EY India's forensic data analytic models are developed to identify variances in data sets, which may impact an organization’s profit and loss statement. Check out the evolution of forensic data analytics.
These are slides from a lecture I gave at the School of Applied Sciences in Münster. In this lecture, I talked about **Real-World Data Science** at showed examples on **Fraud Detection, Customer Churn & Predictive Maintenance**.
The document discusses how forensic data analytics (FDA) can help banks better detect money laundering risks and meet evolving anti-money laundering (AML) regulations. FDA uses advanced analytics on both structured and unstructured data to identify hidden relationships and behaviors that may indicate money laundering. This allows banks to more accurately predict and prevent AML risks. Major banks are already using FDA to enhance transaction monitoring and develop risk scores to flag potentially suspicious activities for investigation.
This document summarizes the key findings of a study on data security practices commissioned by Microsoft and RSA. The study found that while compliance-related data like customer information is important for companies to protect, proprietary company secrets and intellectual property are actually twice as valuable on average. However, companies devote equal portions of their security budgets to compliance as they do to protecting sensitive corporate information. Additionally, while accidental data leaks caused by employees are more common, intentional theft of secrets by employees or other parties can cost companies much more financially. The report recommends companies focus more on protecting their most valuable proprietary information rather than just compliance-related data.
Data Stewardship is an approach to Data Governance that formalises accountability for managing information resources on behalf of others and for the best interests of the organization
Data Stewardship consists of the people, organisation, and processes to ensure that the appropriately designated stewards are responsible for the governed data.
Big Data Survey/Handbook Summary Charts - 8 JULY 2013Lora Cecere
Big data is more of an opportunity than a problem -- 76% consider it an opportunity, 28% already have a big data initiative in place and another 37% plan to. The possibilities of big data are endless. It starts with thinking about how to use different data in a differentiated way.
This document discusses using big data and analytics within Oracle's Financial Services Analytical Applications (OFSAA) platform. It provides examples of using additional unstructured data sources like news feeds, research reports, and social media to improve analytics for detecting fraud, predicting customer attrition, and more accurately estimating default correlation and pricing securitized bonds. The document outlines how OFSAA currently uses only structured data but could be enhanced by incorporating big data sources to power more predictive models.
Tackling GDPR in Sitecore Versions 8 & 9Sagittarius
Agency CEO, Paul Stephen, explores the opportunity that is GDPR and how brands and marketers alike can benefit from the regulation.
Paul also talks about the exclusive reveal of the Sagittarius Sitecore 8 GDPR Tool as well as the latest release of Sitecore (version 9) and how these features will help brands tackle GDPR where previous versions have not.
These are slides from a lecture I gave at the School of Applied Sciences in Münster. In this lecture, I talked about **Real-World Data Science** at showed examples on **Fraud Detection, Customer Churn & Predictive Maintenance**.
The document discusses how forensic data analytics (FDA) can help banks better detect money laundering risks and meet evolving anti-money laundering (AML) regulations. FDA uses advanced analytics on both structured and unstructured data to identify hidden relationships and behaviors that may indicate money laundering. This allows banks to more accurately predict and prevent AML risks. Major banks are already using FDA to enhance transaction monitoring and develop risk scores to flag potentially suspicious activities for investigation.
This document summarizes the key findings of a study on data security practices commissioned by Microsoft and RSA. The study found that while compliance-related data like customer information is important for companies to protect, proprietary company secrets and intellectual property are actually twice as valuable on average. However, companies devote equal portions of their security budgets to compliance as they do to protecting sensitive corporate information. Additionally, while accidental data leaks caused by employees are more common, intentional theft of secrets by employees or other parties can cost companies much more financially. The report recommends companies focus more on protecting their most valuable proprietary information rather than just compliance-related data.
Data Stewardship is an approach to Data Governance that formalises accountability for managing information resources on behalf of others and for the best interests of the organization
Data Stewardship consists of the people, organisation, and processes to ensure that the appropriately designated stewards are responsible for the governed data.
Big Data Survey/Handbook Summary Charts - 8 JULY 2013Lora Cecere
Big data is more of an opportunity than a problem -- 76% consider it an opportunity, 28% already have a big data initiative in place and another 37% plan to. The possibilities of big data are endless. It starts with thinking about how to use different data in a differentiated way.
This document discusses using big data and analytics within Oracle's Financial Services Analytical Applications (OFSAA) platform. It provides examples of using additional unstructured data sources like news feeds, research reports, and social media to improve analytics for detecting fraud, predicting customer attrition, and more accurately estimating default correlation and pricing securitized bonds. The document outlines how OFSAA currently uses only structured data but could be enhanced by incorporating big data sources to power more predictive models.
Tackling GDPR in Sitecore Versions 8 & 9Sagittarius
Agency CEO, Paul Stephen, explores the opportunity that is GDPR and how brands and marketers alike can benefit from the regulation.
Paul also talks about the exclusive reveal of the Sagittarius Sitecore 8 GDPR Tool as well as the latest release of Sitecore (version 9) and how these features will help brands tackle GDPR where previous versions have not.
Paul Stephen - GDPR The Opportunity & Sitecore ToolSagittarius
Agency CEO, Paul, explores GDPR and the opportunity for brands and marketers as well as how those using Sitecore can tackle the regulation in Versions 8-9.
The document analyzes data breach records from 2005-2015 to examine trends by industry. It finds that healthcare, education, government, retail, and finance were most commonly affected, accounting for over 80% of breaches. Personal information was the most frequently stolen record type, compromised through various methods like device loss, insider leaks, and hacking. The analysis also looks specifically at breach trends in the healthcare industry, where loss of portable devices like laptops was a primary source of compromises.
data and_its_role_in_operational_risk_managementLaxmi Bank
This document discusses reference data and its role in operational risk management in the financial services industry. It begins by defining reference data as descriptive information about financial instruments and business partners involved in transactions. Faulty reference data can cause failed transactions and losses. The document then discusses how an increasing number of instruments, changing markets, and regulations have increased the challenges around reference data management. It explains how improving data quality, adopting standards, and streamlining processes can help firms mitigate operational risk. The document advocates that firms better understand their data systems before implementing new technology to manage risk.
Make The Most Of The New Normal – Leverage Your ERP’s Capabilities
In this webinar on-demand:
Automation helps a company’s bottom-line through cost savings and efficiencies. In many cases, it allows workers to stay safe, as automation enables workers to reduce or avoid returning to the office to process manually-based workflows such as scanning and printing invoices, purchase orders, and even checks.
Design a standardized global AP process that supports local requirements such as multi-language, multi-currency, and more
Increase adoption of purchase orders for faster and more accurate processing
Extend your ERP's functionality to invoice processes in a new way, and utilize the best features of both Canon’s Accounts Payable Automation solution and your existing ERP
Maximize your HCM solution by leveraging Canon’s content repository
Since 2013, pass-through owners have faced a potentially higher tax rate (39.6%) on their business income than their C corporation competitors (35%). This rate disparity puts them at a competitive disadvantage and hinders growth. http://gt-us.co/1SPWvqZ Learn more about how a business equivalency rate ensures all businesses are taxed equally.
When does a company need to be PCI compliantDivya Kothari
This document discusses whether ABC, a small but growing company that analyzes billing details to identify fraud, needs to be PCI compliant. It conducts a cost-benefit analysis of PCI compliance. While compliance provides security benefits, it also has significant costs. The document recommends that ABC strengthen its internal security processes regardless of PCI compliance. It suggests conducting a data inventory and analyzing its cardholder data environment before deciding on compliance.
Product Sheet: Small Business Risk Exchangeclaytonroot
XOR Data Exchange developed a secure data exchange to help companies better leverage their data through analytics to address issues like fraud and credit risk. Their Small Business Risk Exchange pulls data from multiple industries and third parties to provide insight into small businesses since most have little credit history reported. It analyzes factors like application history, account performance, online presence, and regional risk to generate a XOR credit score and fraud risk score that identify legitimate versus fraudulent applicants. An analysis found the exchange saved service providers an average of $18.83 per small business application by reducing fraud and credit losses.
The document discusses risk management in companies. It provides questions for senior executives and IT executives about risks to the business from data security, regulatory compliance, and technological issues. It also summarizes statistics about the high costs of data breaches for companies and discusses how outsourcing some risk management functions can help companies focus on compliance in today's complex regulatory environment.
Implementing And Managing A Multinational Privacy ProgramMSpadea
1. The document summarizes the key steps taken by Barclays Wealth to implement a global privacy program for collecting, using, and transferring customer data internationally in compliance with regulations.
2. This included obtaining legal requirements for all jurisdictions, identifying data flows and uses, assessing gaps against legal standards, and developing remediation plans.
3. Senior management support, dedicated resources, and stakeholder involvement were needed to successfully implement the program and ensure ongoing privacy compliance as a business-as-usual process.
Paul Stephen, Sagittarius Agency CEO, presents why he believes GDPR offers a fantastic opportunity for marketers to get their data in order and the overarching benefits it poses for brands. He also touches on how Sitecore 9 will support GDPR as well as a Sitecore 8.x GDPR tool that the Sagittarius team have developed.
La Unión Europea ha anunciado nuevas sanciones contra Rusia por su invasión de Ucrania. Las sanciones incluyen prohibiciones de viaje y congelamiento de activos para más funcionarios rusos, así como restricciones a las importaciones de productos rusos de acero y tecnología. Los líderes de la UE esperan que estas medidas adicionales aumenten la presión sobre Rusia para poner fin a su guerra contra Ucrania.
Considerações sobre identidade profissional e mercado de trabalho jornalístic...Rafael Bolsoni Bastos
O documento analisa o perfil e situação de mercado de trabalho de jornalistas formados pela PUC-Rio e UFF entre 2012-2015. O estudo entrevistou 86 profissionais e encontrou que a maioria está empregada, mas muitos em áreas não jornalísticas. As taxas de desemprego são maiores entre os recém-formados e aqueles com apenas graduação.
Forensic Services and Global Experience: the Intelligent Connection - EY IndiaNishantSisodiya
EY India's FIDS team ensures that their processes and forensic methods will support your business, by applying them consistently wherever you need them. Visit http://bit.ly/2dDrxIa
Rousseau propuso un modelo de educación naturalista basado en las necesidades e intereses del desarrollo del niño. Dividió el proceso educativo en cuatro etapas que van desde los 0 a los 20 años, enfocándose en el desarrollo físico, sensorial, intelectual y moral en cada una. Defendió que la educación debe partir del niño y su libertad natural, enseñándole a través de la experiencia y observación más que mediante instrucciones precoces.
La Bahía de los Ángeles se encuentra en el municipio de Ensenada, México. La bahía proporciona múltiples servicios ecosistémicos que benefician a la población local, los pescadores, los turistas y el gobierno local. Estos servicios incluyen la protección contra tormentas, la regulación del microclima, la productividad pesquera y el hábitat para aves y especies marinas. Además, la bahía apoya actividades económicas como el turismo y la industria maderera que generan ingres
Este documento presenta resúmenes de cuatro danzas tradicionales de la sierra peruana: el Huaylash Moderno, el Kiñuta Pukllay, el Qanchi y el Qajelo. Cada danza representa aspectos culturales diferentes como el cortejo, las actividades agrícolas o la vida de los buscadores de oro en la cordillera. Juntos, estos bailes tradicionales expresan elementos importantes de la cultura andina como el amor, la fertilidad de la tierra y la lucha del hombre por sobrevivir en la natur
This document provides a summary of Nicola Kent's work experience, including roles as a PA to CEOs and executive producers at media companies like Jamie Oliver Media Group and Fresh One Productions between 2014-2016 and 2013-2014 respectively. Prior to that, she held operations roles like Operations Coordinator at Fresh One Productions from 2010-2013, and Office Manager and PA roles from 2007-2010 at Zig Zag Productions. The document lists her responsibilities in bullet-point form for each role.
Everyone's going to the cloud. But getting it right can be difficult. If you really want to transform your business and get ahead of the competition, you have to get it right and get it right quickly. Here are 8 ways that we can help you get way ahead of the game and get there now.
Este documento discute las ventajas y desventajas de las redes sociales. Entre las ventajas se encuentran que permiten establecer relaciones con personas con intereses similares, su uso en el sector académico y laboral, y su uso para campañas publicitarias de bajo costo. Entre las desventajas están la invasión de la privacidad, que pueden ser una amenaza para la seguridad nacional en algunos países, y que su uso excesivo no necesariamente se traduce en mayor productividad. El documento concluye que
Paul Stephen - GDPR The Opportunity & Sitecore ToolSagittarius
Agency CEO, Paul, explores GDPR and the opportunity for brands and marketers as well as how those using Sitecore can tackle the regulation in Versions 8-9.
The document analyzes data breach records from 2005-2015 to examine trends by industry. It finds that healthcare, education, government, retail, and finance were most commonly affected, accounting for over 80% of breaches. Personal information was the most frequently stolen record type, compromised through various methods like device loss, insider leaks, and hacking. The analysis also looks specifically at breach trends in the healthcare industry, where loss of portable devices like laptops was a primary source of compromises.
data and_its_role_in_operational_risk_managementLaxmi Bank
This document discusses reference data and its role in operational risk management in the financial services industry. It begins by defining reference data as descriptive information about financial instruments and business partners involved in transactions. Faulty reference data can cause failed transactions and losses. The document then discusses how an increasing number of instruments, changing markets, and regulations have increased the challenges around reference data management. It explains how improving data quality, adopting standards, and streamlining processes can help firms mitigate operational risk. The document advocates that firms better understand their data systems before implementing new technology to manage risk.
Make The Most Of The New Normal – Leverage Your ERP’s Capabilities
In this webinar on-demand:
Automation helps a company’s bottom-line through cost savings and efficiencies. In many cases, it allows workers to stay safe, as automation enables workers to reduce or avoid returning to the office to process manually-based workflows such as scanning and printing invoices, purchase orders, and even checks.
Design a standardized global AP process that supports local requirements such as multi-language, multi-currency, and more
Increase adoption of purchase orders for faster and more accurate processing
Extend your ERP's functionality to invoice processes in a new way, and utilize the best features of both Canon’s Accounts Payable Automation solution and your existing ERP
Maximize your HCM solution by leveraging Canon’s content repository
Since 2013, pass-through owners have faced a potentially higher tax rate (39.6%) on their business income than their C corporation competitors (35%). This rate disparity puts them at a competitive disadvantage and hinders growth. http://gt-us.co/1SPWvqZ Learn more about how a business equivalency rate ensures all businesses are taxed equally.
When does a company need to be PCI compliantDivya Kothari
This document discusses whether ABC, a small but growing company that analyzes billing details to identify fraud, needs to be PCI compliant. It conducts a cost-benefit analysis of PCI compliance. While compliance provides security benefits, it also has significant costs. The document recommends that ABC strengthen its internal security processes regardless of PCI compliance. It suggests conducting a data inventory and analyzing its cardholder data environment before deciding on compliance.
Product Sheet: Small Business Risk Exchangeclaytonroot
XOR Data Exchange developed a secure data exchange to help companies better leverage their data through analytics to address issues like fraud and credit risk. Their Small Business Risk Exchange pulls data from multiple industries and third parties to provide insight into small businesses since most have little credit history reported. It analyzes factors like application history, account performance, online presence, and regional risk to generate a XOR credit score and fraud risk score that identify legitimate versus fraudulent applicants. An analysis found the exchange saved service providers an average of $18.83 per small business application by reducing fraud and credit losses.
The document discusses risk management in companies. It provides questions for senior executives and IT executives about risks to the business from data security, regulatory compliance, and technological issues. It also summarizes statistics about the high costs of data breaches for companies and discusses how outsourcing some risk management functions can help companies focus on compliance in today's complex regulatory environment.
Implementing And Managing A Multinational Privacy ProgramMSpadea
1. The document summarizes the key steps taken by Barclays Wealth to implement a global privacy program for collecting, using, and transferring customer data internationally in compliance with regulations.
2. This included obtaining legal requirements for all jurisdictions, identifying data flows and uses, assessing gaps against legal standards, and developing remediation plans.
3. Senior management support, dedicated resources, and stakeholder involvement were needed to successfully implement the program and ensure ongoing privacy compliance as a business-as-usual process.
Paul Stephen, Sagittarius Agency CEO, presents why he believes GDPR offers a fantastic opportunity for marketers to get their data in order and the overarching benefits it poses for brands. He also touches on how Sitecore 9 will support GDPR as well as a Sitecore 8.x GDPR tool that the Sagittarius team have developed.
La Unión Europea ha anunciado nuevas sanciones contra Rusia por su invasión de Ucrania. Las sanciones incluyen prohibiciones de viaje y congelamiento de activos para más funcionarios rusos, así como restricciones a las importaciones de productos rusos de acero y tecnología. Los líderes de la UE esperan que estas medidas adicionales aumenten la presión sobre Rusia para poner fin a su guerra contra Ucrania.
Considerações sobre identidade profissional e mercado de trabalho jornalístic...Rafael Bolsoni Bastos
O documento analisa o perfil e situação de mercado de trabalho de jornalistas formados pela PUC-Rio e UFF entre 2012-2015. O estudo entrevistou 86 profissionais e encontrou que a maioria está empregada, mas muitos em áreas não jornalísticas. As taxas de desemprego são maiores entre os recém-formados e aqueles com apenas graduação.
Forensic Services and Global Experience: the Intelligent Connection - EY IndiaNishantSisodiya
EY India's FIDS team ensures that their processes and forensic methods will support your business, by applying them consistently wherever you need them. Visit http://bit.ly/2dDrxIa
Rousseau propuso un modelo de educación naturalista basado en las necesidades e intereses del desarrollo del niño. Dividió el proceso educativo en cuatro etapas que van desde los 0 a los 20 años, enfocándose en el desarrollo físico, sensorial, intelectual y moral en cada una. Defendió que la educación debe partir del niño y su libertad natural, enseñándole a través de la experiencia y observación más que mediante instrucciones precoces.
La Bahía de los Ángeles se encuentra en el municipio de Ensenada, México. La bahía proporciona múltiples servicios ecosistémicos que benefician a la población local, los pescadores, los turistas y el gobierno local. Estos servicios incluyen la protección contra tormentas, la regulación del microclima, la productividad pesquera y el hábitat para aves y especies marinas. Además, la bahía apoya actividades económicas como el turismo y la industria maderera que generan ingres
Este documento presenta resúmenes de cuatro danzas tradicionales de la sierra peruana: el Huaylash Moderno, el Kiñuta Pukllay, el Qanchi y el Qajelo. Cada danza representa aspectos culturales diferentes como el cortejo, las actividades agrícolas o la vida de los buscadores de oro en la cordillera. Juntos, estos bailes tradicionales expresan elementos importantes de la cultura andina como el amor, la fertilidad de la tierra y la lucha del hombre por sobrevivir en la natur
This document provides a summary of Nicola Kent's work experience, including roles as a PA to CEOs and executive producers at media companies like Jamie Oliver Media Group and Fresh One Productions between 2014-2016 and 2013-2014 respectively. Prior to that, she held operations roles like Operations Coordinator at Fresh One Productions from 2010-2013, and Office Manager and PA roles from 2007-2010 at Zig Zag Productions. The document lists her responsibilities in bullet-point form for each role.
Everyone's going to the cloud. But getting it right can be difficult. If you really want to transform your business and get ahead of the competition, you have to get it right and get it right quickly. Here are 8 ways that we can help you get way ahead of the game and get there now.
Este documento discute las ventajas y desventajas de las redes sociales. Entre las ventajas se encuentran que permiten establecer relaciones con personas con intereses similares, su uso en el sector académico y laboral, y su uso para campañas publicitarias de bajo costo. Entre las desventajas están la invasión de la privacidad, que pueden ser una amenaza para la seguridad nacional en algunos países, y que su uso excesivo no necesariamente se traduce en mayor productividad. El documento concluye que
Este documento describe las funciones básicas de una computadora, incluyendo procesar información, realizar tareas de oficina, almacenar datos e imágenes, comunicarse a través de correo electrónico, ver videos y crear presentaciones. También menciona que una computadora permite crear programas y compartir información con usuarios de computadoras en todo el mundo.
Este documento describe dos tipos de semiconductores: intrínsecos y extrínsecos. Los semiconductores intrínsecos son puros y tienen pocos electrones libres de forma natural. Los semiconductores extrínsecos tienen pequeñas cantidades de impurezas que los dopan, haciéndolos tipo N si las impurezas son pentavalentes o tipo P si son trivalentes. Los dopantes tipo N añaden electrones mientras que los tipo P añaden huecos.
A União Europeia está enfrentando desafios sem precedentes devido à pandemia de COVID-19 e à invasão russa da Ucrânia. Isso destacou a necessidade de autonomia estratégica da UE em áreas como energia, defesa e tecnologia digital para garantir sua segurança e prosperidade a longo prazo. A Comissão Europeia propôs novas iniciativas para fortalecer a resiliência econômica e geopolítica do bloco.
Este documento describe los elementos básicos de un sistema de comunicación, incluyendo la fuente o mensaje, el emisor, el medio o canal y el receptor. Explica que el mensaje es la información a transmitir, el emisor envía el mensaje a través del canal y el receptor recupera el mensaje original después de la transmisión. También cubre los tipos básicos de comunicación entre computadoras como la comunicación por circuito, por mensaje y por paquetes.
The document outlines a project plan for developing an IT ticketing system for WesTek, Inc. Key points include:
- WesTek is currently using an offshore help desk system but wants a new in-house system to better support growing needs.
- DWMT Consulting Group will design and implement a web-based ticketing system over 6 months, with input from stakeholders.
- The new system will allow users to submit tickets and IT staff to manage tickets through a web portal. It will also provide reports.
- Plans include requirements, design, development, testing and training over the 6 month period. The system aims to improve user satisfaction.
This document advertises Paella Party Catering services, which offers customizable paella and tapas menus for events in Orlando, Tampa, and Miami, with the ability to serve groups from 20 to 2000 people. It provides contact information for the catering company and encourages readers to contact them to discuss catering needs for exclusive events.
Data mining software analyzes stored transaction data to identify relationships and patterns. It can group data into classes, clusters, or identify associations and sequential patterns. Data mining is used to predict trends, discover previously unknown patterns, and drive business decisions for marketing, finance, manufacturing, and government. However, privacy issues arise from personal data collection and security issues from data theft, requiring proper handling of private information.
Three big questions about AI in financial servicesWhite & Case
To ride the rising wave of AI, financial services companies will have to navigate evolving standards, regulations and risk dynamics—particularly regarding data rights, algorithmic accountability and cybersecurity.
Unveiling the Power of Data Analytics Transforming Insights into Action.pdfKajal Digital
Data analytics is the process of examining raw data to discover patterns, correlations, trends, and other valuable information. Its significance lies in its ability to transform data into actionable insights, ultimately leading to informed decision-making and improved business outcomes. From optimizing operational processes to enhancing customer experiences, data analytics offers a plethora of benefits across various sectors.
Leading Compliance Monitoring Activities to Assess Fraud and Corruption RisksRachel Hamilton
This document discusses leveraging forensic data analytics (FDA) to detect fraud. It notes that traditional audits only detect around 50% of fraud, demonstrating a need for improved analytics. FDA incorporates collecting both structured and unstructured data from sources like ERP systems, CRM, and documents to identify improper payments and behavior patterns. Effective FDA programs incorporate rule-based queries, statistical analysis, text searching, and data visualization. The document provides examples of how companies can design FDA programs, including gathering diverse data sources, processing the data, analyzing it for risk, and delivering results. It emphasizes that continuous monitoring is important for executive visibility, process improvements, and advanced fraud control.
This document discusses the importance of information governance for successful big data analytics projects. It notes that while structured data is usually well-managed, unstructured data which accounts for 90% of enterprise information often lacks proper governance. Without good governance of this unstructured data, big data projects are at risk of using low quality "bad data" which undermines the analysis. The document recommends information governance solutions to help organizations discover, categorize, and manage their unstructured information to ensure the data quality needed for valuable big data analytics outcomes.
Business Intelligence For Anti-Money LaunderingKartik Mehta
The document discusses anti-money laundering compliance software implementation following the 2001 enactment of the USA PATRIOT Act. Key points include:
- The Patriot Act delegated responsibility to FinCEN to set requirements for financial institutions to establish anti-money laundering compliance programs.
- Section 352(a) of the Patriot Act amended the Bank Secrecy Act to require financial institutions to establish anti-money laundering programs, including internal policies, a compliance officer, ongoing training, and independent audits.
- The objectives are to help businesses implement Patriot Act directives regarding information sharing about clients with suspicious activity and investigating client accounts and transactions for money laundering or terrorist funding possibilities.
Behavioral Analysis for Financial Crime Threat Mitigationaccenture
In this new Accenture Finance & Risk presentation we explore how behavioral analysis can help financial services firms strengthen their ability to identify financial crime threats and facilitate complex investigation. Get more on financial crime: https://accntu.re/2qN476b
The document discusses the role of business intelligence in implementing anti-money laundering compliance software according to regulations introduced by the 2001 USA PATRIOT Act. It outlines requirements for financial institutions to establish anti-money laundering programs, conduct customer due diligence and file suspicious activity reports. The objectives are to help banks integrate data across divisions to identify suspicious transactions and comply with directives to prevent money laundering and terrorist financing.
Dark Data Revelation and its Potential BenefitsPromptCloud
Dark data refers to the large amounts of unused data organizations collect during regular business activities. While organizations invest heavily in collecting data, much of it remains unused. There are three main types of dark data: existing unstructured internal data, non-traditional unstructured external data, and data available on the deep web. Analyzing dark data can provide valuable insights but also risks such as privacy issues. Some companies are already leveraging dark data for applications like fraud detection and personalization in retail. Approaching dark data requires getting the right data, augmenting with external sources, building data talent, and using advanced visualization tools.
Organizations continue to struggle to connect the dots and extract meaningful insight from the growing volume and variety of data in Hadoop.
Our Solution: Data Refinement, Entity Resolution and Analysis: Novetta Entity Analytics unifies the data scattered across your systems to give you a single unified view of the people, organizations, locations, and other entities or “things” and their relationships in your enterprise. By revealing the real-world networks, behaviors, and trends of the entities and relationships that exist within corporate data repositories and data silos, you can connect the dots to do completely new things such as enhance the customer experience, do more targeted marketing and reduce the risk of fraud. Novetta Entity Analytics makes Hadoop data useful to anyone using an adaptive process to unify all types of data – regardless of schema – and allows analysts to look at and connect their data in entirely new ways.
The Benefits:
- Accelerate operational insights by constructing complete 360 degree views of a customer, organization, location, product, event, at any volume from any source whether structured or unstructured
- Improve customer service and retention by identifying dissatisfied customers and service problems found in call details, transactions and other volumes of interaction data and documents
- Increase revenues by creating unified customer profiles and relationships to products and services improving cross-sell/up-sell opportunities
- Detect threat and fraud by connecting the dots between people, organizations and events across data sources including transactional details
-Lower costs by solving large complex data integration and management problems using a predictable, linearly scalable platform
OUR DIFFERENTIATORS
Understands unstructured content in context
Uncovers relationships
Finds the signal within the noise
Analytics Trends 2015: A below-the-surface lookDeloitte Canada
Big Data is a big deal for everyone these days and only growing in importance, especially when it comes to analytics generating actionable insights. Deloitte has identified eight significant analytics trends to watch in 2015 – including one supertrend that will impact everything else.
The document discusses how organizations are facing challenges managing the growing amounts of data and information from various sources. This includes extracting insights from large amounts of structured and unstructured content across the enterprise. It also talks about the need to connect people and processes to improve collaboration, decision making and customer service. New approaches to enterprise information management are needed to gain control of data, drive business optimization and enable organizations to adapt quickly to changes.
What exactly is big data? What exactly is big data? .pptxTusharSengar6
big data is data that contains greater variety, arriving in increasing volumes and with more velocity. This is also known as the three “Vs.” Put simply, big data is larger, more complex data sets, especially from new data sources.
Fraud Detection and Compliance with Graph LearningTigerGraph
This document discusses fraud detection using graph learning. It notes that fraud numbers are increasing each year as fraud becomes more complex and organized. Graph learning can help by providing a unified view of disparate data sources and enabling new insights through novel data connections. For corporations, fraud detection is predictive, while for legal enforcement agencies (LEAs) it is also investigative. Graph learning helps LEAs unify data from multiple sources and identify syndicates through community detection. While unifying data is challenging due to legacy systems and information silos, graph representations allow visualizing and computing on unified data. The document demonstrates how graphs can present relevant transaction details and connections to support fraud investigations. It recommends an approach using domain expertise, latest technologies, and
driving_business_value_from_real_time_streaming_analyticsJane Roberts
Real-time streaming analytics processes data as it is generated to identify patterns and insights without disrupting existing systems. This allows businesses to act with certainty on the latest data and make complex decisions more easily. The document discusses use cases like predictive maintenance, customer behavior analytics, and internet of things analytics. It also introduces StreamAnalytix, a streaming analytics platform that can build applications across industries using a visual interface and integration with Hadoop.
Data observability is a collection of technologies and activities that allows data science teams to prevent problems from becoming severe business issues.
Unified Information Governance, Powered by Knowledge GraphVaticle
This document provides an overview of Infosys' Unified Information Governance solution powered by Knowledge Graph. It describes Infosys' vision to enable digital transformation for clients through an AI-powered core. The solution addresses challenges organizations face with complex system landscapes and data proliferation. It connects, observes, and provides sentient interaction with enterprise assets and data through a Knowledge Graph. This enables various roles to govern, manage, and consume information. Examples are provided of how the solution helps address priorities of specific roles like a CIO, CDO, and data scientist.
DATA VIRTUALIZATION FOR DECISION MAKING IN BIG DATAijseajournal
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data analytics is the process of examining large datasets to uncover hidden patterns, correlations, trends and insights that can inform decision-making and drive business strategies.
Similar to Evolution of Forensic Data Analytics - EY India (20)
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These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
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13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
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2. Key to unlocking invisible information using forensic
“lookback”
Forensic Data Analytics as a topic and its adoption within the industry had long been overdue.
With the advent of technology and increasing incidents of fraud, there has been a significant rise
in adoption of Forensic Data Analytics. Due to this, company appointed auditors and independent
directors are now seeking to implement proactive fraud-prevention solutions and are avoiding post-
incident remediation processes.
Forensic Data Analytics is a science used to proactively seek opportunities to prevent and detect
fraud, waste and abuse by leveraging information in corporate data assets. It enables identification
of meaningful patterns and correlations in existing historic data to predict future events and assess
the reasons for various fraudulent activities. Such insightful predictive information is generally
“invisible,” but provides a platform on which organizations can take business decisions related to
fraud, disputes and misconduct.
The greatest value of forensic analytics is when it forces us
to notice what we did not expect to see.“
“
3. Forensic Data Analytics 3
Big data is a reality:
The volume, variety and velocity of
data coming into the organization have
reached unprecedented levels. About
2.5 exabytes of data are created each
day, and that number is doubling every
40 months
Recent scams in the limelight:
In the recent times, India has been hit
with multi billion value scams associated
with the following:
• Anti Money Laundering
• Bribery and Corruption
• Procurement fraud and collusion in
bidding process
• Accounting misstatement
Issues in managing big data:
Big data requires high performance
analytics to process billions of rows
of data with hundreds of millions of
data combinations. The traditional
data warehousing techniques may
not be able to identify anomalies in
the existing data set thus preventing
proactive fraud management
Adoption of forensic data analytics:
The associated risks could have been
mitigated if key stakeholders would
have paid attention to anomalies at
an earlier stage. This could have been
possible if existing data assets were
analyzed from forensic perspective to
avoid wrongful or criminal deception
intended to result in financial or
personal gain.
1. Big data
• Proactive fraud prevention management
• Controlling the magnitude of fraud in a reactive
set up
• Effective and focused internal controls
• Improving regulatory and compliance environment
How does forensic data analytics help organizations?
Evolution of forensic
data analytics
2. Manage
data
3. Key Risk
Events
4.
Forensic
Data
Analytics
Forensic analytics is the oil of
the 21st century which protects
organizations combustion
engine from going bust
Absence of forensic evidence
is not evidence of forensic
absence
Torture the data, and it will
confess to anything
Without big data analytics,
companies are blind and deaf,
meandering aimlessly like a
deer on freeway
4. Forensic Data Analytics4
Our forensic analytic models are developed to
identify variances in data sets, which may impact
an organization’s profit and loss statement. This
model also touches on various aspects, from simple
narration captured in a transaction to complicated
sentiments and tone analysis. It also includes data
within applications and data recorded on social and
professional networks for further analysis. This analysis
helps a company to move beyond identification of low
value pilferage to implementing controls on existing
and potential weak areas. Any dataset in historic, near
real time and real time form can be assimilated through
big data solutions to help a company improve its
bottom line by checking fraudulent activities
Capability landscape
Forensic Data Analytics can be used as a standalone
service or in conjunction with existing practices
such as investigations, audits, process review and
due diligence. In the current context, data exists
in structured (multiple form of databases) and
unstructured forms (emails, office documents,
presentations, Excel sheets, PDF files, archive files,
text and image files) in organizations. Using EY’s
proprietary tools, raw data can be transformed
into formats that can be analyzed, and with the
help of advanced analytical capabilities, anomalies
can be identified that may indicate potential fraud.
Some of our key offerings include, but not limited
to, identification of fraud in vendor, customer and
employee registration, procurement to pay, order to
cash, sales and distribution, travel and entertainment,
payroll disbursment.
EY_Class
Assets
Cost of R evenue
Expense
Expenses
Functional Transfer Ac..
Liabilities & Stockholde..
Local Legal Accounts (..
Other income and ded..
EY_Account_Name
Product/Program R ela..
Purchases notcapitali..
(G )/L on Sales of Equip..
13th Month Salaries #1
A&P - Customer Events
A&P - Trade s hows
A&P Collaterals - Prod..
A/P - Credit out of Debi..
EY_TIME_TAG
After office hours entries
W ithin Office hours ent..
EY_Entry_week_day
Sunday
Monday
Tuesday
W ednesday
Thursday
Friday
Saturday
EY_Entry_month_end
No
Yes
S ample Dashboard
User_ID
AKLERK
ANVSCHAIK
BATCHUSER
BJANKI
CKLEIN
CLABRAVEGA
GGOOSEN
JHAMAKER
NWINTER
PWENNEKES
RVBEUSEKOM
SAMEIER
SKAYA
TKOPPENS
TSMITS
0M
100M
200M
Amount
0K
50K
DistinctcountofJournal_ID
1,864
91
2,541 333
4
716 291
34
50,276
79,779
2 2,393 3,705
9,131
4,869
J ournal E ntries and Amount Per User Debit/Credit
Credit
Debit
EY_Account_Name
-60M -40M -20M 0M 20M 40M 60M
Amount
NL trading account NX
Trade R ec'bles - R eceivables
Agency Billing Settlement Ac..
FSMA R evenue - Other Disc..
R ental R ev. - Short Term R e..
58,874,500
60,565,488
Amount per Account Name
EY_Sub_Category
-60M -40M -20M 0M 20M 40M 60M
Amount
Accounts R eceivable: Trade
Other Current Assets: Miscel..
Due to (from) Trade and Oth..
R ental R evenue: R ental Agr..
Deferred R ental R evenue
Deferred R evenue Managed..
67,944,770
58,874,500
-67,944,770
Amount per S ub C ategory
Account Name
Effective_Date
2011
J uly August September October November December
2012
J anuary February
-10M 0M 10M
Amount
-10M 0M 10M
Amount
-10M 0M 10M
Amount
-10M 0M 10M
Amount
-10M 0M 10M
Amount
-10M 0M 10M
Amount
-10M 0M 10M
Amount
-10M 0M 10M
Amount
Agency Billing Settlement Ac..
Agency Billing Settlement Ac..
Billing Settlement A (165799..
Deferred R ev. - FM (213009..
Deferred R ev. - FSMA (2130..
Deferred R evenue - R ental (..
FM R ev. - Additional Sales (..
FM R ev. - FSMA R ev. Varia..
-801,576
-620,377
-943,525
-393,707
-615,525
-192,406
-454,933
-274,752
-254,811
-83,159
Account name per month (C alculated Based on Document Number)
Figure 1: Structured output from unstructured data
Unstructured data
Forensic data analytics
Structured output
5. Forensic Data Analytics 5
Link Analysis
Link Analysis is a data-analysis technique used to
evaluate relationships (connections) between nodes,
including organizations, people and transactions. Key
applications of this technique include analysis of EPBX
data, mobile bills and user logical access records that
help a company map its user footprint.
In a recent incident in a manufacturing company, its
phone records were analyzed across different zones
to determine the nexus between its employees and
selected vendors on procurement and disposal of
scrap. Using Link Analysis, we were able to establish
“hidden” relationships and information leakage from
suspected employees to identified vendors for possible
“kickbacks.”
Our key differentiator in forensic
data analytics
The size and width of
connectors indicate
frequency of the calls
Employee-
vendor nexus
Vendor group
Third party
Employee group
Figure 2: Link Analysis
At EY, data analytic techniques applied to internal or
external fraud follows a four pillar approach — WHO-
WHAT-WHEN- WHY. This approach looks at any
situation from all possible angles and highlights key
issues. This does not only help in managing risks, but
also in identification of potential growth areas.
Increasing concerns about fraud and vulnerability can
be alleviated by a range of forensic techniques, some
of which are presented below.
“ ”
The key to identify fraud lies in the ability to
comprehend what lies beneath.
6. Forensic Data Analytics6
Social Network Analysis
Social Network Analysis views relationships in terms
of network theory, which consists of nodes and ties.
Nodes represent individual “actors” within the network
and Ties represent relationships between individuals,
e.g., friendships, kinship, organizational position, etc.
Social Network Analysis, along with Link Analysis,
helps to identify related parties, conflict of interest, bid
rigging, among other fraud.
In a large consumer products company, the India lead
had appointed his relatives as distributors, and through
known vendors, managed distribution of products in
key states. Social Network Analysis, followed with a
background check, helped to reveal the nexus. This
led to a full-blown investigation and the company now
undergoes vendor due diligence before it carries out
any business.
Concept Clustering
Concept Clustering involves grouping similar entities
or behavior into tight semantic clusters for the purpose
of identifying anomalies or red flag. It is used actively,
along with an electronic data review. In this example,
Concept Clustering was executed on more than a
million documents to identify all the information with
terms such as “gifts,” “incentive” and “facilitation.”
We were able to bring these down to a sizable volume
with the required criteria that was analyzed in a time-
bound manner. Concept Clustering can be effectively
used on structured and unstructured data.
Sentiment Analysis
Known as behavioral analysis, this refers to the
application of text analytics to identify and extract
subjective information including the attitudes of
writers, their affective state and the intended
emotional quotient. It determines whether expressed
opinions in a document are positive, negative or
neutral. The “fraud triangle” can be applied to
categorize events into rationalization, opportunity and
pressure to identify sentiments. Organizations use this
data to conduct behavioral training, stem attrition,
and identify disgruntled employees and potential fraud
conversation.
Figure 3: Social Network Analysis
India sales head
Vendor network in east
Vendor network in west
Relatives as key distributors
Vendor network in south
Vendor network in north
India lead managing business throughout
India through relatives as key distributors
Figure 5: Sentiment Analysis
Miscellaneous
DerogatoryCursingConfusedSurprisedAngry
Fraud Cash Gift
Figure 4: Concept Clustering
7. Forensic Data Analytics 7
Tag Cloud
One of the most widely used visual techniques is a Tag
Cloud. This is a good example of expressing complex
data that can be understood intuitively. A Tag Cloud
is the visual representation of communication relating
to transactional data entries. It is represented by a
combination of words in varied fonts, sizes or colors.
This format is useful for quickly determining the
important terms to identify key fraud issues
Interactive CXO dashboards
A useful feature of analytics is that an entire data set
can be converted to a meaningful dashboard for a CXO
analysis.
Such dashboards help in understanding databases and
spreadsheets of any size with their easy drag and drop
interface. They not only display information visually
in seconds, but also create interactive maps with the
click of a mouse. They can effectively analyze time
series from years to months to the actual time in a day.
Their most helpful feature is their capability to combine
different databases to a single view and publish
interactive dashboards on the Web.
Here, we have sliced the entire expense dump of an
organization from four key lenses including WHERE
(geography), WHAT (type of expense), HOW (expense
description) and WHO (the employee who incurred the
expense). Having multi-dimensional data on a common
platform helps a company perform an insightful analysis
to determine the tests that need to be performed on
expense data.
Figure 7: Interactive CXO Dashboard
Figure 6: Tag Cloud
Data Visualization —
identifying the “hidden” from “not so apparent”
Data Visualization techniques have proved to be effective, since humans can better absorb large pieces of
information in a visual format than that displayed in numbers or text. When the result of a fraud identification query
is combined with Data Visualization, e.g., an account payable or journal entry data, a significant amount of useful
and previously invisible information can be reviewed at one go.