Fraud Fighting With Detection Systems

Top three best practices when automating proactive fraud detection systems

September/October 2005
By Richard B. Lanza, CFE, CPA, PMP

Fear Not The Software

Year after year, fraud examiners will lament, "we need to implement technology this year to proactively detect fraud," but then never do take action. You're neither lazy nor ineffective. Rather, you're being knocked off-track by the silent killers of technology: trying to do everything at once, not building effective business cases, and not making it part of the fabric of your working lives.

To stay on track, you might heed some of the best practices borne out of extensive research for the "2005 Buyer's Guide to Audit, Anti-Fraud, and Assurance Software." Below are the top three best practices excerpted from this book, which focus mainly on implementing data analysis software to detect fraud.

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