Cifas, the UK’s leading fraud prevention service, has entered into an innovative new partnership with Mango Solutions to further enhance its intelligence capabilities for members and the wider fraud prevention community.
As part of this new partnership, Mango Solutions will help Cifas build and enhance its existing intelligence capabilities, as well as further deepen its understanding of crime networks involved in fraud.
Cifas intelligence is used to identify fraud activity, organised crime networks and emerging fraud types, and is shared with Cifas members and law enforcement agencies to help detect, prevent and tackle fraud. By using Mango Solutions’ data science capabilities and expertise, Cifas will be able to utilise this intelligence more effectively and efficiently to help identify current and emerging fraud threats. Not only will this be data be used to inform Cifas members and the wider fraud prevention community, but also strengthen Cifas’ position as a compelling thought leader in the field of fraud, and influence its thinking and major decisions around fraud prevention.
Nick Downing, Chief Intelligence Officer for Cifas said “Fraud continues to evolve and criminals are collaborating and moving at an alarming pace, and so it is crucial that we continue to innovate and remain in a strong position to tackle the ever-changing nature of fraud.”
‘Mango Solutions is at the cutting edge of data science and data engineering, and working together will not only help us to enhance our existing intelligence, but help us to really understand what the art of the possible could look like.”
Rich Pugh, co-founder and Chief Data Scientist at Mango Solutions, said “Thanks to the remarkable impact of data sharing and analysis, fraud loss prevention by Cifas members now exceeds £14 billion. To maintain this trajectory, we are thrilled to be working in partnership with Cifas to introduce data science initiatives that will add value for its members through reducing and ultimately preventing fraud.”
“Initial key focus areas will include reducing the number of false positives to improve matching when searching the National Fraud database, improving Cifas members understanding of the data, and providing further intelligence based on data – such as emerging crime patterns.”