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  • Over the past decade, we are witnessed changes in the risk environment. Risks to companies have increased due to the continued lack of transparency in accounting, leaks, and loss of IP. From a government perspective, the Internet has also increased the ability to perpetuate fraudThere is clearly a need and demand for solutions that can detect these frauds before they occur and investigate them rapidly once they are detected.
  • Over the past decade, we are witnessed changes in the risk environment. Risks to companies have increased due to the continued lack of transparency in accounting, leaks, and loss of IP. From a government perspective, the Internet has also increased the ability to perpetuate fraudThere is clearly a need and demand for solutions that can detect these frauds before they occur and investigate them rapidly once they are detected.
  • Traditional investigation is “follow-the-money” approach. Social media information provides a different lens that reveals additional relationships. Traditional investigation involves background searches on individuals of interest, interviews, generating leads, more interviews, etc. Automation of data collection can short-cut this process.
  • Just as the government is turning to the private sector to manage and consolidate all of its data, the financial sector is as well.New York, London, and Zurich all understand that risk can be managed when the “dots are connected” Analytic platforms can provide linkages in seconds that a team of analysts might not find for years

Candor  - open analytics nyc Candor - open analytics nyc Presentation Transcript

  • FROM THE BATTLEFIELD TO THE BOTTOM LINE:USING MULTI-NODAL NETWORK ANALYSIS TODETECT FINANCIAL RISKChristopher KenlyAveshka, Inc.Vice PresidentInnovative Analytic Solutions
  • 2Bottom LineWe can leverage thelessons learned fromthe government’schange in the way itis doing businessafter 9/11 and applythem to managingfinancial risk.
  • 3Pre-9/11 ThreatsPre-9/11, how did we think about national security threats?Regional ConcernsEconomic InterestsNation-StatesNarcotics
  • 4Post 9/11We are faced with looselyaffiliated groups united byideology• Not tied to nation-states• Independently funded• Operating globally• Operating clandestinely• Difficult to track/traceHow do we view the new threat environment?
  • 5Post 9/11What has the battlefield looked like?• No frontline; attacksthroughout the country• Limited visibility intoenemy organization &operations• Evolving adversarytactics & techniques
  • 6Post 9/11How to deal with new threats?• New government agencies and programsto facilitate information sharing• New efforts to collect and share criticalinfrastructure information and exploitopen-source data sets• Enhanced analytical techniquesthroughout government
  • 7Post 9/11How to deal with new threats?• Multi-nodal network analysis toprovide a 360⁰ view of threatnetwork• Identifies previously unknownlinkages using Dark Network Theory
  • 8Analytics in Action• New tools to identify and analyze threat streams, financial networks,and communications and conduct targeting and travel screening• New technologies and techniques that allow an analyst to query datafrom multiple databases rapidly and comprehensively to provideinformation awareness and reveal hidden relationships
  • 9Threat EnvironmentSystemic RiskMoneyLaunderingRogue TradingInsider TradingLeaks or Loss ofIPAccountingFraudPump-&-DumpSchemesIdentity TheftHow did we think about financial threats?Ponzi Schemes
  • 10Financial “Battlefield”What does the financial “battlefield” look like?• Globalization of risk• Company brands at risk• Millions of transactions• Non-transactional data• Social media sources• Proprietary data sources
  • 11How does it currently work?Without analytics, researching and planning for the mitigation of risk isa cumbersome and intricate task.FinancialRisk andExposureUnknown exposure torisks resultsmisinformed decisionmakingSifting through massivedata sets, located indisparatedatabases, and existingin various formatsTraditional mitigationbased on transactionalanalysis often fails toidentify hiddenrelationships andlatent risksAnalytical accuracy andspeed can vary acrossorganizationaldivisions, experiencelevels, and subjectdomains
  • 12Lessons Learned• Use multi-nodal network analysis and data analytics to help mitigate risk• Multi-nodal network analysis• Identify conflicts of interest• Identify derogatory information (e.g., bankruptcies)• Map social media relationships• Determine front companies• Identify operational tactics• Data analytics• Connect the dots• Identify linkages quicklyWhat lessons can we take from the battlefield and apply tofinancial risks?
  • 13Analytics in Action
  • 14Analytics in ActionFraudDetectionAnti-MoneyLaunderingIntelligenceCollection &AnalysisCompetitiveIntelligenceTransactionMonitoringRiskAssessmentDue DiligenceBrand &ReputationManagementHow can analytics transform the financial industry?• If used correctly, it can truly be a game changer.
  • 15Benefits of Analytically Enabled Multi-Nodal Network AnalysisSeamless Single intuitive interface enables access to vast quantitiesof data from disparate sourcesFlexible Cloud-based scalable architecture enables tailored inputsand outputs – analysis and reporting on your termsCost-effective Independent of your infrastructure so that it can beaccessed anywhere with lower total lifecycle costsPowerfulCustomizable visualization tools highlight hiddenrelationships and new avenues of inquiryEfficient Automated data collection and prioritization of resultsshrink the analytic timeline
  • QUESTIONS?
  • 17Points of ContactSCOTT SCHNEIDERMANo | 571.814.5737m | 917.209.8829e | sschneiderman@aveshka.comPRINCIPALInnovative Analytic SolutionsADAM KILLIANo | 571.814.5729m | 571.243.4388e | akillian@aveshka.comPRINCIPALInnovative Analytic SolutionsCHRIS KENLYo | 571.814.5702m | 609.372.5120e | ckenly@aveshka.comVICE PRESIDENTInnovative Analytic SolutionsKELLI COOPERo | 571.814.5745m | 706.564.2411e | kcooper@aveshka.comANALYSTInnovative Analytic Solutions