Data Analytics for Fraud Detection & Prevention

BDO's Forensic Technology Leaders, Jared Crafton, Mason Pan, and Roxanne Wang were interviewed by Financier Worldwide about data analytics for fraud detection and prevention. A link to the full article, published in the Corporate Fraud and Corruption Magazine February 2025 Issue, is available at the bottom of this page.

In the current era of digital transformation, fraud poses a significant threat to businesses, necessitating robust fraud detection and prevention strategies. Advanced data analytics plays a crucial role in this defense by identifying patterns, detecting anomalies, and mitigating risks with precision. 

Companies should establish a cross-functional team across Compliance, IT, Finance and Legal departments to develop a holistic approach in identifying risks and maintain compliance. In the age where fraudsters are leveraging AI to increase the pervasiveness, frequency and complexity of their attacks, integrating AI and advanced technology is essential to protecting the enterprise and shareholder value.