AI Programs Catch Employee Fraud

Apr 3, 2019, 11:49 AM

(from Insurance Journal) Employers are using artificial-intelligence programs to closely scan employee expense reports, part of an effort to stem the more than $7 billion in losses companies experience from fraud each year, according to the Association of Certified Fraud Examiners. The programs' robots are said to catch fraud twice as quickly as human administrators who must manually sort through paper receipts. Atlanta-based Oversight Systems audits about $2 trillion worth of employee spending each year, flagging abuses ranging from reused parking receipts to questionable expenses.

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