Born said the Cine-VR trainings create "a perspective you couldn’t see if you hadn’t experienced it. [Cine-VR] provides an alternative to time-intensive, expensive knowledge transfer,” as happens in classroom lecture format. “This is longer-lasting and more impactful,” he said, designed to provide law enforcement with the feeling of the experience that they may not have in any other type of training environment.

In 2019, discussions about creating an innovative approach to training in crisis situations for law enforcement began and led to the development of the Appalachian Law Enforcement Initiative (ALEI), (now OHIO 360). In addition to Scripps College and Voinovich School faculty and students, the collaborative effort also saw contributions from Tia Jameson, director of Ohio University’s Bobcats Lead Change, Adonis Durado, assistant professor in the School of Visual Communication, and Immersive Audio Specialist Jordan Herron. Funding to produce the law enforcement training scenarios came from a grant awarded through the Voinovich School.

Detection as Code Elastic

Anomaly detection is a pivotal element in fraud prevention. It functions by identifying irregularities in transaction data. These anomalies often suggest potential fraudulent activities that warrant further investigation.

Chronicle/detection as code

The scenarios are named for their principal characters, “Chet” and “Dion.” Chet is a veteran suffering a mental crisis because of post-traumatic stress disorder and Dion is a Black man who has recurring adverse encounters with law enforcement officers during what they believe are routine stops.

The virtual reality scenarios were scripted with input from law enforcement units across the region, Bowditch said. Bowditch is the director of the Game Research and Immersive Design (GRID) Lab, which works on tech-based projects from video games to virtual reality experiences of all kinds.

Law enforcement advisors from left: Lieutenant Eric Hoskinson, Lieutenant Tim Ryan, Commander David Malawista, and Captain Aaron Maynard. Photo by Megan Westervelt

An interdisciplinary team at Ohio University is harnessing an explosion in emerging technology to tackle one of the nation’s most pressing problems: How can law enforcement trainers expose officers to potentially flammable, on-the-spot situations, so they can learn de-escalation techniques? An innovative and highly technical solution is being unveiled in perhaps the unlikeliest of places – the wooded hills of Southeast Ohio.

This refined approach ensures that fraud detection systems remain both effective and efficient. It leads to greater accuracy in distinguishing between legitimate and suspicious activities.

While potential for the program is vast across various sectors, Johnson noted the program serves as an extender of OHIO’s impact by serving areas within the University as well. "Internally, we’re able to provide support to colleges and schools,” including the Heritage College of Osteopathic Medicine and the College of Health Sciences and Professions.

Sophisticated algorithms are leveraged to sift through transaction data. They help pinpoint anomalies that might indicate fraudulent behavior.

Financial institutions must stay ahead of fraud trends. Strategies must evolve to match the pace of increasingly cunning fraud tactics.

This comprehensive guide aims to shed light on the latest trends and technologies in fraud detection systems. It's designed to equip financial crime investigators with the knowledge and insights needed to enhance their investigative techniques and strategies.

Incorporating predictive analytics into fraud prevention strategies offers several benefits. Institutions can optimize resources by focusing on high-risk areas and streamline investigative efforts. This method not only enhances efficiency but also fortifies the institution's defenses against future attacks. The ongoing development of predictive analytics will be crucial for navigating the ever-changing fraud environment.

Thanks to this accessibility, OHIO students also benefit. “At the GRID Lab, anyone can pitch a project—and we mean anyone, even [a student] who is starting college in our program on day one,” Bowditch said.

When most people think of virtual reality, its use in gaming may be the first thing that comes to mind, but its application in real life often remains unexamined.

Born believes this type of immersive training contributes to better policing outcomes for all. “The more experiences you have, the safer you become as a police officer,” he said.

Learn how to automate detectionspdf

Artificial intelligence (AI) and machine learning (ML) are revolutionizing fraud detection. They bring unprecedented capabilities to analyze vast datasets quickly and accurately. This technological duo is a powerful ally against evolving fraud tactics.

Machine learning models are at the core of modern fraud detection systems. They analyze patterns and behaviors in financial transactions. This analysis is vital for distinguishing genuine activities from fraudulent ones.

In the world of finance, fraud is a persistent threat. It's a complex issue that financial institutions grapple with daily.

"When we were first doing experiments with this, we would set actors up and then we would all go hide behind like a tree or trash can—like, the crew would hide,” he elaborated. “And always there was someone's arm sticking out, or a leg sticking out, and we'd have to digitally paint that out [in post-production].”

The increase in mobile and online transactions offers convenience but also increases fraud risk. Fraud detection systems must adapt to these changes with robust anomaly detection and real-time monitoring.

There are plans for additional scenarios authored by Williams, with six new Cine-VR trainings currently in production. Bowditch emphasizes the continual evolution of their approach and the importance of learning from failures and successes.

They can distinguish between legitimate and suspicious transactions. This distinction is based on historical data, allowing for the identification of potential fraud.

The lab’s first attempts at Cine-VR were slow going, but illuminated the medium’s possibilities, Bowditch said. “Content that we captured [initially] took almost a month to render. We realized this technology was going to quickly take off, and we wanted to be leaders in this space.”

Stay with us as we delve into the intricacies of fraud detection, from understanding its role in financial institutions to exploring emerging trends and best practices.

In the financial sector, transactions generate vast amounts of data daily. Analyzing this data helps detect signs of fraudulent transactions.

In today’s interconnected world, collaboration in fraud detection goes beyond borders. Financial crime does not respect geographical boundaries, making global partnerships essential. Institutions that work together can share valuable insights and combat fraud more effectively.

Automated Fraud Detection is a cutting-edge security approach leveraging technology to identify and prevent fraudulent activities within various business operations. This proactive system employs advanced algorithms and artificial intelligence to analyze patterns, detect anomalies, and safeguard businesses from financial losses and reputational damage.

But Cine-VR's unique presentation format and its implications for job training are only now coming to the surface. Born noted the project garners high interest when presented to job training leaders, in industries from human resources to health care. "Most of the questions we get have been, ‘How quickly can you help us?’,” he said.

This is where advancements in technology come into play. Artificial intelligence and machine learning are transforming the way we detect and prevent fraud, offering more sophisticated analysis of transaction data.

Advanced algorithms, paired with human insight, improve accuracy. By continuously refining these systems, financial institutions can reduce false positives effectively.

Detection as code Splunk

Moreover, joint efforts also involve engaging regulators and law enforcement agencies. This builds a cohesive approach to tackling fraud, ensuring compliance and thorough investigation. A unified global effort is crucial to stay ahead of increasingly sophisticated fraud schemes and protect the financial ecosystem.

Furthermore, an online marketplace employed ML algorithms to detect fraudulent sellers. The system's ability to learn from vast datasets led to the swift removal of deceptive listings. These case studies demonstrate AI's substantial impact in enhancing fraud detection and prevention efforts.

“The integration of this technology is going to change law enforcement across the world, but certainly in the United States,” said John Born, visiting assistant professor, executive in residence at the Scripps College of Communication and the Voinovich School of Leadership and Public Service.

Identifying and preventing fraudulent activities requires a sophisticated approach. This involves integrating fraud detection software with other security measures.

These virtual reality experiences have the potential to be transformative for Appalachia, Born said, noting that challenges such as distance, small populations, and tight budgets create limited opportunities for innovative law enforcement training.

These trends highlight the dynamic nature of fraud detection and the need for continuous adaptation. Financial institutions must stay informed and agile, implementing cutting-edge solutions to effectively counter fraud.

The project received the FBI National Academy Associates Science and Innovation Award for 2023, a significant recognition in law enforcement innovation, indicating the high quality and impact of the work.

Born and other Ohio University faculty created OHIO 360, an award-winning Cine-VR program to provide immersive virtual reality training for law enforcement officers in Appalachia. Faculty members from Ohio University's Scripps College of Communication J. Warren McClure School of Emerging Communication Technologies (ECT), Eric R. Williams and John Bowditch, together with Born, are leading the project.

Fraud is a significant concern for financial institutions. It threatens both their integrity and the trust they build with customers.

Detection-as-Code pipeline

Additionally, education fosters a proactive mindset, encouraging investigators to anticipate fraud trends. By staying informed, they can devise robust strategies to counter emerging threats. Continuous learning is not just an option, but a necessity in an ever-evolving field.

Assistant Athletic Director for Student-Athlete Development & Inclusion Tia Jameson served as a member of the project's development team.

A comprehensive fraud detection system comprises multiple components. Each plays a crucial role in identifying and preventing fraud.

ML models excel in predictive analytics, forecasting potential fraud scenarios. By learning from past data, they anticipate future threats, enabling preemptive measures. This proactive approach is a game-changer in fraud prevention.

Fraud detection solutions have evolved from simple alert systems to sophisticated software platforms. These tools now offer a comprehensive suite of features tailored to modern investigative needs. They empower financial institutions to tackle fraud more effectively.

Claiming that leadership position would take more than a faster rendering speed—Bowditch and Williams would have to expand their understanding of storytelling itself.

Anomaly detection is not a standalone solution. Instead, it works best when integrated with other fraud detection strategies. Combining various techniques creates a more comprehensive defense against fraud.

For example, one of the early challenges the film crew faced was the basic question of where to position themselves during filming so they wouldn’t be in the scene.

Fraud detection and prevention are undergoing constant transformation to keep pace with evolving fraud tactics. New trends are shaping the future of these systems, driven by technological advancements and changing consumer behaviors. These trends offer exciting opportunities and pose fresh challenges.

Bowditch said the experiences of officers from the Ohio University Police Department, the Athens County Sheriff Department and the Athens Police Department informed the storylines for the training scenarios, which were then delivered to several police departments in Southeast Ohio.

“I think Eric was really the first to kind of recognize that and come up with this screenplay system to be able to have the full 360 degrees used” throughout the story, Bowditch said.

Many detection systems saw rapid innovation in response to the pandemic. Financial institutions deployed advanced technologies to monitor and mitigate fraud, focusing on real-time data analysis. This proactive stance helped curb the new wave of online and transactional fraud.

Ohio University offers a three-year MFA program in partnership with the Schools of Emerging Communication Technologies, Media Arts & Studies, and Visual Communication. Williams, director of the MFA program, explained that “our MFA is designed for mid-career professionals, many of whom are returning to learn new digital skills. Being able to jump into a professional project with social impact is a huge opportunity—not only for the graduate students, but also for us at OHIO 360 to add their professional expertise to our production pipeline.”

Training equips investigators with the skills needed to effectively use advanced technologies. This includes understanding machine learning models and data analytics tools integral to modern fraud detection. Mastering these tools enhances their investigative capabilities.

For banks and fintechs, protecting your institution from fraudulent activities has never been more critical. Our real-time fraud prevention capabilities screen customers and prevent transaction fraud with an impressive 90% accuracy, providing robust and reliable protection.

Recent years have seen a surge in account takeovers and identity theft. These are driven by the digital transformation of financial services.

Moreover, our comprehensive risk coverage, utilizing advanced algorithms, guarantees detection across all potential risk scenarios, ensuring you are equipped to tackle evolving threats. Plus, with seamless integration into your existing systems, efficiency is enhanced, allowing your compliance team to focus on significant threats without disruption.

Inside Higher Ed notes the use of VR technology has expanded in college classroom settings, allowing students to experience and process high-octane situations like public speaking or practicing surgeries.

The power of predictive analytics lies in its ability to process large datasets, identifying subtle patterns and trends. These insights allow financial institutions to pinpoint emerging threats before they manifest. This proactive approach is essential in today's fast-evolving fraud landscape.

The program aims to develop “soft skills” like listening and neutral responding. Rather than providing tactical training like shooting or making arrests, Johnson says, OHIO 360 focuses on preventing the need for such actions by teaching skills that lead to better law enforcement encounters: “Communication, ability to assess the scene, active listening, de-escalation for this particular [scenario],” he said.

To achieve this, collaboration between software providers and financial institutions is vital. A tailored approach ensures that the fraud detection tool aligns with operational goals. This alignment not only boosts efficiency but also strengthens the institution's defense against fraud.

In addition to tackling visual challenges, Bowditch said the audio engineers have learned to place the audio in a 3D space as well. To accomplish this, each actor wears a microphone and is recorded on a separate channel. Those recordings are placed accordingly in post-production by ECT Director Chip Linscott and Herron, whom Bowditch places among the best in the U.S. working with immersive audio.

Recognizing fraud patterns is crucial for effective fraud detection. Machine learning models excel at this task, analyzing vast datasets to find patterns.

Financial institutions faced unprecedented challenges during this period. The surge in remote work and online activity created new security gaps for fraudsters to exploit. Consequently, detection systems had to quickly adapt to these changing conditions.

The words “virtual reality” conjure a specific scene: You don a pair of VR goggles and enter another world, where you race through city streets, battle aliens, or build rollercoasters. The experience is so immersive, you really feel like you have left the real world. You're less aware of your physical surroundings and fully invested and focused on the goal at hand, whether it’s blowing up a mothership or crossing a finish line.

Effective fraud detection solutions can mitigate these risks. They work by continuously monitoring financial transactions for signs of fraudulent activity.

The program was first tested with law enforcement officers in Ohio, thanks to available funding and the need for training resources in the region. More than 80 percent of the officers who took the Cine-VR training preferred it over traditional, classroom-style training, said Born, who previously served as director of the Ohio Department of Public Safety and colonel of the Ohio State Highway Patrol.

Students play a significant role in the GRID Lab's projects, Bowditch said, contributing to various aspects like graphics, sound, and technical elements. The lab encourages student-led project pitches, fostering a creative and experimental environment. The program also involved collaboration with various county law enforcement agencies, including Athens, Washington, Meigs, Hocking, and Muskingum counties. Ultimately, 200 people from across the University helped bring the training scenarios to life.

Investigators should seek software that offers real-time data analytics. The ability to process transactions on-the-fly is crucial for timely fraud detection. This capability ensures quick responses to emerging threats, minimizing potential losses.

For financial crime investigators, keeping up with the fast-paced realm of fraud detection is vital. Adopting best practices not only enhances effectiveness but also positions them at the forefront of the battle against fraud. It requires a strategic approach and constant vigilance.

Data analysis is the backbone of any robust fraud detection system. It enables the identification of intricate fraud patterns.

For example, a customer's transaction history can reveal patterns that remain consistent over time. Any deviation from these established patterns can trigger further scrutiny.

A critical factor in the success of fraud detection software is its integration capabilities. It must seamlessly fit into existing technological ecosystems without disrupting operations. This ensures continuous and efficient fraud monitoring.

Learn how to automate detectionsgithub

AI and ML systems can detect intricate fraud patterns. They learn from historical and current transaction data. This learning process allows them to adapt to new fraud schemes with minimal human intervention.

Automated Fraud Detection is a cutting-edge security approach leveraging technology to identify and prevent fraudulent activities within various business operations. This proactive system employs advanced algorithms and artificial intelligence to analyze patterns, detect anomalies, and safeguard businesses from financial losses and reputational damage.

Another important function is adaptability to different fraud types. A versatile software system should recognize multiple fraud patterns, from money laundering to account takeovers. This diversity enhances the institution's ability to counteract various fraudulent activities.

Choose Tookitaki’s FinCense for advanced fraud prevention that safeguards both your customers and your institution while fostering trust and security in all your financial transactions.

False positives are a significant challenge for fraud detection systems. They can cause unnecessary concern and inconvenience for customers.

Bowditch said four funding awards in 2016 gave the GRID Lab the funding to start working with Cine-VR. “We had six GoPro cameras, and they were put together in a 3D-printed housing. And that housing was screwed on top of an old baseball batter’s helmet that we found at a thrift store."

Detection as code Sentinel

Financial fraud isn't static; it's dynamic and complex. Fraudsters quickly adapt, changing their tactics to exploit new vulnerabilities.

Investors demand flexibility in fraud detection tools. This flexibility ensures the software can adapt to a financial institution's specific requirements. Modern tools provide customizable options to meet these demands, enhancing operational efficiency.

Effective fraud detection software leverages cutting-edge technologies, including AI and machine learning. These technologies facilitate automated data analysis, quickly highlighting suspicious activities. The focus is on reducing both fraud occurrence and detection time.

To fix its place as a leader in innovative job training approaches, OHIO 360’s creators plan to expand the program beyond Appalachia. It also received attention from Columbus and Louisville police departments and currently collaborates with the Ohio Peace Officers Training Academy.

Johnson noted the technology is beneficial for all kinds of public service training environments, including school safety, mental health, human resources, and veterans' programs. “I think it gives those in public service—something additional in their toolkit to be better public servants, in whatever capacity they’re serving in,” he said.

Cine-VR helps overcome these challenges, not only from a cost perspective but also because of the ease of the technology's transportation and use, Johnson said. “They’re pretty simple to work,” he said of the headsets used to deliver the scenarios. "They’re user-friendly. Anybody can do it.”

With Tookitaki, you can accurately prevent fraud in real time through cutting-edge AI and machine learning technology tailored specifically to your organizational needs. Our system monitors suspicious activity across billions of transactions, ensuring that your customers remain secure and confident in their financial dealings.

Williams, the author of two books on cine-VR, wrote and directed the scripts in collaboration with Athens Police Department auxiliary commander and forensic psychologist David Malawista.

That entrancing feeling is exactly what makes VR so successful, and Cine-VR takes it to a whole new level, Johnson, a retired Marine colonel, said. “It’s immersive—you're in there. I did two combat tours. We did immersive training, and I would’ve loved to have this [technology]. A lot of that was tactical. This is critical thinking.”

In conclusion, ensuring robust fraud prevention is essential for building consumer trust and protecting financial institutions in today’s digital landscape. Tookitaki's FinCense stands out as a comprehensive solution, designed to protect your customers from over 50 fraud scenarios, including account takeovers and money mules, all backed by our advanced AFC Ecosystem.

Since then, Bowditch said the team has created ways to shoot “120 degrees at a time. We can shoot the right side, the front side, the backside separately and stitch them all together to be one experience.”

The integration of AI in fraud detection systems is not without its challenges. These include maintaining data privacy and ensuring model transparency. However, advancements in technology continue to address these issues, enhancing trust in AI-driven solutions.

However, the effectiveness of anomaly detection depends on the quality of the data and algorithms used. Accurate and comprehensive transaction data enhances the system's ability to detect true anomalies. Meanwhile, advanced algorithms facilitate more refined and contextual analysis.

Predictive analytics represents the next frontier in fraud prevention, transforming traditional detection models. By forecasting potential fraud events, institutions can take preemptive action, reducing impact and enhancing security. It offers a promising avenue to stay ahead of fraudsters.

But the landscape of financial fraud is ever-evolving. Fraudsters are constantly devising new tactics, making the task of detection increasingly challenging.

While traditional VR technology has exploded in recent years—mainly through the medium of video games—the technology to create a 360-degree immersive user experience, as happens in Cine-VR, is advancing at an enormous rate. The team uses professional-grade equipment to film, but Bowditch noted 360-degree cameras are “affordable and ubiquitous. They aren't much bigger than a phone now.”

“Those original cameras, our 3D rig and baseball helmet, have led to millions in grants to do more in this space,” Bowditch said.

Selecting the right fraud detection software requires careful evaluation of its features and functions. An effective solution should provide robust data security and ensure compliance with industry standards. This forms the bedrock for a reliable fraud prevention framework.

“Chet is really focusing on mental health and PTSD and maybe law enforcement officers not knowing the full story before they interact with someone that's suffering mental health challenges,” Bowditch said. Dion “is about racial biases...the impact [a series of run-ins with law enforcement] has on him, and how different officers don't see necessarily how that's compounding over time and creating a scenario that's not going to end well for anyone.”

Johnson said the team is committed to exploring how Cine-VR can continue to make an impact in job training, for law enforcement and public service in the Appalachian region and beyond. “It's really, truly been a team effort and I'm really proud of what we've done and continue to do,” he said, noting what's exciting to him is the project’s origin story and first beneficiaries: “It was born and bred here in Appalachia.”

Fraud detection has traditionally been labor-intensive. AI and ML streamline this by automating analysis. This frees investigators to focus on strategic decision-making rather than routine monitoring tasks.

What’s really neat is bringing people in and brainstorming what they want [out of a training]... With virtual reality, the sky’s the limit.

Fraud detection systems have become an essential tool in this battle. They help identify suspicious activities that could indicate fraudulent transactions.

“Initially we had the challenge of, ‘OK, so we have this 360-degree filmmaking. Do we approach this like a traditional film? Do we approach this like a video game developer?’ And we found that was a mistake.”

Bowditch said the team learned through experimentation that Cine-VR is an entirely different medium than two-dimensional storytelling.

"We’ve been working with 360-degree video since 2015,” Bowditch said. “We saw that for the first time, VR was becoming affordable,” down from thousands of dollars for a single headset. The team successfully pitched the idea in 2016 to receive one of four Innovation Strategy Fund awards offered by the Office of Research.

Tines detection as code

Several case studies highlight the success of AI in combating fraud. For instance, a major bank deployed an AI-powered system to scrutinize credit card transactions. This system reduced fraud incidents by identifying anomalies not caught by traditional methods.

Compatibility with current systems and workflows is essential. The software should interface well with databases, transaction processing systems, and reporting tools. This integration facilitates smooth data sharing and analysis across platforms.

Financial institutions rely heavily on anomaly detection tools. These tools scan vast amounts of data for deviations from established norms. This process is crucial for early fraud detection, enabling timely intervention.

Continuous education is crucial for investigators to navigate the complex fraud landscape. Regular training sessions ensure they are aware of the latest fraud schemes and detection strategies. Updated knowledge is a powerful tool in their arsenal.

In another example, a telecommunications company used AI for account takeover detection. The AI solution flagged suspicious login attempts, averting potential customer data breaches. This marked a significant improvement in customer security.

"Traditionally, you would have a camera, it would be facing actors, all of the lighting gear and microphones and stuff would be behind the camera," he said. In Cine-VR production, "There is no behind the camera.

One key feature of ML models is anomaly detection. They identify deviations from normal transaction behaviors, flagging them for further examination. This capability significantly reduces the time required to detect fraud.

Financial institutions are increasingly adopting a more proactive approach to fraud detection. This shift is crucial to anticipate and prevent fraudulent activities before they occur. By focusing on forward-looking strategies, institutions can significantly reduce their vulnerability.

By integrating these practices into daily operations, investigators can improve their ability to detect and prevent fraud. Constantly evolving strategies ensure they remain one step ahead of fraudsters.

In addition to the graduate students, the project heavily involves undergraduate students working on bachelor's degree in games and virtual reality development, film, or media arts production.

The response confirmed this was training unlike any participants had experienced before, said Jay Johnson, assistant professor of practice and director of the George V. Voinovich Academy for Excellence in Public Service, located at Ohio University's Dublin Campus. "Everybody that takes off [the VR headset], the first word out of their mouth is 'Wow.' They think it’s going to be like ‘Avatar’, or a cartoon—it’s not."

As per a recent report by the Association of Certified Fraud Examiners (ACFE), organizations globally lose an estimated 7% of their annual revenue to fraud. This alarming statistic underscores the critical need for a robust defense mechanism, leading to the rise of automated fraud detection systems.

“Recent academy grads usually haven’t seen a mental health crisis in a home. The family doesn’t know what to do, so they call 911,” which can lead to unexpected conflict with police, Born said.

The COVID-19 pandemic has significantly altered the landscape of fraud, accelerating digital transformation. As financial transactions moved online, fraudsters adapted their strategies to exploit digital vulnerabilities. This shift necessitated enhanced detection systems.

Reducing false positives without missing actual fraud is essential. This balance is crucial for maintaining customer trust and reducing operational costs.

International cooperation allows for the exchange of best practices and innovative technologies. By pooling resources and knowledge, financial institutions can develop comprehensive fraud prevention strategies. Collaboration strengthens their collective defenses.

He noted a current benefit of the training is in the creativity inherent to the storytelling process and being able to deliver training that fulfills a specific need. "What’s really neat is bringing people in and brainstorming what they want. What do you want out of the end of this training? With virtual reality, the sky’s the limit.”