Data Mining for Fraud Detection

Provided by: Creative Commons
Topic: Big Data
Format: PDF
Fraud detection is a topic applicable to many industries including banking and financial sectors, insurance, government agencies, telecommunication and law enforcement, and more. Fraud attempts have seen a drastic increase in recent years, making fraud detection is essential and more important than ever. Despite efforts on the part of the affected institutions, hundreds of millions of dollars are lost to fraud every year (leading to financial crisis and terrorism financing). Since relatively few cases show fraud in a large population, finding these can be tricky.

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