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By Andy Scherpenberg, Fraud and Cybersecurity Expert at SAS
Let’s do this intellectual exercise. Through a combination of investigators' expertise and advanced analytics (described in my blog ‘Why fighting fraud without analytics is no longer an option*’) we would achieve a perfect fraud detection system. It stops every attempt of a new fraud type. And, truth be told, fraudsters will find other ways. If you block the front door, they'll come through the back door. And after that the windows.
Then through the windows on the first floor. Heck, they'll even cut through your walls to get in. But ultimately, you make it too hard for them to enter and steal something worthwhile. Such a system would discourage attackers with its efficiency: if the...
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