Soft Solutions to Fraud Problems

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CAATs enable investigators to obtain a quick overview of business operations, develop an understanding of the relationships among various data elements, and easily drill down into the details of specific areas of interest. A systematic approach to fraud investigation that involves the identification of unusual activity with the aid of CAATs, including the use of digital analysis techniques such as Benford's Law, can help to ensure that corrupt activity within the organization does not remain undetected.

Data analysis programs feature many commands that review records for fraud symptoms, such as the existence of duplicate transactions, missing transactions, and other anomalies. Examples of applications for these types of functions include:

•  Comparing employee addresses with vendor addresses to identify employees who are also vendors.

• Searching for duplicate check numbers to find photocopies of company checks.

• Scanning the list of vendors to identify those with post office boxes for addresses. These records can be easily extracted from the vendor file for further follow-up to ensure they represent legitimate vendors.

• Analyzing the sequence of all transactions to identify missing checks or invoices.

• Identifying all vendor companies that have more than one vendor code or more than one mailing address. Such listings may represent "phantom" vendors, which exist for the sole purpose of stealing payments from the company

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