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In the game of fraud, all (relevant) data must be analyzed. According to the ACFE's Report to the Nations on Occupational Fraud and Abuse: the typical organization loses 5% of revenue in a given year as a result of fraud. Fraud may be big business, but so too is big data as a means to combat incidents of fraud.
Most organizations, regardless of size, will experience some type of fraud during the course of their business. These same organizations likely store many volumes of data that could be leveraged to combat incidents of fraud. In this session, we will explore the fundamental definition of data and its relationship to fraud. We will then explore how data analytics, or in this case fraud analytics, can prevent, deter, and detect incidents of fraud.