If robust data analytics programs existed 20 years ago, would Enron, WorldCom, or the countless other major corporate fraud scandals ever have reached the magnitude they did? Would they have occurred at all? All organizations are subject to fraud risk. Association of Certified Fraud Examiners (ACFE) studies show that an average of 5% of revenue is lost to internal fraud schemes. Utilizing effective data analytics as part of an organization’s fraud management program can reduce the fraud scheme’s average duration from 18 months to mere weeks, or in some cases, eliminate it. More importantly, a robust fraud data analytics program can be the strongest deterrent in an organization.
This session will introduce the participants to the techniques currently being used by leading data analytics programs to detect and investigate fraud.