Fraud and Fraud Detection: A Data Analytics Approach, + Website

Foreword

I MET SUNDER MANY YEARS ago when he was researching advanced methods to improve his work through Benford’s Law analysis. He immediately displayed a passion and excitement for thinking outside of the box that inspired a professional relationship based on our common enthusiasm for IDEA. Being a long-time IDEA user with experience in various types of audits, I have always been keen on learning new and innovative ways to use the tool and push it to its limits, especially now working on the development side of the product.

Today’s fast-paced society has enabled most actions, transactions, and activities to be captured and saved on various databases in a matter of minutes. Because of this, fraud has grown in sophistication and become increasingly difficult to identify. However, this influx of technology and data capturing has also provided fraud examiners with the ability to use fraud detection methods that rival perpetrators of fraud in both complexity and innovation. The increased amount of data collected by innumerable systems in turn increases the possibilities available to fraud examiners. It is through the use of data analytics that fraud examiners can combat fraud and detect anomalies in a timely and efficient manner.

This book will lead you through the possibilities I have mentioned and will explain in full detail the different mathematic models and advanced analytics available for use in the identification of suspicious transactions. It is with great enthusiasm ...