by CDO Review Staff | Jul 25, 2019 | Fraud
Seeking to realize savings of up to $2.4 billion, the Brazilian government has launched a raft of data-driven technological measures to combat fraud, particularly in its national social security system. These new anti-fraud initiatives aimed at introducing...
by CDO Review Staff | Jul 25, 2019 | Fraud
There is a technological arms race going on in the anti-fraud space. Would-be fraudsters are constantly deploying new tools and devising new schemes to part people from their money. Anti-fraud professionals fight back with new technologies and new strategies to foil...
by CDO Review Staff | Jul 25, 2019 | Fraud
Outlier Detection technology has long been used to combat credit card fraud. Algorithms stand watch over individual credit card payments and if the algorithm identifies anything out of the ordinary, i.e. an outlier, it flags the transaction. Citigroup has expanded the...
by CDO Review Staff | Jul 24, 2019 | Fraud
Should auditors be held more accountable for their failure to blow the whistle on the years-long diesel emissions fraud perpetrated by Volkswagen? Here is an excerpt from an article Daniel Jacobs and Lawrence Kalbers co-authored for The CPA Journal: Knowing that the...
by CDO Review Staff | Jul 22, 2019 | Digital Forensics, Fraud
The Securities and Exchange Commission has imposed a $50 million fine on accounting firm KPMG after its auditors were found to have used stolen data and cheated in training exams. Katanga Johnson filed this report for Reuters: KPMG admitted to the SEC’s allegations...
by CDO Review Staff | Jul 22, 2019 | Digital Forensics, Fraud
Recent research from Mastercard company Vocalink has confirmed that businesses that underinvest in fraud prevention and detection are losing money at the till. The advent of real-time transactions means that today’s firms must deploy intelligently applied machine...
