This message has been cross posted to the following eGroups: Multi-Industry Auditing and Monitoring and Multi-Industry Chief Compliance and Ethics Officers .
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On September 18, 2012, Brigham Young University reported, "Researchers from Brigham Young University have helped create the most robust and accurate fraud detection system to date using information from publicly available financial statements. Using business intelligence software that learns and adapts as it processes data, a team of professors from the Marriott School of Management developed a model that [the researchers claim] correctly detects fraud with 90 percent accuracy.
"'We've improved on 30 years of research in terms of accuracy in capturing fraud patterns,' said Jim Hansen, information systems professor and study co-author....
"Lead author Ahmed Abbasi of the University of Virginia, along with Hansen and BYU information systems colleagues Conan Albrecht and Anthony Vance have spent several years developing their fraud detection tool, 'MetaFraud.' The MetaFraud framework is comprised of several base-level artificial intelligence "learners" that feed their results into a 'meta' or overarching business intelligence algorithm that learns and adapts over time."
More: http://news.byu.edu/archive12-sep-frauddetection.aspx
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Thank you,
Eric Newman, Esq., CCEP
Social Media Manager
HCCA/SCCE
eric.newman@corporatecompliance.org (952) 405-7938
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