An Introduction to Benford’s Law, Berger & Hill 2015, Princeton, Fraud Detection

An Introduction to Benford’s Law, Berger & Hill 2015, Princeton, Fraud Detection

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Benford’s Law is a mathematical principle that states that in many sets of numerical data, the frequency of occurrence of the first digit is not evenly distributed. Instead, numbers are more likely to start with a lower digit, such as 1, than with a higher digit, such as 9. This counterintuitive pattern has been used in various fields, including fraud detection.

In their 2015 book “An Introduction to Benford’s Law,” authors Berger and Hill explore the applications of this law in detecting fraudulent activities. By analyzing financial data, they demonstrate how deviations from Benford’s Law can indicate potential fraud or manipulation. For example, if a company’s financial statements show an unusually high frequency of numbers starting with a certain digit, it may raise suspicions of fraudulent reporting.

Princeton University Press published this comprehensive guide to Benford’s Law, providing readers with the tools and techniques to apply this mathematical concept in real-world scenarios. By understanding the principles behind this law, individuals and organizations can enhance their fraud detection capabilities and safeguard against financial misconduct.
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