IBM > Case Studies > Big risks requires big data thinking: helping clients target and prevent fraud

Big risks requires big data thinking: helping clients target and prevent fraud

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Company Size
  • United States
  • IBM® BigInsights®
  • IBM Counter Fraud Management
Tech Stack
  • Big Data Analytics
  • Forensic Data Analytics
  • Text Mining
Implementation Scale
  • Enterprise-wide Deployment
Impact Metrics
  • Cost Savings
  • Productivity Improvements
Technology Category
  • Analytics & Modeling - Big Data Analytics
  • Application Infrastructure & Middleware - Data Exchange & Integration
Applicable Industries
  • Finance & Insurance
Applicable Functions
  • Business Operation
Use Cases
  • Fraud Detection
  • Regulatory Compliance Monitoring
  • Data Science Services
About The Customer
EY is a global leader in assurance, tax, transaction, and advisory services. The insights and quality services EY delivers help build trust and confidence in the capital markets and in economies the world over, and help to build a better working world for EY’s people, clients, and communities. EY provides its clients with comprehensive protection against fraud and security risks. Over the past decade, the staggering increase in volume, variety, and velocity of business information has changed how companies approach fraud and corruption investigations and compliance monitoring.
The Challenge
EY's clients are increasingly seeking growth in markets with higher perceived levels of fraud, bribery, and corruption risk. Regulators and law enforcement bodies are intensifying their activities, leading to significant corporate investment in employee training, policy development, and internal audit procedures designed to raise awareness of anti-fraud or anti-corruption policies. Many companies have also increased the use of more sophisticated, proactive uses of forensic data analytics (FDA) capabilities designed to prevent and detect areas of fraud, waste, and abuse. However, traditional rules-based tests and spreadsheet tools are not effective in managing these risks. EY needed a solution that could help them get ahead of the curve and squash potential threats before they escalate.
The Solution
EY selected IBM® Counter Fraud Management and IBM BigInsights® as the technology foundation for a first-of-its-kind offering: EY Counter Fraud. This offering has been configured exclusively to combine decades of EY’s fraud, investigation, and compliance experience and industry-specific knowledge with the big data computing power, intelligence, and scalability of IBM technology. IBM Counter Fraud Management is delivered as an all-in-one, forward-looking platform which uses comprehensive analytics to detect and highlight potentially suspect activity. Combined with the big data capabilities of IBM BigInsights, the solution allows EY to detect any potential fraud, respond promptly by applying fraud insights, investigate suspicious activity and review historical data, analyze patterns and build watch lists to monitor potentially fraudulent activities.
Operational Impact
  • EY can now use their library of anti-fraud tests and their years of expertise, and work with their clients to set up EY Counter Fraud powered by IBM via the cloud or on-premise.
  • The solution gathers data from multiple sources and applies real-time analytics to identify hidden patterns and anomalies that can be indicators of rogue or criminal activity.
  • By identifying indicators of suspicious behavior early, the solution helps clients understand whether something is a false positive or the result of true corrupt intent.
Quantitative Benefit
  • Queries run in minutes, not hours, helping clients rapidly identify and eliminate threats.
  • Analytics searches go from taking hours on a traditional SQL-based platform to literally minutes on the IBM solution.

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