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Leveraging Data Analytics to Fight Fraud

July 29-30,2020

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 course will introduce the participants to the techniques currently being used by leading data analytics programs through the use of case studies, best practices, and interactive exercises. Participants will gain a basic understand of fraud, how it occurs in organizations, and the specific techniques used to identify and quantify fraud.

Upon completion of this course, participants will be able to:

  • Understanding the Fraud Triangle
  • Learning fraud fundamentals
  • Understanding the characteristics of fraudsters
  • Learning how to identify the red flags of fraud
  • Learn specific fraud detection methodologies using data analytics
  • Understand trends and patterns in fighting fraud