Academic Press, New York, (Chapter 2K) pp. 233-245.
ISSN/ISBN: Not available at this time. DOI: 10.1016/B978-0-12-804494-0.00017-6
Abstract: Since the seminal work published by Nigirni in 1992 Benford’s law has been employed as a forensic accounting tool that is currently used as evidence in many courts. The application to cases of fraud on financial markets is still new, but successful applications have been illustrated, in particular in the case of the LIBOR manipulation. The field of application for Benford’s law in the financial markets is growing as many data sets can be the target of manipulation or misrepresentation. Therefore, the test assessing conformity with Benford’s law can emphasize fictitious figures resulting from manual handling of data in areas like fund performance metrics, benchmarks, and index values or prices of niche commodity markets.
Bibtex:
@inbook{,
editor = "Marius-Christian Frunza",
title = "Solving Modern Crime in Financial Markets",
publisher = "Academic Press",
pages = "233--245",
year = "2016",
chapter = "Chapter 2K: Benford's Law",
isbn = "978-0-12-804494-0",
doi = "https://doi.org/10.1016/B978-0-12-804494-0.00017-6",
url = "http://www.sciencedirect.com/science/article/pii/B9780128044940000176",
author = "Marius-Christian Frunza",
}
Reference Type: Book
Subject Area(s): Accounting, Economics