Fraud is an ever-growing issue, which cost businesses $38 billion in 2015. Globally, organisations are taking steps to mitigate fraud in their own business, but approach the problem in isolation. Fighting fraud is an issue which affects all organisations, and to achieve the best results, it’s an issue which should be addressed in co-operation. Through collaborative, real-time data sharing and analysis, Fraud Bureau empowers organisations to work together to combat fraud faster and more thoroughly. It’s a proven model, and is the most effective method of detecting identity fraud and syndicate fraud.
“The results in Korea show the power of sharing data - $1 invested in Fraud Bureau gives a return in fraud loss savings of $75. That’s a pretty good investment. The knock-on effect is also a stronger economy – investors have more confidence to invest in a market which has industry co-operative and strong fraud prevention mechanisms in place.”
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