Analytics , Fraud Management & Cybercrime

ACFE: Budget Constraints Stand in the Way of Data Analytics

Budget constraints are the reason many enterprises have not been able to move to the next stage in applying data analytics for fraud and risk management, says Andi McNeal, director of research at the Association of Certified Fraud Examiners based on the findings of the ACFE/SAS 2022 Anti-Fraud Technology Benchmarking Report.

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"Anti-fraud technologies are one of the many technologies that enterprises are trying to apply and requesting budgets for. We are seeing success where groups can come in and join fraud analytics with other analytics initiatives in the organization," she says.

In a video interview with Information Security Media Group, McNeal also discusses:

• The anti-fraud tools that will evolve in 2022;
• Technological challenges in implementing data analytics;
• How data analytics can be leveraged for unstructured data.

McNeal is the director of research for the Association of Certified Fraud Examiners, where she oversees the development and production of educational materials related to the prevention, detection and investigation of fraud. She is co-author of the ACFE Report to the Nations, a biennial report on the costs and effects of occupational fraud, as well as several other anti-fraud benchmarking reports.