CREDIT CARD TRANSACTIONS CONtinue to grow in number, taking an ever-larger share of the US payment system and leading to a higher rate of stolen account numbers and subsequent losses by banks. Improved fraud detection thus has become essential to maintain the viability of the US payment system. Banks have used early fraud warning systems for some years. Large-scale data-mining techniques can im...

Developing fraud management policies and fraud detection systems is a vital capability for financial institutions towards minimising the effect of fraud upon customer service delivery, bottom line financial losses and the adverse impact on the organisation’s brand image reputation. Rapidly changing attacks in real-time financial service platforms continue to demonstrate fraudster’s ability to a...

Health care has become a major expenditure in the US since 1980. Both the size of the health care sector and the enormous volume of money involved make it an attractive fraud target. Therefore, effective fraud detection is important for reducing the cost of health care services. In order to achieve more effective fraud detection, many researchers have attempted to develop sophisticated antifrau...

Despite significant efforts by merchants, card issuers and law enforcement to curb fraud, online fraud continues to plague electronic commerce web sites. More advanced solutions are desired to protect merchants from the constantly evolving problem caused by fraud. The supervised machine learning technique for the most well known fraud detection algorithms makes them inadequate for an online sys...

----------------------------------------------ABSTRACT-------------------------------------------In the faceless world of the Internet, online fraud is one of the greatest reasons of loss for web merchants. Advanced solutions are needed to protect e-businesses from the constant problems of fraud. Many popular fraud detection algorithms require supervised training, which needs human intervention...

Fraud in banks has been steadily growing over the past years and is a challenge to banks worldwide. The complexity involved in detection of such fraudulent activities further adds to the problem. A thorough examination of fraud and its possibilities is necessary to pinpoint and distinguish the few fraudulent cases within the vast volumes of banking data. In this paper we have discussed various ...

Substantial losses from credit card fraud are forcing retail industry executives to reevaluate the effectiveness of their ability to prevent this type of crime. In 1992, management at Tops Appliance City Inc. decided to reassess its own fraud prevention program in an attempt to prevent future losses. An analysis of the Tops' problem pointed out the need to differentiate legitimate from illegiti...

Fraud is an increasing phenomenon as shown in many surveys carried out by leading international consulting companies in the last years. Despite the evolution of electronic payments and hacking techniques there is still a strong human component in fraud schemes. Conflict of interest in particular is the main contributing factor to the success of internal fraud. In such cases anomaly detection to...

Online sponsored search has emerged as a dominant business model for majority of search engines and as a popular advertising mechanism for online retailers. However, sponsored search advertising is being negatively impacted by click fraud which involves the intentional clicking on sponsored links with the purpose of gaining undue monetary returns for the search engine or harming a particular ad...

In this paper we investigate the privacy dimension of collaborative fraud detection envisioned for outsourcing scenarios. Firstly, we investigate the privacy requirements derived from privacy law and present the resulting judicial argument for pseudonymizing audit data generated for the purpose of fraud detection. Second, we summarize the requirements for such pseudonymization derived from the ...