Are data-sharing consortiums the future of anti-fraud?

More organizations are collaborating with data-sharing consortiums to safely exchange fraud risk profile information that could improve their internal prevention and detection activities. Here’s an interview with Matt Galvin, global VP of ethics and compliance at Anheuser-Busch (AB) InBev, who discusses how cross-company collaboration might affect the anti-fraud profession.

In 2019, the ACFE and SAS Institute released the Anti-Fraud Technology Benchmarking Report, derived from the answers to a 19-question survey sent to 41,181 randomly selected ACFE members. More than 1,000 responded. One question that caught my attention was, “Are organizations contributing to data-sharing consortiums to help prevent or detect fraud?” I was surprised to learn that more than a quarter of the respondents (29%) do contribute to some form of data-sharing consortium that feeds particular data into an aggregated database that all member organizations can access.