Big data relates to the exponential growth in the amount of data being generated by individuals and organisations – something that has been aided by social media, smart devices and the internet.
Data is now an extremely valuable asset, but also one that carries risk. So, you might ask, what does this have to do with forensic accounting?
With data now at the heart of almost every business, there are a great number of cases that involve computer-based information. This information can often be hard to find or understand – that is why Frenkels Forensics offer specialist computer forensics services.
To illustrate with an example: a client could stand accused of fraud because their accounts (hosted on a computer) don’t add up. As such, their defence lies locked away in a hard drive. However in the age of big data there is a trail of evidence left behind by every computer system.
Due to the rise in cyber-crime, this has resulted in more sophisticated encryption to ensure data remains safe from the prying eyes of hackers. Unfortunately, this encrypted data can become an issue when there is an investigation into fraudulent digital accounts – using advanced software and decoding techniques, our computer forensics specialists can work to negate the encryption and uncover the truth that lies within the data.
By being able to access and analyse the data, Frenkels Forensics can put forward a defence for a client that has been accused of fraud, perhaps demonstrating that monies the criminal is accused of stealing have come from genuine sources or have been duplicated in the prosecution’s calculations.
In a modern world where so much of business is reliant on computers, there is an increasing need for a technological approach to forensic accounting. With big data dominating the IT landscape, computer forensics services can be the key to determining the innocence or guilt of an individual or organisation.
For help in a case involving digital records or computer forensics contact Frenkels Forensics for an expert and independent appraisal.
Alternatively, if you’re looking for advice in any aspect of forensic accountancy, then do get in touch via Twitter, Google+, LinkedIn or by visiting our website www.frenkels.com
By Vitek Frenkel – find me via Google+.