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Catching the Banksters: The Use of Big Data Analytics in Billion Dollar Regulatory Investigations

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Item Summary Daniel, Gozman Wendy, Currie Jonathan, Seddon 2017-12-28T02:05:50Z 2017-12-28T02:05:50Z 2018-01-03
dc.identifier.isbn 978-0-9981331-1-9
dc.description.abstract Following the financial crisis, emboldened regulators have increased the magnitude of fines levied for financial malfeasance. The automation of the data discovery process underpins the rise in internal investigations, which financial organizations are obliged to conduct on the behest of regulators, keen to reduce information asymmetries and bolster transparency. Yet little research exists into the technologies which underpin post-crisis regulatory agendas. Our study focuses on big data technologies (eDiscovery tools) which facilitate investigations, where rare yet serious breaches have occurred. We focus on the micro/data level (volume, veracity, variety and velocity) to understand how these tools are influencing regulatory outcomes. The findings illustrate the need for financial organizations to adopt robust information governance policies to ease future investigatory efforts. We identify various practices which may help compliance managers better respond to regulatory investigations faster and more easily to ease the burden of post-crisis regulation.
dc.format.extent 10 pages
dc.language.iso eng
dc.relation.ispartof Proceedings of the 51st Hawaii International Conference on System Sciences
dc.rights Attribution-NonCommercial-NoDerivatives 4.0 International
dc.subject Data Analytics Management, Governance, and Compliance
dc.subject Big Data, Regtech, Fintech, eDiscovey, LIBOR
dc.title Catching the Banksters: The Use of Big Data Analytics in Billion Dollar Regulatory Investigations
dc.type Conference Paper
dc.type.dcmi Text
dc.identifier.doi 10.24251/HICSS.2018.570
Appears in Collections: Data Analytics Management, Governance, and Compliance

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