Ferreting out fraud is never easy. For years, compliance professionals have relied on the bravery of whistleblowers, the mis-steps of perpetrators, and a good amount of luck to uncover wrongdoing both inside and outside their companies.
That may all be changing with the advent of the Big Data era. These days, high-powered analytic tools can crunch through enormous quantities of structured and unstructured data, producing an exponentially greater set of comparisons within the data on any given afternoon than a human could in a month. As companies refine their tools and techniques, catching fraudsters may soon become more a matter of learning how to properly interrogate a computer program rather than putting gumshoes on the case.
