HSBC has chosen SAS fraud detection system as its principal solution for fraud management across its global network. Called the SAS Fraud Management, it is part of the SAS Fraud Network."Despite growing investment in fraud prevention in Asia Pacific, card fraud is a growing issue and fraud schemes are becoming increasingly sophisticated. Common issues in this region are application fraud, identity fraud and card fraud. The challenge is for banks to ensure they have dynamic and integrated fraud detection mechanisms in place that are geo-specific. With SAS Fraud Management, HSBC can do just that," said John Foulley, Head of Banking Financial Services Solutions at SAS Asia Pacific.HSBC and SAS will expand SAS Fraud Management’s capabilities, beyond protecting against credit and debit card fraud, to provide a comprehensive approach to combating fraud across multiple lines of business and channels. These enhanced capabilities will enable the bank to monitor activity at the customer, account and channel level. This will result in further protection against branch banking, bank transfer and on-line payment fraud, as well as internal fraud.The enhanced reporting and rule writing capabilities are designed for greater detection rates and continued reduction of false positive rates. It monitors behaviour at the customer level to allow more streamlined and efficient use of its investigative resources. SAS’ alert management, routing and queue prioritisation software is meant to maximise efficiencies and allow the highest priority alerts to be worked on quickly.
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