December 13, 2011 | Alberta

Two of Canada's largest financial services firms, SAS Canada and Transunion, recently announced the formation of a consortium to tackle financial fraud.

The partnership will draw heavily on Transunion's extensive database of financial information and SAS Canada's sophisticated detection technology to reduce fraud across the country. Such practices are becoming increasingly common in the Canadian financial system, and students enrolled in accounting training at CDI College may find that the skills aquired in the program could serve them well in their careers in the financial services industry. Some experts say a high-tech approach is necessary to tackle today's fraudsters.

"These criminals are smart so we need to modernize our approach to combating them," Dan McKenzie, a financial crimes solutions specialist for SAS Canada, said in a statement. "This joint effort will combine cutting-edge technology with rich historical data to give Canada's financial institutions a much broader and more accurate picture of fraud."

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