SaS Creates New Division to Fight Fraud Globally with Ai and Advanced Analytics

SAS GLOBAL FORUM — The Association of Certified Fraud Examiners estimates that the typical organization loses 5 percent of annual revenues to fraud, equating to trillions of dollars in losses worldwide each year. To help organizations better detect and combat the ever-present threat of fraudsters and hackers, SAS has created a new global Fraud and Security Intelligence Division.

The division will further focus and sharpen the SAS fraud and cybersecurity portfolio. More than 400 employees in 25 countries across the Americas, Europe and Asia support this focus area. SAS plans to add another 100 employees to the division over the next three years, accelerating innovation and allowing SAS to connect with customers in new ways. Fifty new positions are anticipated by year’s end.

Organizations as diverse as Amica Mutual Insurance Co., the Georgia Department of Public Health, Landsbankinn and Société Générale use SAS^® Fraud & Security Intelligence solutions to protect against the rising and evolving tide of fraud and security risks, from which no industry or organization is exempt. According to PwC’s 2018 Global Economic Crime and Fraud Survey, 49 percent of companies say they’ve been victims of fraud and economic crime in the last two years – up from 36 percent the year before.

Leading the new SAS division as Vice President of Fraud and Security Intelligence is Stu Bradley, who brings nearly 20 years of industry experience fighting fraud and abuse, the last nine at SAS. He was most recently SAS’ Vice President of Cybersecurity Solutions.

“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 cybersecurity 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.”