What do we mean by forensic data analytics? In this document, FDA refers to the ability to collect and use data, both structured (e.g., general ledger or transaction data) and unstructured (e.g., email, voice or free-text fields in a database), to prevent, detect, monitor or investigate potentially improper transactions, events or patterns of behavior related to misconduct, fraud and noncompliance issues. 04 What does good look like? Our survey found those organizations receiving positive results from FDA have a number of elements in common. They are more likely to: • Use advanced technology What is cybercrime? In almost every circumstance, those companies using In the context of this survey, cybercrime is the use of a more sophisticated analytics, beyond basic spreadsheet-type, computer and its network to commit fraud such as illicit rules-driven tests, report better fraud detection in less time. transferring of funds, disrupting critical business operations, These successful FDA deployments are harnessing sophisticated or stealing intellectual property (IP), confidential personal analytics tools, including social media and web monitoring, voice data and other critical digital assets. searching and analysis, and visualization and reporting tools. • Analyze more data e have observed a positive correlation between the use of large W data volumes (over 10 million records) and achieving positive results of FDA implementation. The same is relevant to data variety, with those reporting positive results also applying a much broader array of both structured and unstructured data sources. What is an insider threat? • Invest more of their total compliance and anti-fraud spend in FDA A current or former employee, contractor or business partner Our survey found those reporting positive results invest with authorized access to an organization’s network system one-third of their total anti-fraud program budget on FDA. or data who intentionally uses this access to compromise the confidentiality, integrity or availability of the organization’s Around the world, many leading organizations are harnessing data or information systems. Insider threats can include fraud, the full benefits of FDA, but others are struggling to do so. IP theft, unauthorized trading, espionage or information Boards and senior-level management who see FDA’s potential, technology (IT) sabotage — where a malicious insider disrupts but have yet to come to terms with the investment required, information systems, breaches confidentiality or destroys need to understand the broad range of value that sophisticated or corrupts data. analytics can deliver. Once this is appreciated, the business case for FDA becomes clear. Global Forensic Data Analytics Survey 2016 | 5