Discover and read the best of Twitter Threads about #Benford

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The Psychology of Human Misjudgement - Charlie Munger Full Speech via @YouTube
well, if one can get around the accounting and auditing systems, you can commit fraud on a massive scale.
That is what rogue traders do!
But, financial institutions have invested big time in hiring quants who can write codes and Greek symbols which board members don't comprehend
It's brilliant if your standard fraud risk assessor aka auditor and the quantitative risk manager can use the #Benford #Law to identify, proactively measure and control fraud risk-related predicate financial crimes.
But, first, do the basic work, before leapfrogging.
Read 22 tweets
šŸ§µDraadje over de wet van #Benford.

1/

Dit draadje gaat over de wet van Benford en hoe je met deze wetmatigheid kunt controleren of data zijn gemanipuleerd of een natuurlijke oorsprong hebben.
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Wikipedia deel 1: De wet van Benford beschrijft de frequentieverdeling van het begincijfer van getallen in grote dataverzamelingen waarin een beperkte mate van stochasticiteit optreedt.
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Wikipedia deel 2: De wet van Benford werd in 1881 ontdekt door de Amerikaanse wiskundige en astronoom Simon Newcomb, maar kreeg grote bekendheid door de herontdekking en publicaties in 1938 van Frank Benford
Read 15 tweets

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