Ideation Phase

Define the Problem Statements

Date 06 May 2023

Team ID PLT-NT-GP-18066-1683692142

Project Name Audit AI: A Machine Learning For Detecting

Fraud In Audit Data

Maximum Marks 2 Marks

Customer Problem Statement :

ABC Company is facing a problem with detecting fraud in their audit data, resulting in
financial losses and reputational damage. The current manual audit methods are time-
consuming and unable to effectively identify sophisticated fraud schemes, leading to missed
fraudulent activities. We need a solution that leverages advanced machine learning
algorithms and real-time monitoring capabilities to detect fraud patterns accurately and
provide timely alerts. This will enable us to proactively mitigate fraud risks, protect our
financial resources, and preserve our organizational integrity

Example:

Problem I am I’m trying to But Because Which makes me feel

Statement (PS) (Customer)
PS-1 ABC Open a e- financial detecting mitigate fraud risks
Company commerce losses fraud in their
Owner website and audit data
reputatio
nal
damage

PS-2 XYZ Bank Open a Bank leading to detecting Disappointed

significan fraudulent
t financial credit card
losses transactions
and in real-time
comprom
ised
customer
trust