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ACFE Global Fraud Conference 2020 Pre-Conference Session

June 21, 2020
Using Data Analytics to Fight Fraud

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? Using effective data analytics as part of an organization’s fraud management program can reduce a 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 you to the techniques currently being used by leading data analytics programs to detect fraud. It will also address how visualization can help us analyze data and communicate our results. Finally, it will cover the evolution of data analytics to artificial intelligence (AI). You will also walk through a real-world case study where AI solved significant challenges with labor, the chain of custody, quality of evidence and more. You will go from the whistleblower complaint to the conclusion of the case and examine the analytics and AI used throughout.

Course Outline:

  • 1:00-2:10 p.m.: Using Analytics to Fight Fraud: Considerations, Methods and Techniques
  • 2:25-3:35 p.m.: Analyzing, Evaluating and Communicating Data Analytics Through Visualization
  • 3:50-5:00 p.m.: 2020: The Future is Now. Advancing Your Data Analytics with Artificial Intelligence

You Will Learn How To:

  • Assess fraud-focused continuous auditing and monitoring
  • Identify trends and patterns in fighting fraud
  • Recognize opportunities for creating successful visualizations
  • Recognize why AI will be a valuable tool
  • Prepare to start using AI in your work