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Machine Learning for Anomaly Detection – Insights and Risks

Sep 20, 2024 · 3 min read

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Issued by AICPA Forensic Accounting Technology & Analytics (FATA) Task Force

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Contributing Authors: Brian Koechner CPA, CFE, ABV, CAMS; Marie Monet, CPA, CITP, CGMA

In the News: Machine Learning for Anomaly Detection – Insights and Risks from AI Deployments in Banking and Beyond

Background:

Machine learning (ML) is increasingly utilized for anomaly detection in various sectors, such as finance, healthcare, cybersecurity, and lending. However, as illustrated by Thor Olavsrud in his CIO article "10 Famous AI Disasters,"¹

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