Fraud Week 2020 - Forensic Data Analytics

How Data Analytics Can Assist in Fraud Detection

Fraud takes many forms, and it affects virtually every industry, although not in equal measure. The sectors that deal with it use various techniques to get to the bottom of when and why fraud happens. They often use data analytics to help.

A primary advantage of data analytics tools is that they can handle massive quantities of information at once. These solutions typically learn what's normal within a collection of information and how to spot anomalies. Data analytics technology doesn't replace the need for humans who scrutinize the content and findings, but it can track trends and possible problems substantially faster than people could without help.