This study investigates the process of perpetration and concealment of management fraud in financial statements. First, we argue that fraud schemes consist of two components: “account schemes” and “evidence schemes.” Account schemes are the schemes through which management perpetrates fraud by manipulating account balances or disclosures. Evidence schemes are the schemes through which managemen...

The need for technology has always found space in Financial Transaction as the number of fraud financial transactions increases day by day. In this research we have proposed a new methodology using isolation forest algorithm and local outlier detection to detect fraud. A standard data set is used experimentation classify transaction occurred fraudulent or not. We neural networks machine learnin...

Financial fraud, considered as deceptive tactics for gaining financial benefits, has recently become a widespread menace in companies and organizations. Conventional techniques such manual verifications inspections are imprecise, costly, time consuming identifying fraudulent activities. With the advent of artificial intelligence, machine-learning-based approaches can be used intelligently to de...

As technology advances, fraud is becoming increasingly complicated and difficult to detect, especially when individuals collude. Surveys show that the median loss from collusive fraud is much greater than fraud perpetrated by individuals. Despite its prevalence and potentially devastating effects, internal auditors often fail to consider collusion in their fraud assessment and detection efforts...

Using data from a credit card issuer, a neural network based fraud detection system was trained on a large sample of labelled credit card account transactions and tested on a holdout data set that consisted of all account activity over a subsequent two-month period of time. The neural network was trained on examples of fraud due to lost cards, stolen cards, application fraud, counterfeit fraud,...

The total losses through online banking in the United Kingdom have increased because fraudulent techniques progressed and used advanced technology. Using history transaction data is limit for discovering various patterns of fraudsters. Autoencoder has a high possibility to discover action without considering unbalanced fraud class data. Although autoencoder model uses only majority data, our hy...

Financial fraud is a societal problem for adults of all ages, but financial losses are especially damaging to older adults who typically live on fixed incomes and have less time to recoup losses. Persuasion tactics used by fraud perpetrators often elicit high levels of emotional arousal; thus, studying emotional arousal may help to identify the conditions under which individuals are particularl...

Contemporary research among fraud professionals indicates that organizations lose 5% of revenues from every year which makes the in this area and derivation detection models very important. The purpose article is to develop a new accounting tool will help companies investors prompt prevention can finally result preservation financial stability as well more efficient capital allocation. In conte...

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...