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Fraud Prevention Alert—Data Analytics: Part 4


As presented in previous Fraud Prevention Alerts, using risk-based assessments and data analytic techniques to identify trends, patterns, anomalies, and abnormal relationships in data can be an effective anti-fraud control. Data analytic techniques can be separated into 3 categories for practical applications: basic, statistical, and advanced. This final alert in our 4-part series focuses on advanced analytical techniques and describes how using these techniques on an organization’s data and investigating associated findings can help public officials identify fraudulent activity before it becomes significant.