Conclusion
With ever-increasing fraud instances and always more complex fraud
scenarios, proactive monitoring for bad
actors and bad scenarios is emerging
as required capabilities for companies
around the world. No company can afford the direct (monetary) and indirect
(customer perception) losses associated with fraud incidents. It can take
many years for companies to recover
from these situations, and companies
that are not taking the proper precautions face increasingly stiffer penalties.
Although proactive solutions are available, and include the use of big data
and analytics, they are not simple and
require expert guidance. ❙
Drew Carter ([email protected]) is an
applied analytics expert and Stephanie Anderson
([email protected]) is an expert in
fraud compliance and forensic accounting. They
are managing directors of AlixPartners, LLP, (www.
alixpartners.com), a global business advisory firm
and an industry leader of proactive monitoring for
compliance and fraud.
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