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Volume 27, Issue 3

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March 19, 2014

Major Companies Not Making Full Use of Big Data to Spot Fraud

Computerworld UK — Most companies are spurning the chance to improve their anti-fraud and anti-bribery efforts by not taking full advantage of big data analysis, according to research from business consulting firm EY.

EY found that 63 percent of senior executives surveyed at leading companies around the world agreed that they need to do more to improve their anti-fraud and anti-bribery procedures, including the use of forensic data analytics (FDA).

The survey polled more than 450 executives in 11 countries, including finance professionals, heads of internal auditing and executives in compliance and legal areas. They were asked about their use of FDA in anti-fraud and anti-bribery compliance programs.

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http://www.cio.com/article/749959/Major_Companies_Not_Making_Full_Use_of_Big_Data_to_Spot_Fraud