Survey of Fraud Spotting Techniques
Abstract
Fraud spotting is a topic applicable to many industries including banking and financial sectors, insurance, government agencies and lawn for cement and more Through the use of sophisticated data mining tools, millions of transactions can be searched to spot patterns and detect fraudulent transactions. Spotting fraud involves monitoring the behavior of users ' populations to estimate, detect or prevent unwanted behavior. Undesirable behavior is a broad term including violence, theft invasion, and defaulting accounts. This paper provides an overview of current techniques used in spotting credit card fraud, spotting telecommunications fraud, and spotting computer intrusion. The purpose of this paper is to provide an in-depth review of various techniques for detecting fraud...