In my interactions with the corporate compliance community, I have found a common lack of appreciation and vast under-utilization of data. When I speak with compliance education programs in both academic and professional settings, my questions on how they teach the use of data is most often met with blank stares. I believe this data gap is an unfortunate disservice to the compliance profession: just as surely as it would have been to ignore the power of computer technology decades ago. The Fraud Section’s establishment of the Data Analytics Team is a recognition that data science is here to stay in the world of white collar enforcement. The only question is whether the world of corporate compliance can catch up?
See my article on the Use of Data Analytics in White Collar Enforcement