Accounting / Financial Statement Fraud
Financial statements and/or other documents are altered or presented in such a way that they do not reflect the true value or financial activities of the organisation. This can involve accounting manipulations, fraudulent borrowings / raising of finance, fraudulent application for credit and unauthorised transactions / rogue trading.
Criminal violations of laws that promote or maintain market competition by regulating anti-competitive and unfair business practices conduct by organisations. Examples may include price fixing, excessive, predatory or discriminatory pricing, unfair trading terms, and tying (i.e. stipulating that a buyer wishing to purchase one product must also purchase all or some of his requirements for a second product).
In data mining, anomaly detection is the identification of data points, items, observations, or events that diverge from an expected pattern or the majority of data. These anomalies may signal a threat, such as fraud, cyber intrusion, or errors in texts.
Artificial Intelligence (AI)
AI is the ability of a computer programme or a machine to think and learn. It uses computer science programming to imitate human action and thought, so as to analyse data and algorithms, anticipate and solve problems, learn and self-teach to perform tasks, and analyse and adapt to surroundings and problems. Examples include Natural Language Processing, Natural Language Generation, Voice Recognition, Machine Learning and Biometric Authentication
A verification or security process that uses biological
characteristics to identify an individual. Examples include facial scanning, fingerprint authentication and iris scanning
Bribe / Bribery
Bribery refers to the offering, giving, soliciting, or receiving of any thing of value as a means of influencing the actions of an individual holding a public or legal duty. Examples include kickbacks, extortion, gifts (with strings attached), facilitation payments, etc.
Fraud against a company through illegitimate use of, or deceptive practices associated with, its products or services by customers or others (e.g. mortgage fraud, credit card fraud).
Contract or other unstructured data review
Review of information that is not organised in a pre-defined data structure or simply lacking a pre-defined data model. Unstructured data is often heavily loaded with text and other information presented in a format that is hard for traditional programmes or mainstream relational databases to analyse. Examples include contracts, machine data, and log files.
Dishonest or fraudulent conduct by those in power, typically involving bribery or conflict of interest.
The intentional use of deceit or other criminal conduct to deprive another of money, property or a legal right or to effectuate an economic harm.
GRC (Governance Risk and Compliance) Solutions
GRC refers to a company’s coordinated strategy for corporate governance management, enterprise risk management, and corporate compliance. A GRC solution enables the coordination and creation of controls and policies in accordance with regulatory and internal compliance requirements.
Intellectual Property (IP) Theft
IP theft including the theft of intellectual property and trade secrets as well as the intentional criminal use of a patent, copyright or trademark and the trafficking of counterfeit products and services. This does not include non-criminal infringement of a patent, copyright or trademark that can be remedied under civil law.
Insider / unauthorised trading
Insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, non-public information about the security. Insider trading violations may also include ‘tipping’ such information, securities trading by the person ‘tipped’, and securities trading by those who misappropriate such information.
Money laundering and sanctions
Actions intended to conceal or legitimise the proceeds of crime by disguising their true origin, thereby making illegally-gained proceeds (i.e. "dirty money") appear legal (i.e. "clean").
Natural Language Processing (NLP)
NLP is artificial intelligence to help computers understand, interpret, and manipulate human language. NLP bridges the gap between human communication and computer intelligence.
A sanction is an official action taken by a government body to enforce a law or behavior or punish non-compliance. Examples include trade or economic sanctions.
An illegal practice where an organisation or corporation intentionally avoids paying its true tax liability.
The ability of a computer software or hardware device to recognise and decode the human voice. It is often used to write without keyboards, operate devices, and execute commands.