How to Detect Fraud with Data Mining Techniques
Here’s a sample of what we do:
- Duplicate invoice searches to determine the extent to which Accounts Payable is paying invoices twice
- Address matches and vendor activity analysis to search for false vendors
- Account analysis to detect fraudulent financial reporting
- Payroll data analysis to detect ghost employees, inappropriate payments, and false social security numbers
- Travel and expense analysis to detect fraud in travel reimbursement or procurement card spending
- Revenue analysis to detect missed revenue opportunities
- Analysis of most financial statement and operational areas to detect fraud and error
The slide show demonstrates our application of data analysis techniques to Accounts Payable, Procurement, and Expense Reports. Our data analysis techniques also include the following methods:
- Account analysis to detect fraudulent financial reporting
- Payroll data analysis to detect ghost employees, inappropriate payments, and false social security numbers
- Revenue analysis to detect missed revenue opportunities
- Analysis of most financial statement and operational areas to detect fraud and error
Click any slide to enlarge and view presentation.
| Tests to find duplicate invoices: |
| Join a vendor database with an employee database to find records in which a vendor address matches an employee address: |
| Examples of expense report frauds: |
