Prevent economic frauds using AI

Today I ended up watching below two videos, which made me think how can this and such scenarios be prevented.

https://youtu.be/YcBxxzuYIDs & https://youtu.be/3wBrHxm2Cdw

While, easily one could get diverted and make it a political discussion, but I want to (request to) focus on the real problems here.

1. Till the time human being is involved in approval processes the insider challenge will remain
2. The delay in action is there as it involves human being in the process
3. There will always be suspicion of hand in glove even if there is none

Artificial Intelligence could be the saviour here.

There is an immense amount of data available in such scenarios, data from bank accounts, company data, taxation data and much more. Institutes like RBI, SEBI and more have access to such data. Can there be a system in place to look through all this data and detect the anomalies. Surely the concept of "you own your own data" is important along with other security aspects. Such system when created and used will prevent the frauds like the ones mentioned in the video and many more. There could be false alarms detected, but it is better than missing the actuals.

It would be humanly impossible to process, correlate and infer the possibility of fraud in timely manner to prevent it. While, a machine driven system may not act alone but can surely assist the approvers and present the identified insights from this data. Which would not only help the people with right intentions but would also deter those insiders.

Being an optimistic person, may be some Indian profit making organisation will do it for a social cause for our own country. I am ready to contribute in whatever way I can.