Data analytics for fraud & cyber risks.
Šóta Signal Analytics
The overarching aim of the Šóta Signal Analytics project is to improve detection and predictions for major fraud events and revolutionize how stakeholders such as accountants, analysts, auditors, investigators, program directors, and securities traders evaluate risk from undiscovered, materialized fraud events. Currently, there exists no effective way for interested parties to ascertain the true risk for fraud in each organization from the outside. We intend to provide a risk assessment from public data sources that can identify not only when there is a risk for fraud inside the company, but which fraud scheme is likely involved, the degree of the risk, and for how long it has potentially been occurring.
We are currently in the research and development phase of this technology innovation. For more information, contact Alexis C Bell.
Understanding the Name Šóta Signal Analytics
The word Šóta comes from the Lakota, Sioux Nation word for “smoke”. Here, it is in reference to the Great Sioux Chief, Old Chief Smoke who reigned from the year 1797 to 1864. He was an original Oglala, Sioux head chief and in 1834 became the co-founder of the Oglala’s name. We chose the name Šóta to honor the Sioux Nation.
ó - is pronounced somewhat like “o” as in “torque” and is stressed,
t - is pronounced like “t” as in “still” or “stole”, but not like “t” in
a - is pronounced like “a” as in “father”, IPA: /a/
By combining Šóta with Signal, we arrive at ‘smoke signal’ which refers to a column of smoke used as a way of conveying a message to a distant person; an indication of someone’s intentions or views (“Smoke signal”, 1998/2010, p. 1686). That message is what we look for when analyzing data. Our concept that pressures can often be identified, in data or otherwise, before the behavior is acted upon is what we refer to as signaling; indicators that a specific event may occur in the future. It is a new way to look at data. So much of our effort had been spent on trying to detect fraud after it had happened, that over time, we became really good at understanding what conditions surface in the data just before the fraud took place.
This approach focuses on the intention prior to the traditional notions of what a materialized event really is. Just like the science that develops the residue from a latent fingerprint, Šóta Signal Analytics exposes the latent factors and intentions for fraud. The combination of identifying indicators for an increased future fraud risk as well as indicators for an increased risk that specific fraud schemes are already occurring is the basis for Šóta Signal Analytics._____________________
In partnership with iAmI, use cases for authentication solutions include:
- network access
- digital payments
- call center
- healthcare medical records
White label options available for organizations in need of branding considerations. Schedule a complimentary strategy session to find out how authentication can protect you, your staff, and clients.