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Electronic Fraud Pattern Analysis

As cases of fraud become more prevalent and complex, increasingly sophisticated tools are required to detect them. Electronic fraud pattern analysis can effectively identify the red flag markers of fraud and financial crime.  

Electronic fraud pattern analysis is becoming an increasingly vital tool in the forensic accountant’s arsenal of weapons in detecting cases of fraud and financial crime. Our team of computer forensics experts are able to identify patterns in a company’s data that could indicate instances of fraud.

Whereas the huge amounts of data that are now associated with a business’s transactions can sometimes been seen as a hindrance to the detection of fraud and financial crime, employing electronic fraud pattern analysis actually returns more robust results from larger datasets as anomalous patterns become more obvious.

Our team of skilled and knowledgeable digital forensics experts employ electronic fraud pattern analysis techniques to identify any unexpected, erroneous, or anomalous patterns that appear in a dataset. These can then be further investigated using our team’s computer forensics expertise to extrapolate evidence of fraud and financial crime.

Depending on the nature of the business and of the potential fraud itself, there are a number of different techniques that our cyber forensics experts will employ, either alone or in combination, to detect fraud patterns. These include:

  • Ratio Analysis
    Computer forensics investigators can analyse the ratio between numerous values within a company’s accounts. For example maximum/minimum unit prices can be examined to identify if regular prices are being paid for products, or maximum/second highest ratios can identify if certain vendors are being paid disproportionately more than others.
  • Duplicate Transactions
    The identification of numerous duplicate or similar transactions could suggest a duplication of costs without the corresponding duplication of results.
  • Trend Analysis
    Numerous categories of financial trends (including purchasing, contract awards, profits vs. market correlation, and tax payments) can be subjected to electronic fraud pattern analysis to identify any anomalous configurations.
  • Even Amounts
    Certain patterns of even or rounded up amounts can provide a red flag to show our forensic computing analysts that actual amounts are not being faithfully recorded. These seemingly small-scale amounts can quickly add up and are also often indicative of a culture of fraud within a business.

The sophisticated tools and techniques employed in electronic fraud pattern analysis can rapidly evaluate an entire dataset, achieving results which would be far beyond the capabilities of a personal audit. Tools can be automated or manually run for maximum efficacy and this method is now proving to be a valuable tool in the effective and robust identification of fraud and financial crime.

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Contact one of our BTG Advisory specialists to discuss our services in further detail

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