SEC Eyes Data Mining to Boost Fraud Detection

See on Scoop.itData Nerd’s Corner

The “drastically reduced cost” and increased power of analytics are driving efforts to track down companies that seem to be doing a whole lot better than everyone else.

Carla Gentry CSPO‘s insight:

What’s changed is the “drastically reduced cost” and the greatly increased power of electronic data analysis, he said. Via data-mining, SEC investigators can explore how “the many threads” of complex frauds converge, Woodcock says, noting that the coordination of such efforts across different SEC units will help make fraud detection more efficient.  

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