Research on the application of big data analytics in corporate financial fraud detection
Keywords:
Big Data Analytics; Corporate Finance; Financial Fraud Detection; Real-Time And Accuracy; Data PrivacyAbstract
With the expansion of the scale of enterprises and the increase of business activities, fraud in the financial field has become one of the serious challenges faced by enterprises. Traditional financial auditing methods appear to be inadequate in the face of increasingly complex financial fraud techniques. Therefore, this study focuses on the application of big data analytics in corporate financial fraud detection to improve the efficiency and accuracy of fraud detection. First, this study reviews the limitations of traditional financial auditing methods and analyses the advantages of big data analytics technology, including the ability to handle massive amounts of heterogeneous data, real-time performance, and the ability to detect hidden patterns. Subsequently, the study explores in detail the specific application scenarios of big data analytics in financial fraud detection, including the identification of abnormal transaction patterns, network analysis of supply chain relationships, and abnormal detection of employee behaviour. The results of the study show that big data analytics can not only detect potential financial problems earlier, but also reduce the false alarm rate and improve the accuracy of fraud detection. Finally, this study summarises the value of the application of big data analytics in corporate financial fraud detection and points out the direction of future research, including further optimisation of algorithms and improvement of data privacy protection. This study provides useful experiences and references for enterprises to introduce big data analytics in financial management, which is expected to achieve more significant results in the financial field.
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APA:
Cheng, G., Chen, Z., Xu, Y., Wang, J., & Liu, Y. (2023). Research on the application of big data analytics in corporate financial fraud detection. International Scientific Technical and Economic Research, 1(4), 20–24. http://www.istaer.online/index.php/Home/article/view/No.2317
GB/T 7714-2015:
Cheng Guochangxiong, Chen Zhao, Xu Yihan, Wang Jiancheng, Liu Yu. Research on the application of big data analytics in corporate financial fraud detection[J]. International Scientific Technical and Economic Research, 2023, 1(4): 20–24. http://www.istaer.online/index.php/Home/article/view/No.2317
MLA:
Cheng, Guochangxiong, Zhao Chen, Yihan Xu, Jiancheng Wang, and Yu Liu. "Research on the application of big data analytics in corporate financial fraud detection." International Scientific Technical and Economic Research, 1.4 (2023): 20-24. http://www.istaer.online/index.php/Home/article/view/No.2317
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