Focusing Data Analytics to Fight Fraud

July 7, 2016

Applied correctly, data analytics can be of great to help compliance officers and chief audit executives. Writing for the FCPA Report, Bill Olsen, Dan Reynolds and Alex Koltsov of Grant Thornton LLP suggest compliance professionals use the information about schemes highlighted in Department of Justice and Securities and Exchange Commission settlement papers to identify potential compliance red flags and to help improve their monitoring systems. The report details three risk areas, cited in recent enforcement actions, that are primed for data analytics: product discounts; commissions; and meals, gifts, travel, and entertainment.