Profiles of Corrupt Payments

Compliance Podcast Network – The purpose of brakes on a car is not to slow down, but to enable the car to go fast and stop when necessary.

Following up on a podcast with Vince Walden about research done by his company KonaAI with MIT, Tom Fox writes about the tell-tale characteristics associated with high-risk payments. Common characteristics they found include payments made without purchase orders, those flagged by anti-corruption keywords, and those that deviate significantly from the norm. Fox notes that data analysis tools can be useful for tracking and identifying improper payments. Fox observes, however, that “Examining data is like peering into a crystal ball that projects the inner workings of a business, but only if you know what to look for.”

Source:

• Compliance Podcast Network: Profiles of Corrupt Payments