The Best Fraud Examination tool after Professional Experience and Intuition!

The Red Flag Fraud Examination tool is a "simple to use" graphical user interface tool developed to provide a fast clear picture of financial data analytics.

Designed by a fraud examiner for fraud examiners, the current version(3.1.1) will quickly analyze large data files for duplicate numerical entries. It will list the number of occurances of every digit that appears more than twice in the data set. It is sortable by either quantity or actual number.

Benford's Law can be applied to the first three digits of every numerical record. It will separately analyze the positive and negative numbers. It allows you to save the Benford's graph as an image file for future reference, rather than having to re-run the tool on your data. This also makes it easy to add as an exhibit to the examination file when applicable.

The Statistical Tool Box will calculate the Total Subject Count, Range, Mean, Median, Mode, Standard Deviation, Odd and Even Count and Percentages as well as the quantity of records in each Order of Magnitude. The Excel Tool will assist in calculating a Correlation Coefficient between datasets and allow you to browse most Excel files right in the console.

Benfords Law

Benford’s Law analyzes the digits in numerical data to identify anomalies and detect systematic manipulation of data (the making up of false numbers) based on the digital distribution in a natural population.

Benford's Law is based on the Logarithm of digit distribution and the digital distribution is not evenly distributed. Let's take a look with some short video demonstrations.