Forecasting Fraud with Predictive Analytics
Government charge cards account for almost $30 billion in purchases, leaving plenty of opportunity for fraudsters. But agencies are fighting back with predictive analytics and the most modern data tools available.
Several recent high profile scandals have brought charge card programs under scrutiny. It is for this reason that Congress passed the Government Charge Card Abuse Act of 2012, which chiefly ordered agencies to put in place policies detailing disciplinary measures in instances of fraud or abuse. Charge cards account for $30 billion in purchases from 95.6 million transactions, leaving plenty of opportunity for fraudsters. While critics allege charge card fraud is rampant across government, the truth is that fraud and abuse rates have fallen dramatically in recent years and now hover under one percent for many programs.
To learn how agencies have lowered fraud rates and continue to improve detection with predictive analytics, download this report.