（2006）Fraud Detection and Prevention：Transactional Analysis for Effective Fraud Detection.pdfVIP

Fraud Detection and Prevention: Transactional Analysis for Effective Fraud Detection W H I T E P A P E R FR AUD M A N AGEMEN T ISSUES Fraud is a dominant form of white collar crime that continues to extract a significant toll not only on the organizations that fall prey to it, but also on investors, financial institutions, and the economy in general. There are several issues that make effective fraud management a particularly challenging task. These include: enormous and ever-expanding volumes of data; the growing complexity of systems; changes in business processes and activities; continuous evolution of newer fraud schemes to bypass existing detection techniques; risks of false alarms; and regulatory issues related to employee privacy and discrimination. As new compliance and standards initiatives such as Sarbanes-Oxley (SOX) and Statement and Auditing Standards (SAS) No. 99 create an increasingly more complex regulatory environment for organizations across the globe, demand has increased for greater scrutiny and visibility into the effectiveness of internal controls to minimiz