Internal investigation is an important part of handling certain problems that cannot be resolved informally in the company. Incomplete or flawed investigations can cause employees or certain parties to be vulnerable to unfair claims or have an impact on the financial loss and reputation of the company. Like IBM experienced in...
Artificial intelligence (AI) will obviously be something big in the future, including in the field of fraud detection, for example in e-commerce, banking and other business types. AI is a valuable tool against fraud, but this technology still needs human input and insight in creating comprehensive solutions to deliver the...
In mid-2017, the world was struck by the leaking of financial documents called Paradise Papers that revealed the secret investments of rich people around the world, including rich people in Indonesia, in the tax haven area through the Offshore Financial Centers (OFCs). The negative image as money launderers has been...
The global insurance industry is the world’s largest business sector with an annual turnover of US$ 4.6 trillion and an asset portfolio of US$ 25 trillion based on Berkeley Lab data. However, insurance fraud is also a world problem that costs insurance companies up to millions of dollars. Along with the advancement of...
In September of 2017, United States citizens were surprised by the hacking of Equifax, the company's provider of reports and credit scores. A total of 143 million credit card user data was exposed, which includes the cardholder's name, social security number, birth date, address, and driver's license number. The attackers exploited...
The corruption issue has attracted world’s attention as the rise in corruption cases that ensnare the public and private sectors. The World Bank Group considers corruption as one of the biggest challenges to alleviate poverty by 2030. One part of corruption is bribery, which paid about USD 1 trillion annually...
Fraud has always been a challenge for financial institutions, especially with the development of the digital world. Digital innovation opens more opportunities for fraudulent acts and brings threats to a higher level that made financial institutions become more vulnerable to such threats. However, like two sides of a coin, as there...
