A graph database and graph analytics, provided by TigerGraph and implemented by the ATO with support from Intech, will help the ATO detect intricate and multi-layered relationships between individuals and organizations, supporting the ATO’s efforts to reduce tax avoidance.
An increasing number of organizations are turning to graph databases as demand for high performance analytics and deeper understanding of connected financial networks grow. Gartner predicts that by 2025, graph technologies will be used in 80% of data and analytics innovations, up from 10% in 2021.
“We’re delighted to have the opportunity to support the ATO’s efforts to tackle tax avoidance and tax fraud. The role of Intech, one of our key partners, was significant from the beginning,” said Joseph Lee, TigerGraph’s Vice President of Sales for Asia-Pacifc and Japan. “Graph is ideally suited to detecting fraud, money laundering, and trading irregularities, and we’re excited about further opportunities to collaborate with our partners on fighting financial crimes.”
Terry Goodman, Intech Solutions’s Founder, said: “TigerGraph was a natural fit for us due to the speed and scalability of the software and the technical know-how of the team. TigerGraph enables network connections to be uncovered and investigated in real-time, using multi-dimensional queries. This aligns perfectly with Intech’s deep understanding of the complexities facing government agencies and our extensive experience working across a broad array of use cases.”
The deployment, which is currently underway, will support high volumes of data – which includes billions of nodes and edges.