Discussion topic 1: Computer Forensics: Prevention and Detection Companies use v

Question

Discussion topic 1: Computer Forensics: Prevention and Detection
Companies use various types of computer software embedded in their accounting systems to prevent and detect fraud. Research one such program and explain in your own words how it prevents or detects fraud.
Software programs are also used in fraud investigations. These programs include case management software, graphics software, and data extraction software. Give an example of how case management software assists a fraud investigation. Next, provide an example of how graphics software can be used in a fraud case. Third, give an example of a type of evidence that can be obtained through a data extraction program

Explanation / Answer

Advances in technology increasingly are allowing organizations to implement automated controls to help prevent and detect fraud. Technology also allows organizations to move from static or periodic fraud monitoring techniques, such as detective controls, to continuous, real-time fraud monitoring techniques that offer the benefit of actually preventing fraud from occurring. This GTAG describes both periodic and continuous monitoring techniques. Numerous advanced analytical software packages are now available to assist in data analysis. This GTAG addresses techniques in general, and does not endorse any specific platform. Computer forensic technology and software packages are available to assist in the investigation of fraud . where computers are used to facilitate the fraud — or to identify red flags of potential fraud. Computer forensics is an investigative discipline that includes the preservation, identification, extraction, and documentation of computer hardware and data for evidentiary purposes and root cause analysis. Examples of computer forensic activities include:

Recovering deleted e-mails.

Monitoring e-mails for indicators of potential fraud.

Performing investigations after terminations of employment.

Recovering evidence after formatting a hard drive

Computer forensic activities help establish and maintain acontinuing chain of custody, which is critical in determining admissibility of evidence in courts. Although the CAE and internal auditors are not expected to be experts in this area, the CAE should have a general understanding of the benefits this technology provides so that he or she may engage appropriate experts, as necessary, for assistance with a fraud investigation

In the fraud examination profession, case management consists of two complementary but different types of activity:  

Numerous case management systems are available to help fraud examiners perform these functions better and more easily. Some specialize in reactive functions, while others focus on proactive tasks; several do both. However, because of space limitations, this series will discuss only case management systems that perform reactive, investigation-related functions. For the same reason, the series won’t provide pricing information for any of the systems it covers. Given the critical role of CMS, it’s wise to be on the lookout for ways to improve it whether your present software is digital, paper-driven or — most likely — a hybrid. Here’s an overview of what many CMS developers offer to help you and your team produce optimal investigative results. But first, three members of the ACFE faculty with extensive experience in this area offer their insights on the most important factors to consider when evaluating a CMS.

To prevent Fraud detection i-Sight's power ful solotuion software is one of the best. It isreporting tool provides all the information you need to manage fraud risk and implement fraud prevention programs. By studying trends and analyzing investigation data, your company gains an understanding of its vulnerabilities and areas that need improvement.

Automate Your Fraud Detection Process

The keys to a successful fraud identification program are early, swift detection and quick, comprehensive investigations. Fraud Analytics Suite is an early fraud detection tool developed to streamline this process.

Our fraud detection software combines predictive data modeling technology, identity search technologies, fraud indicator business rules, company claims information and industry data sources to help flag suspicious claims as early as the first notice of loss.

Fraud Analytics Suite allows you to:

Fraud Analytics Suite requires minimal adjuster intervention, yet provides a consistent and systematic review of all claims. In the event a claim is deemed suspicious, the workflow rules prioritize and organize claims so the appropriate action can be taken. Fraud Analytics Suite increases the quality and timeliness of referrals to the SIU, ensuring investigators focus on the highest payback opportunities

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