SEC enlists tech for probes
AI, big data speed up fraud detection
The Securities and Exchange Commission (SEC) plans to use artificial intelligence (AI) and big data analytics to investigate false accounting information next year, following the implementation of robotic process automation (RPA) technology to detect fraudulent accounting records.
SEC assistant secretary-general Thawatchai Kiatkwankul said the commission has adopted RPA technology since mid-2019 to help scrutinise auditor’s reports and identify conditional company financial statements on behalf of the SEC staff, with an aim to increase the efficiency of accounting supervision.
This is in line with the SEC’s policy and operational direction driving the organisation towards digitalisation.
He said RPA is a simple…
