How is data analysis actually being used to detect purchasing card and T&E fraud?
Fraudulent use of purchasing or procurement cards (P-Cards) and fraudulent claims for travel and entertainment expenses (T&E) rank among the most commonly occurring types of employee fraud.
According to the Association of Certified Fraud Examiners’ (ACFE) most recent Report to the Nations on Occupational Fraud and Abuse, T&E frauds alone account for 14.5% of all frauds uncovered. If there is a risk that T&E or P-Card fraud becomes widespread within an organization, it is easy to see that total losses can represent a significant sum. Of course, the negative impacts on an organization resulting from these forms of employee fraud are not limited to monetary ones. In organizations where such fraud does become widespread, it is often symptomatic of a general unethical attitude: “I know others are doing it—why shouldn’t I?”
This eBook will cover:
- How data analysis can be used to detect purchasing card and T&E fraud
- How to manage the entire fraud detection process
- 11 steps for testing for P-card and T&E fraud