Author: Delena D Spann
ISBN No: 978-1-118-23068-8
Review date: 16/12/2025
No of pages: 176
Publisher: Wiley
Publisher URL:
http://eu.wiley.com
Year of publication: 17/02/2014
Brief:
Fraud analytics is defined early on by the American author as data mining, ‘a cohesive actionable analysis product
price
£33.99
Fraud analytics is defined early on by the American author as data mining, ‘a cohesive actionable analysis product’. Might such tools have spotted the Lehman Brothers, Bernie Madoff and other financial crimes and scandals that did so much damage to the United States and indeed the world? While such tools may be picked up by specialists in countering fraud, the author makes the point that occupational or white-collar fraud threatens small businesses particularly, as they typically have fewer anti-fraud controls than larger firms. And about half of victims don’t recover any losses. Whether your losses come through money laundering, or misuse of telephones (featured in our February issue), insurance or healthcare claims, various software is on offer. Briefly, it’s about finding patterns; or anomalies. Rather than as in the old analogue days physically going through receipts and till rolls, let the computer do the work – as the author puts it, ‘no mroe paper chases’!? What can go wrong? As the author points out early on, whichever product you choose, your data does have to be ‘clean’, or accurate; to recall that early computing phrase GIGO – garbage in, garbage out.
Fraud Analytics: Strategies and Methods for Detection and Prevention, by Delena D Spann. ISBN: 978-1-118-23068-8. 176 pages, hardback, £33.99, published by Wiley 2013.
