IBM can help you reduce fraud and error
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Fraud and error is widespread in the Public sector. The cost to governments and societies are substantial. As per the reports around the world in 2011, 376bn Euros is lost to fraud, waste, abuse and errors in healthcare. IBM counter-fraud consulting services and technology mitigate the impact
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IBM can help you reduce fraud and error
- 1. Public sector organisations: IBM can help you reduce fraud and error Fraud and error is dangerously widespread in the public sector Across Europe, tax non-compliance and services not rendered to those eligible have serious consequences. The costs to governments and societies are substantial Damages brand reputation Erodes trust in democracy Drains resources Across Europe €123.5bn is lost from the EU economy due to corruption every year1 76% of people think corruption is widespread in their country2 50% believe the situation €1tn = estimated overall loss to tax evasion and avoidance every year4 Around the world in 2011 €376bn is lost to fraud, waste, abuse and errors in healthcare South Africa – 14 x total healthcare expenditure Canada – 2.5 x total healthcare expenditure UK – 3 x NHS total Every year from the UK Government £20bn is lost to fraud in the public sector5 Victims £14.1bn Tax system £2.6bn Central government £2.1bn Local government £1.9bn Benefits and tax credit system Every year across the globe €2.7tn is lost to occupational fraud and abuse Based on a global study: 5% = typical loss of revenue per organisation >€0.7mn per case = loss for 22% of cases €106k per case = median loss7 IBM counter-fraud consulting services and technology mitigate the impact Our counter-fraud capabilities cover the end-to-end process from discovery to detection, investigation and prosecution of fraudulent cases. is worsening3 Equates to: expenditure6 1. D ete ct. Identif y potential fraud using rules and advanced 4. Discover. Identif y anomalies within the data and unear th unknown fraud schemes What sets IBM apart Our integrated solutions give public sector organisations more control – helping them to act on fraud before it happens. Why IBM Unique combines an unrivalled analy tics 2. Resp ond. Take the best action in real time, once potential fraud has been identified 3. Investigate. Confirm fraud for prosecution and recover y Increased effectiveness and efficiency Reduction of fraud, error, waste and abuse Controlled risk exposure in a fast-service delivery model Better equity and compliance Protected brand reputation mix of technology and expertise Flexible offers innovative commercial terms Innovative champions forward-thinking and new capabilities Key benefits To see how we can create a future without fraud and error, visit ibm.com/smartercounterfraud 1 BBC News (EU Commission) – http://www.bbc.co.uk/news/world-europe-26014387 2 European survey respondents to the Eurobarometer 2013 – EU Anti-corruption Report, March 2014 3 BBC News (EU Commission) – http://www.bbc.co.uk/news/world-europe-26014387 4 EU Commission website (2013) – http://ec.europa.eu/taxation_customs/taxation/tax_fraud_ evasion/a_huge_problem/index_en.htm 5 Annual Fraud Indicator, June 2013. 6 The Financial Cost of Healthcare Fraud 2014. 7 Report to the Nations on Occupational Fraud and Abuse, 2014 – results based on a survey of 1,483 organisations. © Copyright IBM Corporation 2014. All rights reserved. IBM, the IBM logo and ibm.com are trademarks or registered trademarks of International Business Machines Corporation, in the United States, other countries, or both. Other product and service names might be trademarks of IBM or other companies. A current list of IBM trademarks is available on the Web at www.ibm.com/legal/copytrade.shtml