Using Data Analytics to Prevent & Detect Fraud

The sophistication and complexity of fraud schemes continue to grow and outclass conventional anti-fraud measures. Fraudsters, or people who commit corporate fraud, whether employed internally or externally, continue to develop new strategies to defraud organizations. These scenarios can include vendor fraud, employee expense fraud, financial statement fraud, bribery, and asset misappropriation. Here is a five-step plan that will help you deploy data analytics as part of your anti-fraud program.