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Volume 31, Issue 2

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8 Ideas To Reduce False Positives In Fraud Investigations

Steps to Improve Forensic Analytics

Thanks to advances in forensic analytics, we can spot emerging risks long before they come to fruition. But predictions frequently lead to false positives. Satish Lalchand discusses how to prevent them in this third installment of a series on the future of forensics, following articles on the application of data-driven analytics and how the uses and quality of data drive analytics insights.

Forensic analytics — the combination of advanced analytics, forensic accounting and investigative techniques — is making breakthroughs every day in identifying rare events of fraud, corruption and other schemes. To meet rising regulatory and customer demand for fraud mitigation, forensic analytics can reveal signals of emerging risks months — or sometimes even years — before they happen. Of course, predicting anomalous events can also create false positives.

In an effort to reduce false positives in fraud investigations, careful attention should be spent on steps including:

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https://www.corporatecomplianceinsights.com/8-ideas-reduce-false-positives-fraud-investigations/