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NETMAP ANALYTICS VERIFICATIONOwnership is divided between Slepyan, the Swiss group, private investors, and Digital Verification advisory board chairman and former Israel Police Commissioner Assaf Hefetz, who holds a minority share. The company also received a $450,000 grant from the Office of the Chief Scientist. A group of Swiss funds invested $1.5 million in the company’s second round. These were the numbers upon which he founded the company in 2000.ĭigital Verification raised its first $500,000 from private investors. NetMap has sold only licenses in Israel to date, but Neuwirth says the company is now planning sales under the service model as well.ĭigital Verification CEO Edward Slepyan says $2 billion worth of forged money is dumped on the world’s markets every year, including $50 million in the US alone. Neuwirth says NetMap uses three marketing models worldwide: sales of licenses, priced according to the buyer’s size the sale of fraud detection services, priced according to either a fixed fee or based on success and manually checking databases at a specific point in time. In addition to the defense establishment, the company is trying to sell the system to financial companies, the tax authorities, telecommunications companies, and retail chains. ![]() NETMAP ANALYTICS WINDOWSIn January 2003, dsIT reorganized NetMap’s marketing network in Israel, importing the Windows version of the system to operate alongside the UNIX-based system. The system has been operating for over two years, and is considered to be one of NetMap’s most important applications worldwide. In Israel, a defense establishment unit uses NetMap’s system intensively, exploiting its ability to establish links between separate data elements, which can then be more deeply investigated, leading to significant discoveries. In Australia, NetMap’s system handles a nationwide database of taxi owners, to detect fraud and money-laundering. It is therefore the main fraud detection tool for the US insurance industry, handling two billion listings simultaneously. Neuwirth claims NetMap has the only tool that can simultaneously handle vast quantities of data. At Trade Bank, I imagine they would have seen the hundred-fold increase in transactions in a particular area.” “It presents the data in a manner that knowledgeable people can identify suspicious areas. “Unlike other systems, the system doesn’t cry out ‘We have a problem here!’” he explains. Neuwirth says the system’s advantage lies in its lack of sophistication, and dependence on a human operator. The human operator can then focus on the details down to the level of a single transaction. The graphs make it easy to distinguish multiple movements between customers A, B and C. In practice, the system creates physical interconnections between the separate data elements in a graphic form. ![]() NetMap’s tool offers a different approach: link analysis, which visually portrays the links between separate data elements in a system, such as account numbers, customer numbers, and customer specifics, underscoring suspicious interconnections. These systems would miss the fraud in the Trade Bank affair, where the embezzlement was carried out behind the scenes. NETMAP ANALYTICS SERIESHe says existing systems that are based on a series of rules or defined behavioral patterns, and are programmed to discover deviations from those rules or patterns, are inadequate. “The potential for fraud in any system that handles money, such as banking, credit card, and communications, is high,” says dsIT CEO Jacob Neuwirth (Noy). NETMAP ANALYTICS SOFTWARENetMap Analytics, represented in Israel by software house dsIT, proudly bears the definition as a “visual data analysis/mining tool”. Another fascinating system that does not rely solely on machinery comes from Australia. ![]()
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