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What is Fraud Detection

Chapter 8
Applications of Machine Learning and Deep Learning for Privacy and Cybersecurity
Procedures engaged with the aim to prevent money or proposer from being obtained through pretenses.
Published in Chapter:
Detecting Bank Financial Fraud in South Africa Using a Logistic Model Tree
Katleho Makatjane (Department of Statistics, University of Botswana, Botswana) and Ntebogang Dinah Moroke (North West University, South Africa)
Copyright: © 2022 |Pages: 27
DOI: 10.4018/978-1-7998-9430-8.ch008
Abstract
Artificial intelligence is gradually becoming the standard mechanism underpinning online banking. Users' profiles can be confirmed using a variety of methods, including passcodes, fingerprints, acoustics, and images through this technology. On the other hand, traditional cybersecurity measures are unable to prevent internet-based fraud after the visualisation process has been infiltrated. In light of this, the aim of this chapter is to examine the efficiency of the logistic model tree (LMT) in detecting financial fraudulent transactions in South African banks and, ultimately, to develop a financial fraud early warning system. Web-scraping credit and debit card fraud data from SA are used to acquire daily data. The LMT is constructed utilizing a training set from the LogitBoost algorithm and obtained 17 financial conditioning elements. Overall, an early warning system model has shown to be a good performer with a prediction rate of 99.9%. This appears to be a promising approach for detecting online fraud vulnerabilities.
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Chapter 58
On-Line Credit Card Transaction Processing and Fraud Prevention for E-Business
The electronic and physical monitoring activities and algorithms utilized to classify whether the use of a credit card is legal or fraudulent.
Published in Chapter: On-Line Credit Card Transaction Processing and Fraud Prevention for E-Business; From: Encyclopedia of E-Commerce Development, Implementation, and Management
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Chapter 11
Role of Data Science and Data Analytics in Forensic Accounting and Fraud Detection
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Chapter 114
Financial Analytics With Big Data
A set of processes and analyses that allow businesses to identify and prevent unauthorized financial activity.
Published in Chapter: Financial Analytics With Big Data; From: Encyclopedia of Data Science and Machine Learning
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Chapter 79
Data Mining for Fraud Detection
An automatic system based on description of user behavior and fraud scenario, in order to detect a fraudulent activity as soon as possible to reduce loss.
Published in Chapter: Data Mining for Fraud Detection; From: Encyclopedia of Organizational Knowledge, Administration, and Technology
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