Data mining helps unscramble complexities of fraud
A mine of information
Almost certainly, a modern bank already possesses most or all of the clues it needs to uncover continuing fraud – the challenge is finding them. Matthew Rees, an assistant director in Ernst & Young's fraud investigation and dispute services department, says the place to start is in the business process itself.
"If you are undertaking a fraud investigation, you need first to understand how the process is supposed to work. One approach used by fraudsters is to rearrange the steps in order to
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