Adding 'augmented intelligence' and 'data visualization' to the mix

Fraud EDge: A forum for fraud-fighting faculty in higher ed

The first two columns in this series described powerful and useful tools that help fraud examiners analyze and incorporate significant amounts of structured and unstructured data to identify fraud schemes and isolate fraud perpetrators. Many fraudsters, however, are cutting-edge combatants who engage in ever-changing complex and sophisticated fraud schemes. In this column, we add two additional approaches to enhancing data analysis in fraud cases that higher-education academics can pass on to their students. — Les Heitger

Augmented intelligence and data visualization are two technologies fraud examiners can use to make the analysis phase of a fraud examination more efficient. Augmented intelligence through "predictive coding" allows fraud examiners to use their unique knowledge and intuition to identify and evaluate relevant documents and data.

And CFEs can use data visualization (graphs or other visual presentations) so that most non-financial people (including judges and juries) can understand the nature, trends and meaning of complex financial data instead of trying to decipher information in traditional tabular form.

Augmented intelligence through predictive coding