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Fraud Analytics: Strategies and Methods for Detection and Prevention by Delena D. Spann

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Centrifuge Analytics: Is Big Data Enough?

WHAT IS the recipe for using visual displays to find fraudulent activity? Analysis of data is not enough when the amount of data and the various sources and formats of data are overwhelming. The ability to integrate the data sources and allow the data to be shown by a visual format gives the fraud examiner a leg up in the fight against fraud.

Centrifuge is a leading provider of visual analytics. Its Centrifuge Visual Network Analytics (VNA) is one of the most enhanced analytical tools for integrating data in a cohesive manner and provides vibrant association maps and interactive visualizations. VNA allows the fraud examiner or fraud analyst to quickly discover patterns in the data to detect anomalies and red flags. In addition, it displays the connections between businesses, customers, and transactions in a mapping format.

The Centrifuge VNA platform can integrate data from sources formatted in Word, Excel, Access, PDFs, and can combine data with information from social networks, and cloud-based data to uncover relationships and patterns in a visual display (see Figure 7.1).

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FIGURE 7.1 Centrifuge VNA Associations/Relationships

Source: Centrifuge Systems. Reprinted with permission of Centrifuge Systems.

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The solution ...

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