Data Analytics as a “Survival Strategy” for Fraud Control
Big Data is becoming a resource in the fraud fighter’s arsenal as more companies are using data analytic software to look for anomalous patterns in internal data. This method has helped some companies monitor more data sources, cutting the time for detection and reducing the costs of fraud.
A recent post by Peter Goldmann of ACFE reports on the rate of adoption of data analytic technology, finding that the largest group is companies that have no data analysis program at all (almost 30%–see the bar graph). … Continue reading