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Fraud and error prevention

Using advanced analytics to quantify and reduce risk

Almost every organisation is susceptible to fraud, waste, mismanagement and abuse

New figures from the National Fraud Authority (NFA) have revealed fraud costs the UK over £30 billion a year. Finding how and where these problems occur has often been subject to chance – companies usually stumble upon them or are alerted by employees.

In addition, the challenges posed by the sheer volume of electronic data generated by business operations makes detailed analysis not only a business imperative but a legal obligation.

Today’s strict regulatory environment means no organisation can afford to ignore these challenges.

Moving from analytical investigations to Analytics Insight

Standard analytical approaches to identifying fraud and error focus on the underlying business transactional data. Traditional investigation methods take a systematic approach to data analysis that begins with locating, scoping, extracting, testing and verifying data sources. Once the data has been verified, a variety of analysis tools and techniques, visual data mining or statistical analysis can be used to interrogate data sets.

This approach often focuses on historic data and can be essential to understanding what, when and why certain anomalies occurred.

But can investigative approaches drive a business forward or help you predict the future?

More often than not more sophisticated analysis is required to establish patterns that can be used to predict future anomalies or areas of risk. This early warning provides organisations with the ability to adapt and reduce their exposure.

We use a range of highly sophisticated algorithms and techniques to identify and classify distinct fraud typologies and groups and to quantify their prevalence in current operations. We develop predictive models to proactively identify combinations of characteristics that drive behaviours and performance of interest.

Deloitte’s forensic and fraud analytics services

We help our clients to address these issues through a range of advanced forensic and fraud analytic services. Our state of the art secure facilities allow us to capture, analyse, and maintain a client’s data to evidential standards, and our true depth of technical expertise allows us to offer both packaged tools and to develop custom technical solutions where required.

However, any analysis must go beyond the technology and take into account an in-depth understanding of the competitive landscape, pricing strategies across the market, competing business strategies and positioning, and customer preferences. Moreover, this intelligence must be built into the process at each stage, so as to build a complete picture over time.

At Deloitte, we have brought together an unparalleled set of skills in data manipulation and analytics, and combined them with our strength in forensic sourcing and analysis, strategy consulting, actuarial and statistical analysis, financial and business modelling, and accounting. Together these capabilities enable us to answer the most complex strategic questions, and provide robust advice on an array of business issues. Our intention is to help our clients make better decisions, consistently.”


Jarrod Haggerty, Partner, Deloitte
Richard Hammell, Partner, Deloitte Consulting

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