Payment fraud can be defined as an intentional deception or misrepresentation that results in an unauthorized benefit. Fraud schemes are becoming more complex and difficult to identify. It is estimated that industries lose billions of dollars annually because of fraud. The ideal solution is where you avoid making fraudulent payments without slowing down legitimate payments. This solution requires that you adopt a comprehensive fraud business architecture that applies predictive analytics.
Payment fraud is a significant problem for industries, such as banking, property/casualty insurance, and tax revenue. Technological advancements can help you move from a post-payment to pre-payment fraud detection architecture. IBM® System z® supports these advancements as well as providing traditional mainframe benefits. This IBM Redbooks® Solution Guide describes a fraud detection solution on System
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