A Survey on Financial Fraud Detection Methodologies

Owing to levitate and rapid escalation of E-Commerce, cases of financial fraud allied with it are also intensifying and which results in trouncing of billions of dollars worldwide each year. Fraud detection involves scrutinizing the behavior of populations of users in order to ballpark figure, detec...

Full description

Saved in:
Bibliographic Details
Published in:International journal of computer applications 2012-01, Vol.45 (22)
Main Authors: Richhariya, Pankaj, Singh, Prashant K
Format: Article
Language:English
Subjects:
Classification
Fraud
Internet
Intrusion
On-line systems
Online
Populations
Telecommunications
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Owing to levitate and rapid escalation of E-Commerce, cases of financial fraud allied with it are also intensifying and which results in trouncing of billions of dollars worldwide each year. Fraud detection involves scrutinizing the behavior of populations of users in order to ballpark figure, detect, or steer clear of objectionable behavior: Undesirable behavior is a extensive term including delinquency: swindle, infringement, and account evasion. Factually, swindle transactions are speckled with genuine transactions and simple pattern matching techniques are not often sufficient to detect those frauds accurately. In this survey we, will focuses on classifying fraudulent behaviors, identifying the major sources and characteristics of the data based on which fraud detection has been conducted. This paper provide a comprehensive survey and review of different techniques to detect the financial fraud detection used in various fraud like credit card fraud detection, online auction fraud, telecommunication fraud detection, and computer intrusion detection.
ISSN:0975-8887
0975-8887
DOI:10.5120/7080-9373