Using spatiotemporal datasets relating to weather & natural disasters allows fraud detection experts in the insurance industry to identify fraudulent claims faster, reducing the strain on their inspector networks.
Whether it’s roof repair, vehicle damages, crop fraud or flood impact – our Data Observatory allows you to enrich with data from providers such as WeatherSource with just a few lines of code.
CLICK HERE to read the FULL Fraud Detection Machine Learning with GIS – CARTO article.
This category refers to crimes committed by employees or insiders against their own organizations. It is often the most damaging because the perpetrator has authorized access to systems.
- Asset Misappropriation: The most common form, involving the theft of company resources. This ranges from simple “skimming” (taking cash before it’s recorded) to complex schemes involving the theft of inventory or intellectual property.
- Payroll Fraud: Employees may create “ghost employees” on the system, falsify their own timesheets to claim unworked overtime, or divert salary payments to their own accounts.
- Financial Statement Fraud: Management deliberately misrepresents the company’s financial health by inflating revenue or hiding liabilities to attract investors or meet performance bonuses.