Featured IT News

Immediation ‘world first’ online dispute resolution platform launches

23 September 2019 in Strategy

Legaltech startup and online dispute resolution platform Immediation has officially launched in Australia in a move the company says takes…

AustCyber’s Canberra Cyber Security Innovation Node launched

23 September 2019 in Security

AustCyber’s Canberra Cyber Security Innovation Node has been jointly launched by the Federal Minister for industry science and technology Karen…

ACM forms global technology policy council

23 September 2019 in Strategy

The global Association for Computing Machinery (ACM) has formed a new Technology Policy Council designed to coordinate the agenda for…

Workday and the evolution of ERP

22 September 2019 in Enterprise Cloud

ERP has come a long way since it was flavour of the decade in the 1990s. Enterprise Resource Planning was…

Viettel, Nokia team up on Vietnam’s first 5G broadcast

20 September 2019 in Business Telecommunications

Vietnam’s largest mobile network operator Viettel and Nokia have broadcast the first end-to-end 5G network in Ho Chi Minh City…

Kyckr completes $5.2 million capital raise via share placement

20 September 2019 in Listed Tech

Australian-listed technology regulation company Kyckr has completed a $5.2 million capital raising led by investor and founder and CEO of…

ACMA acts against telco Infinity Telecom over industry rules breach

20 September 2019 in Telecoms & NBN

The Australian Communications and Media Authority (ACMA) has taken action against Sydney-based telco Infinity Telecom for breaching industry rules requiring…

Sites hit by card-skimming being re-used for malicious activity

20 September 2019 in Security

Sites that have been decommissioned due to attacks by the card-skimming attack group Magecart are being hijacked and re-used for…

Traffic, transport infrastructure get green light for NBN connection

19 September 2019 in Telecoms & NBN

Operators of traffic signals, automatic teller machines and a range of other specialised devices can now connect to select services…

Regulatory ‘certainty’ a must to attract Asian investors to Australia: Huawei chairman

19 September 2019 in Business Telecommunications

Huawei Australia chairman John Lord says that Australia cannot turn its back on Asia’s fast growing technological innovation, but warned…

Simjacker – Australians are safe

19 September 2019 in Security

All three Australian telcos have confirmed that Simjacker cannot hurt their customers.

US sues Snowden over not getting book vetted by CIA, NSA

18 September 2019 in Government Tech Policy

The US Government has filed a case against whistleblower Edward Snowden for publishing a book without first submitting it to…

Oracle sets sights on cloud domination

18 September 2019 in Enterprise Cloud

Global enterprise database and application provider, Oracle, has unleashed its vision to build the autonomous cloud, signalling an underlying ambition…

Ericsson China 'smart' factory now operational

18 September 2019 in Manufacturing Technology

Swedish tech giant Ericsson says it has completed a 500 million kroner (US $51.5 million) transformation of its “smart” manufacturing…

Online spending on digital, physical goods forecast to pass US$6 trillion by 2024

18 September 2019 in Market

The total global transaction value of online payments for digital and physical goods will exceed US$6 trillion by 2024 –…

5G ‘unlikely’ significant threat to NBN Co business, privatisation talk 'premature': minister

17 September 2019 in Business Telecommunications

The minister responsible for delivery of the national broadband network says the introduction of 5G services in Australia is unlikely…

NBN price cuts for wholesale NBN services good news for ‘budget conscious’ households, says minister

17 September 2019 in Telecoms & NBN

NBN Co’s flagging of proposed lower wholesaler pricing for some broadband network entry level product bundles is good news for…

Ola integrates Apple Pay in rideshare platform for Australia, NZ

17 September 2019 in Market

Rideshare platform Ola has integrated Apple Pay as a payment method in Australia and New Zealand in what it says…

Breaking IT News

30iGala - Remembering Internet history: Peter Coroneos video interviews Alex Zaharov-Reutt

20 September 2019 in Development

In a role reversal, the organiser of the 30th Anniversary of the Internet Gala Dinner on October 31, Peter Coroneos,…

ARENA allocates $460.5k to Alliance for Energy Productivity

20 September 2019 in Energy

The Australian Renewable Energy Agency (ARENA) has allocated $460,500 in funding to the Australian Alliance for Energy Productivity (A2EP) to…

ownCloud, Securosys enable encryption through hardware security modules

20 September 2019 in Cloud

Open-source file syncing and sharing software company ownCloud has tied up with Swiss IT security vendor Securosys SA to offer…

Barracuda launches MSP business in Australia, NZ

20 September 2019 in Strategy

Cloud security and data protection solutions vendor Barracuda Networks has launched its managed service provider (MSP) business into Australia and…

New group using Windows malware to attack Saudi targets: claim

20 September 2019 in Security

A hitherto unknown group that has been dubbed Tortoiseshell is using both customised and common Windows malware to target IT…

Switkowski reappointed as chair of NBN Co

19 September 2019 in People Moves

Telecommunications executive Dr Ziggy Switkowski has been reappointed for another three years as Chair of NBN Co, the builders and…

Your employer may neglect training, but you can't: analyst

19 September 2019 in Education

IT workers need to develop cloud-related skills — on their own time if necessary — if they are to remain…

Windows ransomware WannaCry still spreading, but the kick has gone

19 September 2019 in Security

The infamous ransomware WannaCry, which burst on to the world stage in May 2017, is still very much alive and…

Bloomberg reporter who wrote Supermicro supply chain yarn promoted

19 September 2019 in Security

The American news agency Bloomberg has promoted one of the two journalists who wrote a story last year claiming that…

Pure Storage moves up and down market

19 September 2019 in Storage & Cloud Storage

New products from Pure Storage variously address customers' diverse requirements for higher performance and lower cost storage.

OPPO unveils new wired, wireless charging technologies

19 September 2019 in Mobility

Smartphone maker OPPO claims its next generation of flash charge technologies — 65W SuperVOOC Fast Charge 2.0 and 30W Wireless…

Tableau 2019.3 explains itself

18 September 2019 in Business Software

New features in the 2019.3 release of the Tableau analytics software include the ability to explain the value of a…

Equinix extends Oracle Cloud Infrastructure global reach, spanning five continents

18 September 2019 in Deals

Global interconnection and data centre provider, Equinix, today announced its role in enabling enterprises across five continents to privately connect…

Automation Anywhere appoints industry veteran as first chief strategy officer

18 September 2019 in People Moves

Robotic process automation (RPA) company Automation Anywhere has appointed industry veteran Stephen DeWitt as its first chief strategy officer.

Non-cash payments market boom, but banks ‘reluctant’ to embrace open banking

18 September 2019 in Market

The global transaction volume of non-cash payments is growing rapidly, including in Australia, with non-cash transactions booming and competition flourishing,…

Huawei donates funds to Deaf Australia

18 September 2019 in Strategy

Huawei Australia is donating over $34,000 to Deaf Australia following its partnership with the charity and the Canberra Raiders in…

Swinburne gains Adobe Creative Campus status

18 September 2019 in Education

Swinburne University of Technology has become the first university in Australia to achieve Adobe Creative Campus status as part of…

VIDEO INTERVIEW: Zebra execs talk blockchain, automation, AR/VR and more at APPFORUM 2019

18 September 2019 in Enterprise Solutions

At Zebra's AppForum events around the world, the company shares how its customers are, and can, gain an "intelligent edge…

Stallman quits FSF, MIT over comments on sexual assault

18 September 2019 in Open Source

The founder of the free software movement, Richard Stallman, has resigned both from his position at the Massachusetts Institute of…

Woman held over alleged ID fraud after AFP, ASIC investigation

18 September 2019 in Security

A Melbourne woman aged 21 has been arrested in connection with a fraud and identity theft syndicate which allegedly stole…

Satellite operator Kleos signs first South American contract

18 September 2019 in Space

Australian-listed space technology operator Kleos Space has signed its first South American order, with an order by a Brazillian-based integrator.

 

Popular News

 

Telecommunications

Subscribe to Newsletter

*  Enter the security code shown:

VENDOR NEWS & EVENTS

REVIEWS

Recent Comments

Wednesday, 11 April 2018 00:35

SAS launches new global Fraud and Security Intelligence Division

By

Analytics software vendor SAS has launched a new division to fight fraud globally, applying artificial intelligence and advanced analytics.

According to the Associated of Certified Fraud Examiners, the typical organisation loses 5% of annual revenues to fraud. This comes to trillions of dollars worldwide every year. This fraud can be from outside, by malicious hackers and crackers, and it can even be from inside, by staff misappropriating their access.

PricewaterhouseCoopers' 2018 Global Economic Crime and Fraud Survey says 49% of companies have been victims of fraud and economic crime in the last two years, up from 36% in 2017.

Some companies have no automated fraud detection, despite having a wealth of data at their disposal on transactions, payroll, invoicing, receipting, ordering and supply and more. Other companies have rule-based fraud checks, but for any business of a certain size the number of false positives this can generate that need further investigation can be overwhelming.

SAS says there’s a better and smarter way, leveraging the company’s deep experience in analytics and apply artificial intelligence to really drill into the items that merit attention. The company officially launched its new global Fraud and Security Intelligence Division during SAS Global Forum 2018, in Denver, Colorado this week. The division is headed by Stu Bradley who has been with SAS for nine years, moving from his role as vice-president of Cyber Security Solutions.

The division will further focus and sharpen SAS’ fraud and cyber security portfolio, which is staffed by more than 400 employees in 25 countries. SAS intends to add another 100 employees to the new division over the next three years, with 50 joining by the end of 2018.

The new division launches with some wins under its belt already, including anti-money laundering work with Landsbankinn, the largest bank in Iceland. This institution must find a balance between convenient and efficient service for its 120,000 customers while screening transactions for suspicious activity.

“Landsbankinn seeks to fulfil the strictest requirements regarding money laundering, criminal financing and other illegal activities,” says Thordur Orlygsson, chief compliance officer for Landsbankinn. “And to meet those demands, we need to have a sophisticated and robust solution.”

Landsbankinn selected SAS Anti-Money Laundering to identify patterns in its data, and SAS Visual Analytics to provide data visualisation capabilities for analysts across the organisation.

“It’s not possible for us to look manually at all transactions,” Orlygsson says. “We need a system like SAS to help us do pattern analysis to identify suspicious transactions to be referred for investigation.”

Other current customers include Amica Mutual Insurance, the Georgia Department of Public Health and Société Générale.

“Over the last 15 years, SAS has built a reputation as the leader in fraud and security intelligence,” said Bradley. “The rise of the digital economy has been matched by the rapid spread of fraud and cyber security risks, making now an ideal time for SAS to redouble and refocus its leadership in this area. We want to meet customers where they are in their analytics journeys, particularly as they adopt technologies like AI, IoT and cloud. With SAS to help them, they will be even better equipped to break down data silos, adjust to shifting regulations, and safeguard against present and future risks.”

As enterprising criminals become more organised and technologically sophisticated, the analytic tools used to thwart their schemes must outpace their advances. SAS says the formation of its Fraud and Security Intelligence Division will drive greater innovation by bringing together software developers and technology professionals from across the fraud, compliance and security domains.

The writer is attending SAS Global Forum 2018 as a guest of the company.

LEARN HOW TO REDUCE YOUR RISK OF A CYBER ATTACK

Australia is a cyber espionage hot spot.

As we automate, script and move to the cloud, more and more businesses are reliant on infrastructure that has high potential to be exposed to risk.

It only takes one awry email to expose an accounts payable process, and for cyber attackers to cost a business thousands of dollars.

In the free white paper ‘6 steps to improve your Business Cyber Security’ you will learn some simple steps you should be taking to prevent devastating malicious cyber attacks from destroying your business.

Cyber security can no longer be ignored, in this white paper you will learn:

· How does business security get breached?
· What can it cost to get it wrong?
· 6 actionable tips

DOWNLOAD NOW!

ADVERTISE ON ITWIRE NEWS SITE & NEWSLETTER

iTWire can help you promote your company, services, and products.

Get more LEADS & MORE SALES

Advertise on the iTWire News Site / Website

Advertise in the iTWire UPDATE / Newsletter

Promote your message via iTWire Sponsored Content/News

Guest Opinion for Home Page exposure

Contact Andrew on 0412 390 000 or email [email protected]

OR CLICK HERE!

David M Williams

David has been computing since 1984 where he instantly gravitated to the family Commodore 64. He completed a Bachelor of Computer Science degree from 1990 to 1992, commencing full-time employment as a systems analyst at the end of that year. David subsequently worked as a UNIX Systems Manager, Asia-Pacific technical specialist for an international software company, Business Analyst, IT Manager, and other roles. David has been the Chief Information Officer for national public companies since 2007, delivering IT knowledge and business acumen, seeking to transform the industries within which he works. David is also involved in the user group community, the Australian Computer Society technical advisory boards, and education.