If the Reno brothers, John and Simeon, woke up to modern day robberies, I believe that they would have a lot to say about the way it takes place. Placing sentries with cutlasses and rifles was enough security then, but it is not enough in this era of cyber crime, money laundering, organized fraud and improper payment of social benefits and tasks. A “sentry” who is at par with the criminals and offers compatible solutions to the problem, however, exists. SAS has created a new R&D division purposed to plug the avenues frequented by everyday fraudsters.
To expand its portfolio, SAS (News - Alert) presents the new SAS R&D Fraud and Compliance Solutions Division to meet enterprise needs in the detection of multichannel fraud and regulatory irregularities. In addition to this, SAS intends to boost power and speed of SAS in-memory on existing products while expanding its customer base to cover other fields like utilities and telecommunications that are equally plagued with fraud, compliance and security issues.
This intense activity reflected in this year’s 22 percent customer preference growth will definitely solidify SAS’s position as a provider of security software and solutions. With its solutions receiving a range of awards and analyst validation, SAS stands at a better position to benefit from the Chartis Research projected increase in investment toward financial crime fighting.
Other fields that are potential goldmines in the coming year are government institutions and the healthcare sector. With the health sector losing more thann $260 billion annually to fraudsters and government contracts and actual finances trading hands in non-legitimate ways, SAS solutions definitely are here to stay.
With security and fraud risk exposure coming from multiple points, companies are increasingly being faced with the challenge of implementing a more holistic approach as opposed to a fragmented one. SAS’s security solutions are aimed at doing exactly that.
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Edited by Rachel Ramsey