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Fraud Intelligence System
The Fraud Intelligence System (FIS) was launched by the Governor of Bank Negara, Tan Sri Muhammad bin Ibrahim at the Malaysian Insurance Summit on 30 October 2017. By pooling together industry data, FIS takes a data science approach to fraud detection. It offers insurers and takaful operators a bigger picture to access claims holistically in order to detect potential fraud. Suspicious claims can be detected more quickly and efficiently, and similarly it will be easier to identify genuine claimants as well.