In this electronic day and age, people seem to think that it has become harder for people to commit fraud and get caught. This is a misconception because it has become easier with all electronic methods of transferring data and giving out information.
These days everything is done on computers, deals, transactions, deadlines. All details, even those we think are deleted, are actually still in cyber space and its becoming easier and easier for investigators and scam artists to find and use that information.Where first, signatures were needed for money and asset transfers, these days all it needs is a few commands on the computer and the deed is done.
Electronic transfers are easier, but certainly not without problems. It has become easier to track the people who withdraw money, especially when the company is not strict in their security.
How to Trace Suspicious Activities
Technology has changed the way fraud is committed, but it has also made it easier to detect it. All digital transactions leave ‘paper trails’ behind them. They cannot hide these trails and as a consequence it becomes easier for investigators to follow them through fraud investigation techniques once they know what to look for. Easily available software has now made it possible to analyze large amounts of data in a short span of time.
This is one of the more effective methods because it can give the company two options. One is that this program can scan and monitor the accounting systems in a business by these investigative techniques. It does so in an assigned space of time, recording all anomalies or abnormalities. Investigators can keep a check on these anomalies and track them back to find the people committing fraud.
The second option is to monitor them continuously and then use the company database to conduct surprise checks on their books. These checks can give them an idea of the abnormalities in the system and they can trace the abnormality to the source.
What to Look For
Some problems that these programs look for are rather simple.
Sometimes the transactions are comprised of a large amount of money, but such transactions alert a supervisor. If more than one transaction like this takes place, the software red flags it.
Instances where partial payments are repeatedly made by clients are also a clear sign of fraud occurring. A sudden change in purchase patterns is a bold sign for fraud. The frequently checked transactions let the software notify the company and they can hire more investigators to find out more details.
It remains unclear, however, until the matter is looked into completely. The credit card investigators job is to find out if these occurrences and determine whether they are fraudulent or legitimate.
Digital forensic data investigation is a useful tool, but it is not the only tool to help companies find out and catch fraudulent people. The software helps, of course, but it only records data, leaving it to regular people to find out if it’s suspicious or not