If the prosecution rate of white-collar crime is relatively low in this country, it’s not because of a lack of will on the part of law enforcement officials to get the bad guys. It’s because of a simple lack of sufficient IT resources to get the job done. That’s the assessment of Tim Deehan, president ofActionable Intelligence Technologies (AIT), a financial investigation software provider in Dulles, Va. I had the opportunity to speak with Deehan last week, and I started off the conversation by asking him why organizations are failing to devote sufficient IT resources to the problem. He said on the commercial side, the issue is the overhead charge; on the government side, the problem is that it’s simply not their core area of expertise. And in any case, the massive amounts of data that have to be analyzed in a fraud investigation can be overwhelming: Peter Thiel, in his book, “Zero to One,” said that “Big Data is dumb data.” The tendency is to get massive systems, and to get all of this information via the IT capabilities, but you still need that human who understands how to do a financial investigation. They tend to get buried in […]
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