Dr. Mark Lokanan, a professor at Royal Roads University, is leading a research team using advanced artificial intelligence (AI) models to detect financial fraud. By recognizing patterns and anomalies within vast data sets, these AI-driven tools help organizations identify abnormal transactions for further investigation by forensic experts.
Lokanan’s team has successfully tested their models on financial-statement and supply-chain fraud data, achieving high accuracy rates. This innovative research has broad applications beyond financial crime, with potential uses in various domains, including employee retention and temporary worker fraud detection.