Are you struggling to keep up with the ever-changing compliance programs in your business? Look no further than the award-winning Data Driven Compliance podcast, hosted by Tom Fox, is a podcast featuring an in-depth conversation around the uses of data and data analytics in compliance programs.
Data Driven Compliance is back with another exciting episode featuring the insightful Vince Walden from KonaAI. In this episode, Walden and host Tom Fox discuss how data analytics can help uncover potential FCPA enforcement actions, using the Philips case as an example. They delve into the benefits of internal controls and the segregation of duties to prevent bribery and corruption. Walden goes on to examine the customer 360 model, which focuses on analyzing customer orders to pinpoint risky transactions and potential improper payments. Additionally, they explore Kona AI’s platform, which utilizes advanced algorithms to pick up problems and highlight high-risk transactions.
The podcast also features a discussion on the use of artificial intelligence and how machine learning can help compliance professionals identify anomalies that require investigation. You won’t want to miss the exciting upcoming episode where Walden showcases real-world examples of how companies can use machine learning in 2023. Tune in to Data Driven Compliance and stay ahead of the curve in the compliance world!
Key Highlights
· Data analytics for FCPA compliance detection
· Kona AI’s Customer Analytics and Risk Assessment
· Improper Vendor Payments Tracking
· The importance of second level reviews in internal control
· Analytics and Investigating Fraud Potential
· Improving Precision in Machine Learning Models
KEY QUOTES
“Just those basic type of analytics could have been easily spotted these issues.”
“These are the types of things that when you could just sort, you would be able to find those high risk transactions.”
“Nowadays the technology is there to spot these types of activities when compliance has access to the data.”
“Let’s see if this event took place. And he just did a simple Google search on the Internet couldn’t find the event.”
Resources:
Vince Walden on LinkedIn
Tom Fox
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