SAN FRANCISCO Feb. 2, 2011 Richard Stiener
Richard C. Stiener
Subsequently, Mr. Stiener was Director of the Office of Special Investigations of the Government Accountability Office (GAO). He testified before the U.S. Congress on matters related to fraud, waste and abuse in government programs. In addition, he emphasized the integration of the audit and investigative functions within the GAO.
Mr. Stiener then moved to the private sector where he was the Head of Investigations for Travelers Insurance and Citigroup. He concluded his career as a Managing Director for Citigroup’s Office of Security and Investigations. Within the private sector, he emphasized the need for investigations to positively impact the company’s bottom line.
"I am pleased to be part of Brighterion at such an important and exciting time", said Stiener. "Brighterion has a tremendous opportunity in delivering unique adaptive real-time fraud prevention and homeland security intelligence."
Losses due to criminal activity directly affect the profits of financial institutions. Existing solutions fail to efficiently prevent fraud because they score transactions using the same logic for all cardholders and merchants! They have a poor fraud detection rate and a high false positive rate. They are also outdated as soon as they are released because they lack the ability to adapt to new fraud schemes.
The Brighterion team has created a unique solution that evaluates in real-time behaviors specific to each individual cardholder or merchant which result in high detection and an extremely low false positive.
Additionally, iPrevent’s unique self-adaptive ability allows models to learn and make effective changes at runtime and therefore, is the only product on the market with the ability to identify and stop, in real-time, previously unknown fraud schemes.
Note to Editors: Brighterion and iPrevent are registered trademark of Brighterion Inc. Other brands and products are trademarks of their respective owners.
SOURCE Brighterion Inc