Financial innovations are a common explanation for the rise in credit card debt and bankruptcies. To evaluate this story, we develop a simple model that incorporates two key frictions: asymmetric information about borrowers’ risk of default and a fixed cost of developing each contract lenders offer. Innovations that ameliorate asymmetric information or reduce this fixed cost have large extensiv...

In recent years, topics such as fraud detection and fraud prevention have received a lot of attention on the research front, in particular from payment card issuers. The reason for this increase in research activity can be attributed to the huge annual financial losses incurred by card issuers due to fraudulent use of their card products. A successful strategy for dealing with fraud can quite l...

Fraud is increasing dramatically with the expansion of modern technology and the global superhighways of communication, resulting in the loss of billions of dollars worldwide each year. Although prevention technologies are the best way of reducing fraud, fraudsters are adaptive and, given time, will usually find ways to circumvent such measures. Methodologies for the detection of fraud are esse...

Today there are millions of credit card transactions are being processed and mining techniques are highly applied to amount transaction and processing then the data’s are highly skewed Mining such massive amounts of data requires highly efficient techniques that scaled that can be extend transactions are legitimate than fraudulent fraud detection systems were widely used but this document gives...

Available online 18 August 2010

Insurance fraud costs the property and casualty insurance industry over 25 billion dollars (USD) annually. This paper addresses workers' compensation claim fraud. A data mining approach is adopted, and issues of data preparation are discussed. The focus is on building predictive models to score an open claim for a propensity to be fraudulent. A key component to modeling is the use of textual da...

1.Introduction The activities of many criminal groups cross national boundaries and escape the control of governments and law enforcement agencies. As a result, they are as much part of domestic as of international politics. The problem of transnational crime in Southeast Asia is severe and consists primarily of drug trafficking, illegal migration, terrorism, money laundering, transnational pro...

In this paper we show that accurate HMMs for connected word recognition can be obtained without context dependent modeling and discriminative training. We train two HMMs for each word that have the same, standard, left to right topology with the possibility of skipping one state, but each model has a different number of states, automatically selected. The two models account for different speaki...