Global forensic data analytics survey

Learn why cyber breaches and insider threats, which include malicious insiders stealing, manipulating or destroying data, are the fastest-growing risks driving investment in forensic data analytics.

This Ernst & Young report aims to help businesses understand and articulate the business case for forensic data analytics (FDA) and harness its full potential in managing risk.

Key findings:

  • Demand for FDA is growing across the board. Seventy-three per cent of respondents say that executive corporate management is the top beneficiary of FDA, followed by internal audit (69 per cent), and the board (68 per cent). C-suite respondents also indicate a greater sense of urgency around FDA adoption, with 74 per cent agreeing they need to do more to improve their anti-fraud procedures.
  • The FDA landscape is maturing. Focus on major FDA deployments is growing, with higher levels of spending on advanced tools and proactive surveillance monitoring of larger volumes of data. To get the most out of these tools, organizations are increasing their in-house capabilities and technology companies are introducing anti-fraud surveillance monitoring and insider threat product offerings. Despite improving maturity overall, many organizations lack an understanding of the value that FDA can deliver and few are fully realizing the potential of their FDA deployments.
  • Senior managers see the need for FDA to address key business risks but are proving reluctant to fund it partly because they are unaware of the broad range of value it can deliver. FDA success can be improved by articulating the business case for FDA to management, building teams with the right skills and deploying the appropriate technology.
  • Organizations receiving positive results from FDA have a number of elements in common. They are more likely to:
    • Use advanced technology. In almost every circumstance, companies using more sophisticated analytics report better fraud detection in less time.
    • Analyze more data. There is a positive correlation between the use of large data volumes and achieving positive results of FDA implementation. The same is relevant to data variety.
    • Invest more of their total compliance and anti-fraud spending in FDA.