Speedy solution: Langley says businesses have to be able to react to fraud and respond right away, and this is made possible through the use of data analytics.
The figures he presented were staggering. Citing survey results by Certified Fraud Examiners (CFEs), Langley revealed that organisations lost about 5% of revenue, estimated at more than US$3.5tril (RM14.3tril) to fraud each year globally.
Langley was in town last week for the SAS Forum Kuala Lumpur 2015, which saw 500 business representatives and experts in data analytics gather for a one-day event that focused on current trends and developments in the data analytics industry.
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