The use of detective analytics for mitigating financial crimes: a South African perspective

Abstract

South African organisations are increasingly exploring the use of detective analytics in mitigating financial crimes. However, many organisations are struggling with how to employ the tool in detecting and preventing financial crimes. This study aimed to conceptualise how detective analytics can be used to mitigate financial crimes in organisations. Qualitative data were gathered from different sources, from peer-reviewed to grey literature. Actor-network theory (ANT) was employed as a lens, through its mantra ‘follow the actors’, to gain insights on how activities can be identified, traced, and tracked, in mitigating financial crime in institutions. The interpretive approach was applied. The findings revealed seamless integration of incidents, cybersecurity detection, in-house fraud detection, external infiltrate detection, and image-matching data into one cohesive system. The study highlights the need for gaining a deeper understanding of networks of actors, following the actors, and passage points within an organisation. The findings have significant implications for improving the efficiency and effectiveness of the use of detective analytics, from both technical and non-technical perspectives.