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What's New?
Over this past month, VAI continued to expand it presence throughout the intelligence community, law enforcement agencies,
financial intelligence units, and commercial fraud markets. Most recently, VAI technologies were used in some high-profile
insurance fraud cases in Korea where the system detected over 40 cases of fraud exceeding $7
million and resulting in the prosecution of 164 individuals, of which 55 are currently serving
jail time.
VAI's work with the Financial Supervisory Service (FSS) on the insurance Fraud Detection
System (FDS) has saved thousands of man-hours by cutting the fraud detection process in
half while utilizing the most up-to-date and accurate information. According to the FSS 2004
Insurance Fraud Report, traffic accident claims paid out $9.97 billion. Of this amount,
approximately $870 million was fraud related, but only $53 million was detected using
traditional techniques, leaving insurance contractors with over $800 million annually in losses.
VAI technologies have also attracted the interested of the Supreme Public Prosecutor's
Office (SPPO) in Korea, the organization responsible for pursing all criminal prosecutions.
Not only does the system easily show the locations of accidents, number of claims, or total
payments, it also looks at the big picture to expose intent, collusion, and misrepresentation
through the use of visual link analysis to reveal additional subjects, connected accidents,
or other dimensions associated with the claims.
The FDS system was created by VAI partners in South Korea, Galim IT (http://www.galimit.com
and SolutionMart http://www.solutionmart.net) in conjunction with LG-CNS (http://www.lgcns.com).
To view a video news clip from YTN News, please visit
http://www.visualanalytics.com/links/ytn.wmv.
For additional information on the Financial Supervisory Service (FSS),
please visit http://www.fss.or.kr.
For additional information on the Supreme Public Prosecutor's Office (SPPO) of the
Republic of Korea, please visit http://www.sppo.go.kr
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continued from the cover
Currently, there is no established analytical protocol and many of the FIUs are "reinventing the wheel" when they implement their own analytical systems. Some common observations include the following:
- FIUs spend a significant portion of their budget on design and implementation
- System designs are based on prior (non-FIU) systems created by system integrators
- Long lead times to issue contract and implement systems (up to 2 or 3 years)
- A lot of confusion associated with requirements
- Customized components/glue are usually created
- All "issues" are often not initially addressed
- Future expansion is limited without complete system re-writes
The community needs a published, common architecture* that clearly defines and implements the analytical
process with "required" interfaces (e.g., how the different components within the system communicate
and pass requests/data). It should not endorse any particular product or system, but rather present an
integrated approach to what is required (minimally) to create an operational system. Vendors can then
map their products against this process to show how they satisfy the different requirements.
Creating this roadmap (once) will save a tremendous amount of resources, funding, and time to get an
FIU operational. Additionally, it will also provide some consistency among the community - especially
when it comes to information sharing. This applies not only to FIUs, but also for internal/inland
revenue bureaus, investigative and law enforcement organizations, customs services, as well as intelligence agencies.
As the global marketplace becomes more intertwined and more dependent upon all nations, it becomes
critical for these systems to interact in a well managed and organized fashion. Without a common roadmap,
standard interfaces, and established procedures to follow, the community will further evolve as a
disjointed and incompatible set of stove-pipe systems. Acting sooner than later to address
these concerns will save a significant amount of frustration, delay, and losses as the
systems of today are being designed and implemented to serve our continued analytical needs.
* Visit the following for an introductory briefing on "Financial Intelligence Operations in a Box."
For additional information on FIUs, visit the following: http://www.fatf-gafi.org/Members_en.htm.
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December 6-7, 2004. VAI in conjunction with the Center for Terrorism and Veritas Analytics are
sponsoring the 2004 Law Enforcement Technology Forum to address how law enforcement agencies at all levels are
applying technology to deal with the challenges on a wide range of issues to include drug interdiction, gang
violence, money laundering, and investigating fraud and other white collar crimes. Attendees will hear the
latest on Regulatory issues related to Global Cyber Crime and Terrorism, and how witness demonstrations of the
latest technologies that are being implemented to assist Law Enforcement organizations to fight criminal and
terrorist activities to include an emerging solutions that are being applied to implementing the Communications
Assistance for Law Enforcement Act (CALEA) and Foreign Intelligence Surveillance Act. Applications and technologies
presented are already being implemented within the U.S. Intelligence Community, various Federal, State and Local
Law Enforcement organizations, and a growing number of international agencies. This 2 day event is only open to
active Law Enforcement personnel. Contact VAI for additional information and registration.
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VAI is currently seeking individuals with active TS/SCI (Top Secret) clearances. We are looking for individuals who can provide training, consulting and other interactive support across our government client base. Join one of the most dynamic and exciting companies in the area. Submit your resume today.
For a list of currently available positions, please visit the Employment Opportunities page on the Visual Analytics web site.
All interested candiates should submit a resume to: info@visualanalytics.com.
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