Understanding the psychology behind frauds committed and persons involved is an evolving subject. Can AI and ML help? Are there privacy and ethical issues involved in profiling behaviour of people or groups ?
Category: Fraud Risks
Analytics for fraud investigations
Many have wondered why one would perform analytics for fraud detection (or prevention) in good times (business as usual) and why would you when there is no whistle blown about a fraud suspicion? Is this not a grey area where people sensitivities are involved and news about investigations can affect the organization’s brand image? Being…
Know the difference ………..
Many people have asked me whether internal controls monitoring is sufficient to unearth suspicious transactions, abuse of processes or frauds. Do you really need another fraud investigation exercise? Both exercises have different objectives and perspectives and answers different needs (e.g. do we need to prevent or detect, examine historical or current data, use predictive or…
Risks caused by frauds
I have wondered many a times what makes this topic interesting at once but dealt with in hush-hush tones when there is an anonymous whistle blown. Why do organizations and those in the higher echelons postpone / neglect or trivialize the need to look at this risk a little closer (even before an incident happens)?…