How can I use data to detect or prevent fraud?
Data analytics is one of the most effective anti-fraud controls, yet only a third of organizations use it. According to the Association of Certified Fraud Examiners 2018 Report to the Nations, the median loss due to fraud in the 2,690 cases studied was $130,000. Losses range from small expense reimbursement fraud to asset misappropriation to multimillion-dollar corruption schemes. No matter what fraud
Email is possibly the most content-rich data source an organization possesses. Email analysis offers invaluable insight into the context, timeline of events and parties involved as well as the underlying emotion and sentiment. Many indicators of fraud and other risks are behavioral. We can use proprietary analytics tools to proactively monitor email and help identify behavioral warning signs before a fraud occurs. To help you keep your finger on the pulse of your organization, we can build network relationship maps and analyze the emotional tone and key topics of your email communications.
Risk Management & Social Media
One of the hallmarks of successful risk management is planning. Early in the risk management process, we can analyze your transactions for compliance exceptions,
Social media is laden both with data and context. Proactively monitoring your organization’s image in social media can help you mitigate risk, protect your reputation and manage crises. Our data analysts use sophisticated tools and techniques to pull public data from social media channels, online forums, news articles and other online sources.
AI-Based Risk Analytics
Bank Employee Account Review
Banks of all sizes are encouraged by examiners to review employee accounts for risk. Without an efficient method for leveraging data, banks often resort to time-consuming manual procedures. BKD offers a different approach. Our employee account review service uses the power of data analytics to automate the review process and provide you with clearly organized data.
Campaign Finance Analytics
Managing a political campaign can be demanding. Well-run campaigns reconcile bank and accounting records to campaign finance reporting, evaluate the effectiveness of fundraising efforts and analyze contribution sources. Our data analytics expertise can equip you with the insights to manage complex campaign finances.
Corruption Risk Analyzer
Corruption accounted for 38 percent of the fraud cases in the Association
Emotion & Sentiment Analysis
Emails, text messages and social media posts can speak volumes about the author’s emotional state. Detecting certain sentiments early can help mitigate and sometimes prevent crises in your organization. Our emotional tone detection system and sentiment analysis services can be tremendously beneficial in investigations, litigation and risk management.
Health Care Contract Rate Analytics
Nearly every health care organization has one or more contracts for receiving payments. Managing these contracts and evaluating if payments meet the stated terms is important, but handling massive volumes of contract data can be a challenge. We go beyond sampling to perform in-depth contract
Loan Portfolio Analytics
Loan portfolios represent the lion’s share of assets for many financial organizations, but they can also pose risks to financial safety and viability. What are you doing to protect your loan portfolio? While most approaches to loan risk focus on sampling and large credits, BKD uses forensic data mining to analyze the entire portfolio to help you manage fraud risk.
Nonprofit organizations need more than good hearts to further their mission. To serve your constituents well, you need to manage your organization as efficiently and responsibly as a for-profit business. BKD can help you evaluate the effectiveness of fundraising efforts, analyze contribution sources and monitor your outcomes.
Purchasing Card Analytics
Purchasing cards—also known as corporate credit, procurement or travel cards—have empowered employees to make purchasing decisions. They've also exacerbated fraud, waste and abuse. Our team of analysts and Certified Fraud Examiners can effectively leverage the data-rich nature of purchasing cards to help identify high-risk transactions throughout the population.
Reputational Risk Monitoring
With the prevalence of social media, it’s important to identify
Vendor Risk Analytics
Monitoring vendor activity plays a key role in managing fraud risk. Nearly all of the top fraud schemes involve cash disbursements, most of which run through an organization’s vendors and accounts payable. Our proprietary vendor risk analytics solution can provide you with an overall vendor risk score to help identify the high-risk vendors in your organization.
From hourly time records and weekly payroll to email, social media, internet and computer usage, workforce management is laden with data. “Enterprise amnesia”—missing out on potentially unknown data—can greatly limit your decision making. Our workforce analytics solution can help you identify employee- and payroll-related risks and help make informed decisions.