SSA-Name3, the powerful search and match engine from Search Software America (SSA) which is distributed in SA by Bateleur Software Solutions, is proving a valuable tool in assisting organisations worldwide combat fraud. If similarly deployed locally, it will most certainly assist companies here achieve considerable cost savings while clamping down on so-called white collar crime.
In one example abroad, a US-based insurance company used the search software to identify an employee who had fraudulently made out cheques to himself. A report generated by SSA-Name3 showed that the suspect had nearly $106 000 worth of illegal cheques in their possession. Before the search, no one had been aware of his illegal activities.
Thanks to the prompt identification of the suspect, not all the cheques were cashed, the firm saved a considerable sum and SSA-Name3 paid for itself within the first month of operation.
"SSA-Name3 is being used more and more to detect and quantify all manner of internal and external fraud," says Laura Selmer-Olsen, SSA product manager of Bateleur Software Solutions. "In the insurance industry, for example, it is helping to control premium increases by enabling companies to thwart fraud."
Many organisations in SA and overseas historically save names and addresses in unformatted fields which can be tracked only by expensive and time-consuming methods. By contrast, SSA-Name3 runs on a local area network, and auditors don`t even need to know exactly how to spell the name they`re investigating - a vast improvement over the previous system of guessing and entering countless options on spelling.
According to Selmer-Olsen, many aspects of intelligence, fraud prevention and investigation systems rely on data such as names, addresses and other identification attributes. However, potential fraudsters and criminals often attempt to defeat existing matching algorithms by including deliberate variations and errors.
"It`s critical that an organisation is able to reliably search large-scale databases using the names of people and companies as well as their addresses," she points out. "SSA`s software provides the technology to ensure candidate matches are found despite errors in the data. It copes well with data of any quality, and doesn`t require the data to be cleaned or formatted."
Although some solutions require the investigator to know when and how to vary a search or change the search data, SSA-Name3`s intelligent search strategies are built in and designed not to miss candidates regardless of how the data was entered. The benefits are considerable, as the organisation has real-time access to the name and address data as well as the quality and reliability investigators need.
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