Digitizing County Finance: AI Fraud Detection and Compliance Pressure

A SAP Concur blog post, citing the 2022 ACFE Anti-Fraud Technology Benchmarking Report, says the use of AI and machine learning in anti-fraud programs is expected to more than double over the next two years. It notes state government agencies reported a median of $91,000 in fraud losses in 2020 and local government entities $75,000, and recommends county finance teams use data sources such as exception reporting, policy violations and predictive analytics to identify fraud risk.