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Hope or hazard? Generative AI takes center stage for Fraud Week 2023

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As anti-fraud pros and organizations across industries unite around International Fraud Awareness Week, Nov. 12-18, SAS examines how the rise of generative AI will impact the global fraud landscape

CARY, N.C., Nov. 13, 2023 /PRNewswire/ — As the sun rises on another International Fraud Awareness Week, Nov. 12-18, 2023, it shines on a world perhaps more fraud conscious than at any time in history. A recent consumer fraud study, based on a survey of 13,500 adults by AI and analytics leader SAS, revealed that:

Seven in 10 people have fallen victim to fraud at least once; 40% reported suffering fraud twice or more.A vast majority (86%) are more wary of fraud now compared to previously.Three-quarters are fearful of experiencing future fraud.

Experience the full interactive Multichannel News Release here: https://www.multivu.com/players/English/8827856-sas-international-fraud-awareness-week/ 

“Even as consumers signal increased fraud vigilance, generative AI and deepfake technology are helping fraudsters hone their lucrative craft,” said Stu Bradley, Senior Vice President of Risk, Fraud and Compliance at SAS. “Phishing messages are becoming more polished. Replica websites look stunningly like the ones they mean to imitate. It takes just $5 and a few seconds of audio to clone someone’s voice with readily available online tools.”

Turning the tide on fraudsters: ways to engage
With stakes so high, SAS is again joining forces with the Association of Certified Fraud Examiners (ACFE) and more than 1,000 supporting organizations around one goal: to curb fraud and its financial and social harms by driving anti-fraud awareness and education. Seize these complimentary opportunities to become more fraud savvy with SAS throughout Fraud Week:

SAS webinar: The Fraud Arms Race: How Governments and Fraudsters are Battling for Advantage. Tuesday, Nov. 14, 8:30 a.m. ET (and later on demand). Join public sector experts from SAS to explore how fraudsters are using generative AI and other innovations to exploit and plunder – and discover the latest countermeasures governments worldwide are using to stop them.Live Twitter/X chat: What’s Next? Fraud & AML Trends for 2024 (and Beyond). Thursday, Nov. 16, 9 a.m. ET. Will generative AI live up to the hype? How will today’s prevailing digital fraud trends influence the anti-fraud tools and strategies used in sectors like banking, government, health care and insurance? Join SAS’ Stu Bradley and other cross-industry fraud experts on Twitter/X for a lively #SASchat.ACFE webinar: Fighting Financial Crime in the Generative AI Age. Friday, Nov. 17, 11 a.m. ET. Open for the first time to ACFE members and nonmembers alike, the ACFE will align experts from SAS, Datos Insights and Unconventional Ventures to examine the threats posed by generative AI’s explosive growth – and how organizations can mitigate them. Nonmember participation is limited to the live broadcast (register here); the webinar will be available on demand to ACFE members starting Dec. 7.

Supporters can also lend their voices on social media to share fraud fighting tips and resources from SAS. Follow #FraudWeek on Twitter/X for real-world expertise and discussions on a variety of fraud topics, including global fraud trends, the impacts of generative AI (good and bad), digital and payments fraud, identity crime, claims fraud, tax compliance, social program integrity, health care fraud and cost containment, and more.

“Anti-fraud professionals can’t afford to ignore the scams and frauds coming to the fore in these challenging economic times – nor can the organizations that employ them afford to disregard the public’s changing expectations around fraud protection,” said ACFE President John Gill. “Keeping up with anti-fraud innovation will be critical across industries as fraudsters take advantage of generative AI and other emerging technologies.”

SAS’ research showed how important fraud protection has become to consumers. “Consider that nine in 10 consumers think organizations should be doing more to safeguard them from fraud, and that two-thirds said they would change service providers due to a fraud experience or for better fraud protection,” Bradley said. “These proof points – and the real-world gains achieved by SAS customers – underscore the tremendous potential of businesses’ anti-fraud investments to help them grow and flourish.”

Using AI to stop financial fraud in real time
Beyond serving as Italy’s national postal service, Poste Italiane is among the country’s leading financial institutions, providing banking, insurance and even telecommunications services to 35 million customers. Protecting the 11 million customers who interact with Poste Italiane each day from fraud, abuse and improper payments is a foremost priority for the 160-year-old institution. That’s why the company uses advanced analytics and AI from SAS to detect fraud more precisely.

“Machine learning techniques provide that layer of intelligence that allows us to identify risk situations, analyze them very quickly and intervene when necessary,” said Raffaele Panico, Head of Fraud Management and Security Intelligence at Poste Italiane. “We have reduced false positives by 40% and increased our ability to handle anomalies by more than 20%.”

On the e-money side, Panico reported that Poste Italiane’s fraud ratio dropped by 50% in just three months after the launch of the anti-fraud service. “This is an astonishing figure, especially when we consider that in the last two years fraud has increased by 90% worldwide,” said Panico.

Improving claims fraud detection with predictive analytics and real-time decisioning
Since 2016, HDI Seguros has collaborated with SAS to combat evolving fraud risks and improve the customer experience. Using SAS solutions, the Brazilian insurer has transformed its existing anti-fraud system in recent years with new predictive modeling and decisioning tools to better identify and mitigate shifting fraud threats in real time.

These ongoing anti-fraud modernizations have helped HDI reduce false positives while improving its fraud detection rates. The insurer reported a 43% increase in the number of frauds identified from 2021 to 2022.

“SAS brought technology that helped us analyze external and internal data for greater accuracy,” said Leandro Bordon, Director of Operations and Claims at HDI Seguros. “We are able to look at the relationship network of fraudsters and customers with more intelligence, as it involves the complex interconnection of several elements, such as location, contacts, credit score, damages reported in the claim and other information.”

Enhancing anti-money laundering (AML) and fraud surveillance capabilities
By deploying SAS® Anti-Money Laundering on cloud-native AI platform SAS® Viya®, Treezor enhanced its AML and fraud surveillance capabilities. The European Banking-as-a-Service (BaaS) leader, based in Paris, operates in 25 countries, serving more than 100 fintech and large business customers. It has processed more than EUR€58 billion in transactions and issued more than 4.6 million payment cards.

Treezor deployed SAS Viya for monitoring transaction compliance, facilitating systematic coverage of anti-money laundering/countering the financing of terrorism (AML/CFT) and fraud risks. All teams, from compliance managers to analysts, collaborate on the platform, benefiting from prioritized alerts, robust case management capabilities and audit trail precision.

“Treezor plays a pivotal role in AML/CFT vigilance by reinforcing its monitoring capabilities, offering security to its customers and their end customers,” said Adin Buhks, Chief Risk and Compliance Officer at Treezor. “We are the first BaaS player to partner with SAS, who helped us implement a state-of-the-art solution in a tight time frame. Our AML analysts quickly adapted to the new solution, and the network capabilities are a game changer.”

Fighting tax evasion in freight transport
The Department of Economy of the State of Goiás in Brazil adopted SAS technology – SAS® Enterprise Guide® and SAS Visual Analytics on SAS Viya – to combat tax evasion in freight transport. The initiative uses monitoring and AI technologies to cross-check tax data in real time. Optical character recognition (OCR)-equipped antennas throughout the state’s highways enable the department to track roughly 30,000 cargo trucks daily.

Within a month of deployment, the system generated 300 alerts of possible tax inconsistencies each day. By better identifying irregularities – e.g., forged invoices, missing electronic manifests mandated for freight transport vehicles, and cargo exceeding declared quantity – the department increased fines by 54% compared to the same month last year.

“This project has greatly changed the department’s operational efficiency, bringing benefits to society and increased transparency for the department,” said Giovana Amorim Zanato, Manager of Prospecting and Auditing for the Department of Economy of the State of Goiás. “We combined SAS technology with other technologies to prevent tax evasion and created something innovative to serve as an example for other states’ departments.”

About SAS
SAS is a global leader in AI and analytics software, including industry-specific solutions. SAS helps organizations transform data into trusted decisions faster by providing knowledge in the moments that matter. SAS gives you THE POWER TO KNOW®.

SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2023 SAS Institute Inc. All rights reserved.

Editorial Contact:
Danielle Bates
danielle.bates@sas.com  
919-531-1959
sas.com/news

 

 

 

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SOURCE SAS Institute

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Niutech at the Forefront: U.S.-China Circular Economy Forum Tackles “White Pollution”

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BEIJING, Sept. 20, 2024 /PRNewswire/ — On September 6, 2024, the inaugural U.S.-China Circular Economy Cooperation Forum was held in Beijing. The forum, guided by the U.S.-China Climate Action Working Group Circular Economy Task Force, was co-organized by the China Circular Economy Association and the US-China Business Council. The forum brought together approximately 460 distinguished guests from the National Development and Reform Commission of China, the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the Ministry of Ecology and Environment, the Ministry of Housing and Urban-Rural Development, the Ministry of Commerce, the General Administration of Market Regulation, the US State Department, the US Department of Energy and other government departments, as well as industry experts, business representatives and scientific research institutions of the two countries. As the domestic leader in continuous pyrolysis technology, Niutech was invited by the China Circular Economy Association to attend the forum and gave an insightful speech on the topic of waste plastic recycling, and the issues of ‘white pollution’ that can result from it.

Enhancing Quality and Efficiency in the Circular Economy with Innovative Forces

The forum was strategically designed to advance the goals outlined in the U.S.-China “The Sunnylands Statement on Enhancing Cooperation to Address the Climate Crisis” (hereinafter referred to as the Sunnylands Statement). It aimed to create a collaborative platform for the business community, social organizations, and research institutions from both countries to foster exchanges and drive tangible cooperation in the circular economy.  

Zhao Chenxin, Deputy Director of the National Development and Reform Commission, John Podesta, Senior Advisor to the U.S. President on International Climate Policy, Liu Zhenmin, China’s Special Envoy for Climate Change Affairs, Nicholas Burns, U.S. Ambassador to China, and Xie Zhenhua, former Special Envoy for Climate Change Affairs of China, attended the opening ceremony of the Forum and delivered a speech, and Xie Feng, Chinese Ambassador to the U.S., made a video message. Deputy Director Zhao Chenxin said that addressing climate change is a common cause for all mankind and cannot be separated from the cooperation between the two global forces, China and the United States.

The China-US Circular Economy Cooperation Forum, held as an initiative to implement the Sunnylands Statement, marked another significant milestone in China-US cooperation on the circular economy. This collaboration is crucial for both nations as they join forces to tackle the climate crisis. On the afternoon of September 6, the forum organized four parallel meetings, where representatives engaged in in-depth exchanges on topics such as using the recycling economy to reduce greenhouse gas emissions, promoting the application of recycled materials, addressing plastic pollution and enhancing recycling, and increasing the recycling value of waste in the context of new industries and consumption patterns.

Niutech: International Experts on Continuous Pyrolysis Technology and Pioneers in solving the global “white pollution” problem

Globally, hundreds of millions of tons of waste plastics are generated annually, yet only about 30% undergo recycling. Traditional physical methods are typically limited to high-value, single-category, and relatively clean waste plastics. However, repeated recycling can degrade the quality of the plastics. Chemical recycling, on the other hand, offers a transformative approach by converting waste plastics into high-value products or fuels through chemical processes, thus overcoming the limitations of physical recycling.

Pyrolysis technology, a cornerstone of chemical recycling, addresses the challenges associated with the material recycling of waste plastics. It is adept at processing various types of low-value, mixed, and contaminated waste plastics. The products of pyrolysis can be further processed to manufacture new plastics, achieving a closed-loop system where waste plastics are repurposed into high-value new plastics. This not only retains the material’s utility at a high level but also converts “white pollution” into a “white oil field,” signifying a major shift in the management and valorization of plastic waste.

At the forum, as the international expert in continuous pyrolysis technology, the corporate representative of Niutech shared the cases of waste plastic chemical recycling projects deployed with international giants BASF and Quantafuel in Denmark, Thailand and other countries. Niutech has developed its own pyrolysis technology and equipment, which they fully own the intellectual property rights to. This technology enables the transformation of low-value, mixed, and contaminated waste plastics—including various polymers such as PP, PE, PS, ABS—into high-quality fuel oil.  

The fuel oil derived from this process can undergo further refining into naphtha, a critical raw material in the production of new plastics. This advanced recycling process not only diverts plastics from landfills and the environment but also contributes to a circular economy by turning waste into a valuable resource.

In the future, Niutech will continue to champion the principle of “green, recycling and low-carbon” waste plastics pyrolysis. Armed with advanced technology, reliable equipment, abundant high-value solutions and proven experience, Niutech is committed to enhancing communication and cooperation with domestic and foreign partners. Together, they will drive forward the chemical recycling of waste plastics and the sustainable development of the global waste plastics recycling industry.

 

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Global Ultrasound Institute Launches GUSI Fellowships Platform: Elevating Point-of-Care Ultrasound Education

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SAN FRANCISCO, Sept. 20, 2024 /PRNewswire/ — The Global Ultrasound Institute (GUSI) is proud to announce the launch of the GUSI Fellowships Platform, an innovative online platform designed to empower learners around the world to achieve confidence and competency in point-of-care ultrasound (POCUS). With a holistic, device-independent approach that includes comprehensive evidence-based education, personalized mentorship from world-class POCUS educators, detailed scan review feedback, quantitative assessments, and CME certification, GUSI is setting a new standard in POCUS education.

“GUSI’s online didactics are the best that I have seen. And what I like most about the fellowship were the 1:1 sessions and being able to interact with GUSI expert faculty who have many years of experience in POCUS. And you get to pick their brains and they get to instruct you 1:1. I have used the training I received from GUSI to do much more POCUS clinically and further impact my patients lives.”

Dr. James Wilcox,
Assistant POCUS Director, Indiana University School of Medicine
Adjunct Professor and Assistant Professor of Medicine

“Our mission at GUSI is to democratize access to high-quality ultrasound training,” said Dr. Kevin Bergman and Dr. Mena Ramos, Co-CEOs of Global Ultrasound Institute. “The GUSI Fellowships Platform enables learners from diverse backgrounds to enhance their skills in a supportive, flexible environment, making it easier than ever to reach their POCUS goals.”

With training options covering 38 different scan types, learners can expect personalized 1:1 mentorship with expert POCUS educators who provide timely feedback on practice scans.

“The GUSI fellowship mentors are the best: patient, kind, knowledgeable, experienced, and supportive. GUSI provided education in the areas I wanted and needed to obtain and in my home/office environment not requiring multiple trips around the country. It is not just the way course work is presented – learning is made easier by the support provided to each student.”

Dr. Glenda Patterson
Core Faculty, University of Arkansas Northwest Internal Medicine Residency
Physician, Veterans Health Care of the Ozarks
Board-certified in Internal Medicine, Pulmonary Medicine, and Critical Care Medicine

The GUSI Fellowships Platform features a scalable software system designed to monitor and track performance, ensuring learners can effectively measure their progress.

GUSI understands the challenges faced by healthcare professionals seeking to enhance their ultrasound skills amid demanding schedules. GUSI addresses these concerns with flexible scheduling options, allowing learners to progress at their own pace while balancing their professional and personal commitments. This adaptability and virtual experience is crucial for fostering a culture of continuous learning and skill development.

“I went from not being able to hold the probe to someone who can scan and diagnosing and finding pathologies. I worked with Dr. Milne-Price and she was amazing! She sharpened my skills and we did sessions of live scanning over Zoom. I feel confident in my skills now to scan on my own.”

Dr. Dalea Al-Hawarri
Faculty, Bryn Mawr Family Medicine Residency

As healthcare continues to evolve, the demand for proficient ultrasound practitioners has never been greater. GUSI is not only committed to providing exceptional education but also aims to inspire a new generation of healthcare professionals who can leverage POCUS to improve patient outcomes globally. Join us in this exciting journey towards excellence in ultrasound practice.

For more information on GUSI Fellowships and to start your journey toward ultrasound proficiency, visit https://globalultrasoundinstitute.com/.

About Global Ultrasound Institute:

Global Ultrasound Institute stands at the forefront of point-of-care ultrasound, providing wraparound education, training, AI, and administrative software tools to healthcare providers and health systems globally to lower barriers to POCUS adoption and implementation. GUSI has trained over 14,000 healthcare practitioners in over 60 countries. GUSI is working to create a better world in which every healthcare practitioner is empowered to offer a rapid, reliable, accurate ultrasound-enabled diagnosis directly at the point-of-care, for any patient, anywhere.

For more information about GUSI Fellowships or any of GUSI services, please visit https://globalultrasoundinstitute.com/

Contact:

Dr. Kevin Bergman, Co-Founder, co-CEO, Global Ultrasound Institute
Dr. Mena Ramos, Co-Founder, co-CEO, Global Ultrasound Institute

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SOURCE GLOBAL ULTRASOUND INSTITUTE

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Keuka College Notifies Individuals of Data Security Incident

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KEUKA PARK, N.Y., Sept. 20, 2024 /PRNewswire/ — Keuka College has learned of a data security incident that may have involved personal information.

On April 25, 2024, the College identified suspicious activity within its network environment and immediately took steps to secure the environment, restore its systems, and began an investigation to determine the nature and scope of the issue. Keuka College also engaged independent cybersecurity specialists to assist with the process. The comprehensive investigation, which concluded on August 21, 2024, could not determine definitively whether personal information related to current and former students and employees was affected.

Keuka College maintains a variety of records which can include: name, Social Security number, Driver’s license number, student id number, financial account information, and date of birth. Current students and employees were contacted by the College in May and provided with one year of free credit and identity monitoring services.

Keuka College has established a toll-free call center to answer questions about the incident and address related concerns. Call center representatives are available Monday through Friday from 9:00 am to 9:00 pm Eastern Time and can be reached at 1-833-913-7557. Please be prepared to provide the engagement number, B131983, for reference.

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