Data Analysis can Detect Fraud and Hacking
Fraud can be detected with thorough data analysis. In recent years, the number of people and businesses falling victim to fraud has increased at an alarming rate. As technology continues to improve, fraudsters are finding new and creative methods to continue their work. Fraudulent practices targeting businesses are growing at an alarming rate and are costing industries billions of dollars. In the insurance industry alone, $40 billion per year is lost as a result of fraud. The theft of money is not the only culprit; 36 percent of total loss due to fraud is directly related to business disruption and loss of productivity. Health care fraud estimated to cost over $500 billion. Cybercrime in 2013 cost an average $11.56 million per year. Fraud prevention requires innovative solutions that can both fight fraudulent practices and protect individuals and businesses from disruption and loss of productivity. This infographic by Stetson University describes solutions to the every growing fraud and hacking crisis. http://www.stetson.edu/online/macc/data-analysis-techniques-for-fraud-detection-infographic/
