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How data analytics is changing the face of compliance

Jaclyn Jaeger | September 7, 2016

Escalating enforcement of anti-corruption laws around the world is driving chief compliance and risk officers to get savvier about how they monitor their anti-corruption compliance programs. Enter data analytics.

Analyzing data to ferret out potential acts of bribery and corruption is not a new concept, but traditionally it has been limited by the archaic manual process of analyzing structured data—such as spreadsheets and database records. In an era of Big Data, however, most of the vast and deep oceans of information companies collect every day—from social media, mobile devices, e-mail, and more—hold absolutely no value.

“It’s not necessarily about Big Data; it’s about good data,” says Seth Rosensweig, a partner in the Advanced Risk and Compliance Analytics group at PwC. Part of the responsibility of chief compliance officers is to ensure that what they report to regulators is true and accurate, but that requires having true and accurate data to start with...

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