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How to Combat ‘Pig Butchering’ Scams with Decision Intelligence
Ever since people started exchanging goods and services, there has been a risk of one party scamming the other. And there has always been a risk of a third party scamming both the seller and the buyer. In recent years, fraud has taken on new forms and become more powerful than ever, and fraudsters take full advantage of every weak spot in every system and use any new technology they can find. ‘Pig butchering’ scams are every bit as dark/disturbing as the name implies, noted by Noam Zitzman of Cognyte.
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Stimulus Fraud Prevention Isn’t a Lost Cause, It’s an Opportunity for New Tools and Techniques
Tracey Montaño, industry consultant for Cognyte, shares how the lessons learned – and the data – from Paycheck Protection Program fraud can be used to build better models for sifting through fraud data. The many investigative challenges that arose after PPP fraud should be embraced as opportunities to evolve methods and data sharing.
