I was a Keynote Speaker for the IDEA Innovations Conference in Houston recently exploring Breaking the Code of Fraud. My keynote presentation covered my experience in using data analytics over my 30 years of professional work, with an emphasis on how we as an industry need to move away from experience-based fraud detection to a scientific-based model of fraud detection and prevention.
My keynote covered how to:
- Identify fraud scenarios within core business systems by applying data mining techniques
- How fraud concealment and strategy impact your plan, and what adjustments you may need to make to ensure your success
- Recognize patterns within the data that may indicate the presence of a fraud scenario
- Use the five critical data elements to effectively identify fraud scenarios
- Determine the frequency of analysis to prevent unnecessary losses across the organization
Taking advantage of large quantities of data is exactly how organizations and individuals conceal fraud for years on end. Staying ahead of them is all about how you approach that data and use fraud data analytics. The best audit program in the world cannot detect fraud unless your audit sample contains fraudulent transactions. Hence, fraud data analytics is essential.
One of the best parts of my role in the industry is being able to share my in-depth expertise on technology and fraud data analytics so this speaking engagement was a great chance to keep everyone up-to-speed with the latest techniques.
Fraud Auditing Inc. offer expert consultation and speaker engagements. Contact us today to book Leonard W. Vona for your conference or training requirements.