Fraud is a big problem for many businesses and can be of various types. Inaccurate credit applications, fraudulent transactions, identity thefts and false insurance claims are some examples of this problem. These problems plague firms all across the spectrum and some examples of likely victims are credit card issuers, insurance companies, retail merchants, manufacturers, business to business suppliers and even services providers. This is an area where a predictive model is often used to help weed out the “bads” and reduce a business's exposure to fraud.

Predictive modeling can also be used to detect financial statement fraud in companies, allowing auditors to gauge a company's relative risk, and to increase substantive audit procedures as needed.

Bitek, by using its experience in predictive modeling, will provide you more successfull results in fraud detection as compared to the rule-based methods. As a result of this, your operational workload will decrease and also you will have a better performance in fraud detection. This means you will have more secure operational systems.