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Using Computers to Catch Corporate Fraud | |
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||
| Time: 10:04 EST/15:04 GMT | News Source: Reuters | Posted By: Robert Stein | ||
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FRX, an accounting software company for small and medium-sized businesses owned by Microsoft Corp. MSFT.O , builds software that allows companies to identify anomalies between budgets and actual results, and allow executives to peruse individual transactions that may be the culprit. Software has also been used successfully by credit card and insurance companies to catch fraudulent transactions. But skeptics say no technology can catch a corrupt CFO, or identify sham deals in a firm that hasn't implemented basic safeguards. | ||
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