In this course, participants will gain a broad understanding of the various anti-fraud preventive and detective tests available to practitioners and take initial steps in building their own library of tests unique to their business or industry risks. Specific discussions and examples will include vendor analysis to look for potentially improper payments around conflicts of interests, fake vendor schemes, bribery & corruption, sanctions and trade compliance, anomalous payments, segregation of duties, among other risk categories. Participants will also explore tests around customers or distributors that include margin analysis, free goods, discounts and revenue recognition. Further, we will explore employee related test to mitigate travel & entertainment expense abuses. We will also point out various online and public resources for participants to start building their own library of tests to support both reactive investigations as well as proactive prevention and detection.
Learning Objectives
- Exposure to hundreds of anti-fraud tests around vendors, customers and employees
- Understand the difference between rules based (supervised) test vs. statistical (unsupervised) tests and why they are both important
- Learn the importance of text mining and natural language processing to find corrupt intent
- Build your own library of anti-fraud tests using various public resources
Major Topics
- Build your own forensic data analytics tests around vendors, customers or employees
- Expand your knowledge and library of available anti-fraud tests and behavioral algorithms
- Align the right tests to the appropriate risks
- Practical applications and use cases
