By Tyson Mickelsen, Marketing —
Abby Lee Miller, the coach from the TV show, Dance Moms, filed for bankruptcy in 2016. However, bankruptcy was just the beginning. The Dance Mom was later charged with fraud and then sentenced to one year in prison. She hid $775,000 of income and did not report $120,000 brought in from Australia (See Variety).
Honestly, Miller is not the only one committing fraud. It is estimated that the typical organization loses 5 percent of revenues annually to fraud. This translates to a potential projected global fraud loss of nearly US$3.7 trillion. Amazingly, 22 percent of fraud cases involve losses of at least US$1 million.
The Need for Fraud Detection
Clearly, fraud is a major issue and needs to be detected. Miller’s fraudulent behavior began as early as 2012. This begs the question: could she have been caught sooner? And as a whole, how can fraud be detected?
Typically, people think of the polygraph as the main way to detect if someone is lying. Nevertheless, polygraph tests require specialized equipment—sensors to measure heart rate, blood pressure, and even perspiration. Also, tests often take more than 2 hours to complete. Obviously, a polygraph test is not realistic for everyone filing their taxes or applying for a loan at the bank for instance.
Finding the Truth
EyeDetect is a new lie detection technology solution that accurately measures changes in eye behavior. The eye sensor tracks pupil dilation, fixations, eye movements, and blinks. The eyes don’t lie—especially with results of 86 percent accuracy.
Additionally, EyeDetect is easily scalable since tests last 30 minutes and results are delivered in 5 minutes. Maybe everyone does not need to take a lie detector test for their taxes or while at the bank, but EyeDetect can be used to quickly assess the credibility of higher risk candidates.
Abby Lee Miller was on trial for over year. Her case could have been drastically shortened (or may have been prevented) with EyeDetect.
Anyone is capable of fraud—even a dance mom. Learn how you can use EyeDetect in your organization.
Photo courtesy of Hudson Hintze