 5 MARCH 2008: Detica Group plc (DCA.L), the information intelligence specialist, today launches Detica NetReveal® 5, the next generation of its crime-busting social network analytics software. The groundbreaking solution - unveiled at the CIFAS "Fighting Application Fraud" conference today in central London - provides retail banks with one of the most powerful tools available to combat credit abuse and other forms of non-compliance.

Credit abuse networks are a growing problem for the retail banking sector and a source of increasing concern given the ongoing credit crunch. Variously known as "first party lending fraud", "sleeper fraud" and "bust-out fraud", credit abuse involves organised fraudsters making false statements on application forms in order to gain credit which they have no intention of paying back. As Andy Cobb, Director of Business Development at Detica, comments: "There is also a growing trend in credit applicants being manipulated by organised fraudsters even though they may not have made any material falsehoods. This high risk activity currently falls between the 'organised first party fraud' and 'bad debt' definitions being debated by the banking industry. We believe a better approach is to let the data drive the definitions, not the other way round - someone intends to take money from the bank and they need to be stopped".

Detica NetReveal® 5 is the latest extension to the successful Detica NetReveal® portfolio - a suite of solutions that utilises social network analysis to fight fraud and serious crime across the insurance, financial services and government sectors. The crime-busting capabilities of Detica NetReveal® grabbed the headlines last summer when the UK's Insurance Fraud Bureau announced that the software's sophisticated analytics had enabled it to expose insurance fraud networks leading to 74 arrests in the Bureau's first year. Since then HSBC and RBS Insurance have added Detica NetReveal® to their counter-fraud armouries.

Detica NetReveal® 5 takes fraud prevention one step further, enabling high-speed checks of credit applicants' details against pre-scored criminal networks during the live application process. Until today, banks lacked this pre-emptive analytical capability to identify fraudsters and credit abusers and prevent them from becoming customers. Furthermore, as well as working in the "front office" with new customer applications, Detica NetReveal® 5 also functions in the "back office" where existing customers are scored as they request additional credit facilities.

Cobb continues: "Detica NetReveal® 5 will give banks the most detailed view ever of the individuals to whom they are considering lending. Not only it is a breakthrough in preventing credit abuse, but its ability to explain transparently why a customer, application or linked-in network might be suspicious is unique in the field. We are delighted to be able to offer financial institutions the means of significantly improving the way they manage credit risk in these increasingly turbulent economic times."]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[RBS Insurance selects Detica NetReveal® to expose organised fraud networks]]> 2008-02-27T00:00:00+00:00
LONDON, 27 FEBRUARY 2008: Detica Group plc (DCA.L), the information intelligence specialist, today announced that RBS Insurance has purchased a Detica NetReveal® licence together with related professional services.

Following this agreement to purchase, Kate Lotts, Director of Specialist Claims Operations for RBS Insurance, commented: "RBS Insurance is at the forefront of adopting counter-fraud solutions for claims, and these tools add to our already powerful capability in this area."

Detica NetReveal® is designed to help insurers detect fraud with much greater speed and efficiency, enabling genuine claims to be processed faster and premiums kept competitive. Its pioneering approach to fraud detection - spotting hidden networks of fraudulent activity - has already proved successful in helping the UK's Insurance Fraud Bureau achieve an unprecedented 74 arrests of the most serious organised cross-industry criminal gangs and a significant return on investment.

Andy Cobb, Director of Business Development at Detica, says: "Detica NetReveal® is a revolutionary product, unique in its ability to pinpoint professional fraudsters that are often missed by traditional scoring products. This technology has consistently proven its ability to deliver significant benefit and we expect to continue rolling out Detica NetReveal® across our financial services and government client base." ]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[HSBC adds Detica NetReveal® Solution to retail banking fraud prevention portfolio]]> 2008-01-17T00:00:00+00:00
The Detica NetReveal® solution for Retail Banking, chosen by HSBC, enables banks to reduce their exposure to fraud by applying Detica's unique social network analysis and scoring technology. By identifying behavioural connections between accounts and customers not apparent to traditional systems, and taking an innovative approach to assessing overall risk, the Detica NetReveal® solution can detect a wider range of fraud not found using traditional scoring methods.

Brendan Pickering, Head of Group Fraud Technology at HSBC, says: "Our decision to purchase Detica NetReveal® was based on the significant return we achieved very rapidly from a pilot study. We are delighted to be working with Detica, a company with a strong background in innovative information intelligence solutions".

Andy Cobb, Director of Business Development at Detica, says: "We are delighted that HSBC, one of the world's leading global banks, has chosen our solution. We believe this supports our view that Detica NetReveal® is fast becoming the benchmark for combating organised fraud in the Retail Financial Services industry".]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Fraud is threatening the global reputation of the City]]> 2007-09-26T00:00:00+01:00
As the world's leading international centre of financial and business services (bigger in these terms than New York), London - and especially the City of London - risks being a honeypot for white-collar criminals. It is a billion-dollar problem rooted in our trillion-dollar success.]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Detica takes on the financial abuse challenge]]> 2007-06-18T00:00:00+01:00
Market surveillance has been made more demanding by the rise of algorithmic trading, complex derivative products and cross-border trading. Regulators believe they should shift their attention from individual to institutionalised wrongdoing, a fact supported by research which shows nearly 50% of market abuse is perpetrated by corporate insiders(1).

Trapping institutional traders who are insider dealing is increasingly difficult as their activities are hidden in huge volumes of daily investment transactions. In developing SABRE II, Detica will be taking on the formidable challenge of analysing, in real-time, trading across a diverse range of financial instruments and markets.

In addition to generating alerts based on known models of suspicious behaviour, SABRE II will also enable investigators to discover longer-term illegal trading patterns buried in the data. This will be underpinned by Detica's NetReveal™ technology which provides an advanced forensic analysis facility. As Simon Asplen-Taylor Head of Market and Regulatory Services in Detica, concludes: "At the end of the day this is all about intelligence. Intelligence in the sense of gaining a better picture of both individual and institutionalised market abuse, and intelligence in terms of taking a more enlightened approach to cracking this problem."

The FSA has also selected Detica to help them reach the MIFID deadline of 1st November 2007 for exchanging relevant transaction reports with its European counterparts. By the very nature of its design, SABRE II will support the principle of continuous improvement, helping the FSA to carry out its statutory role more effectively, in what is a rapidly changing business environment and regulatory landscape.

"What strikes you most about this is the sheer scale and complexity of the project, combined with an absolute go-live date of 1st November for the MiFID element of the project", comments Simon Asplen-Taylor. "The FSA has clearly invested a huge amount of trust in us."

(1) Source: Stock Market Manipulation - Theory and Evidence, R. Aggarwal and G. Wu, Tuck School of Business and University of Michigan Business School]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[FSA confirms market abuse intelligence system contract with Detica ]]> 2007-03-23T00:00:00+00:00
The Group can now confirm that it has signed the final contract regarding the provision of this solution.]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Darwinian view on claimants]]> 2006-10-12T00:00:00+01:00
He described the process as a type of "Darwinism" and admitted he found it "quite frightening" how fraudsters' techniques evolve.]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Linking data to combat organised crime]]> 2006-10-12T00:00:00+01:00 reports.]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Donald Mackenzie jailed]]> 2006-07-10T00:00:00+01:00
However, some UK banks are already looking to counter this kind of activity - to stop it before it happens and prevent the story becoming headline news.

Detica has been looking into the possibilities of laying staff data alongside customer/account data to uncover suspicious links. The results so far have been very interesting - particularly when combined with our Detica NetReveal solution that looks at detecting wider first-party fraud.

Detica NetReveal works by linking together networks of people, accounts and applications and scoring these as suspicious or otherwise - rather than scoring the individual elements on their own.

And as well as identifying external fraudsters, this kind of technique can be applied internally (for example, to see where one member of staff may be approving a suspicious number of similar applications from customers related to each other in a single network).]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Detica unveils NetReveal: A revolution in fraud detection]]> 2006-03-03T00:00:00+00:00
The NetReveal solution contrasts with traditional approaches to fraud detection, which are limited by their reliance on using rigid sets of rules to detect suspicious transactions at an individual level. Increasingly, fraudsters are hiding their activities by using multiple, disguised identities to perpetrate small and seemingly innocuous frauds, distributed across organisations on a massive scale. To combat this, NetReveal uses a series of new and advanced data analysis techniques to uncover the hidden relationships within social networks of people and data. The system allows investigators to view and interrogate suspicious networks of transactions, whilst it also prioritises the most suspicious networks.

In a ground-breaking project, the insurance industry recently pooled the data sources from UK insurers and formed the Insurance Fraud Bureau (IFB). Established to detect and deter serious and organised claims fraud across the UK, the underlying technology behind the IFB is NetReveal.

Imam Hoque, Director of Detica's Technology Innovation Group, commented, "The days are numbered for clever fraudsters that rely on hiding their activities below the radar screen of traditional anti-fraud systems. NetReveal is already proving to be a powerful system for discovering millions of pounds worth of previously hidden criminal activity. We believe that NetReveal offers the potential to uncover fraud in its billions, across a range of different industries."



* According to research conducted by Norwich Union in November 2005, fraud costs the UK £16 billion a year.]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[Detica wins groundbreaking fraud detection contract for UK insurers]]> 2005-11-25T00:00:00+00:00
The contract is focusing on distributed claims fraud, through which organised criminals make multiple, fraudulent insurance claims across many insurers. Under the contract, Detica will apply a series of advanced, new data analysis techniques to detecting patterns of fraudulent behaviour in huge volumes of claims data supplied to the IFB by UK insurers. These new techniques have been developed in-house by Detica's own Technology Innovations Group.

The contract will be run as a managed service, with Detica supplying fraud intelligence on an ongoing basis to an external team of insurance fraud investigators.

Richard Davies, Fraud Risk Manager, AXA Insurance commented, "We selected Detica for the quality of their analytical approach after an extensive review of competing suppliers. The consultancy's specialism in intelligence systems and experience of fraud detection across a range of different markets meant that they were ideally qualified for the role."

Richard Love, Head of Detica's anti-fraud team commented, "We are delighted to have secured this groundbreaking fraud detection project which places us at the vanguard of fraud detection in the European financial services industry. Our fraud detection approach is extremely powerful and is already finding applications beyond the financial services market".

Coinciding with the contract signing, Detica has released results from a MORI poll exploring public attitudes towards insurance fraud. A key finding of the research is that while most people think that a proportion of a typical insurance premium does go towards paying for insurance fraud, most overestimate the amount. More than half (54%) believe that fraud adds more than 10% to premiums, including 40% of people who believe this figure to be over 20%. In fact, the true figure is just 3.75% (source: Association of British Insurers).

Many can identify reasons that they think others would use to justify committing insurance fraud, such as poverty and debt (9%) or looking for payback on policies which they have never claimed on (14%). This could suggest that insurance fraud is seen as acceptable by some. However, around half (53%) believe that organised crime has at least "a fair amount" of involvement in funding or benefiting from insurance fraud - and the majority (71%) think that people might be more inclined to report incidents of insurance fraud if they believed a strong link to organised crime existed.

About the research

Detica commissioned MORI to survey a representative sample of the GB population of 1,003 adults on behalf of Detica. Interviews, exploring attitudes towards different types of fraud Ð including tax, benefit, identity and insurance fraud as well as the sale of counterfeit goods - were conducted by telephone between the 14th and 16th October 2005. A full copy of the research is available upon request.]]> http://netreveal.tmpsvr5.co.uk/news.html <![CDATA[2010 BAE Systems GXP International User Conference]]> 1899-11-30T00:00:00+00:00