Introducing the IBM Counter Fraud Management solution

The IBM® Counter Fraud Management (ICFM) solution provides actionable insights to identify fraudulent activity, financial crimes and improper payments, as well as a management environment for the investigation, mitigation, and prosecution of fraud and financial crimes.

The desired business outcome is improved business results from reducing loss while maintaining a positive experience with the organization for legitimate customers. The ICFM solution segments the enterprise-wide fraud problem into four key phases:

Phases of IBM Counter Fraud Management: Detect, Respond, Investigate, and Discover

  • Detect: Apply analytical fraud models and rules in the business process to determine if an ‘action’ is potentially fraudulent before unnecessary deposits, withdrawals, transfers or payments occur.
  • Respond: Apply fraud insights to take action. Confidently differentiate legitimate actions while preventing or interrupting suspicious actions by responding immediately to criminal patterns and activities.
  • Investigate: Turn fraud intelligence into action. Perform and manage the deep inquires into suspicious activity that will support the compilation of evidence and provide the thorough analysis required to build more compelling cases for prosecution and recovery or denial of payment.
  • Discover: Leverage a rich set of analytic capabilities to identity suspicious activity by retrospectively reviewing historical data, analyzing patterns and building watch lists to identify individuals or organizations that might be conducting fraudulent activities.

The approach followed by the ICFM solution is to provide a proactive, integrated counter-fraud offering to enable clients to detect, disrupt, predict, prevent, and investigate fraudulent activities impacting their business. The solution leverages IBM’s complete analytics offerings from across Business Analytics, the i2® Intelligence Platform, as well as IBM extensive Enterprise Content Management capabilities. Based on these capabilities, the ICFM solution seeks to deliver industry-specific use cases on a common platform integrating with client operational systems.