In recent years, due to the expansion of financial institutions,as well as the popularity of the World Wide Weband e-commerce, a significant increase in the volume offinancial transactions observed. In addition to the increasein turnover, a huge increase in the number of fraud by user’sabnormality is resulting in billions of dollars in lossesover the world. T...

This paper discusses the status of research on detection of fraud undertaken as part of the European Commission-funded ACTS ASPeCT (Advanced Security for Personal Communications Technologies) project. A first task has been the identification of possible fraud scenarios and of typical fraud indicators which can be mapped to data in Toll Tickets. Currently, the project is exploring the detection ...

Loan fraud is a critical factor in the insolvency of financial institutions, so companies make an effort to reduce the loss from fraud by building a model for proactive fraud prediction. However, there are still two critical problems to be resolved for the fraud detection: (1) the lack of cost sensitivity between type I error and type II error in most prediction models, and (2) highly skewed di...

Credit card usage has been increased tremendously because of the popularity of E-commerce. As the usage of credit card grows the occurrence of fraudulent transactions also increases, thus comes the stipulation of fraud detection. Detection of fraudulent transaction using credit card plays a vital role in financial institutions. In the proposed work, fraud detection is done with data mining appr...

In this paper we describe the results achieved using the JAM distributed data mining system for the real world problem of fraud detection in financial information systems. For this domain we provide clear evidence that state-of-the-art commercial fraud detection systems can be substantially improved in stopping losses due to fraud by combining multiple models of fraudulent transaction shared am...

Fraud is a multi-billion dollar industry that continues to grow annually. Many organizations are poorly prepared to prevent and detect fraud. Fraud detection strategies are intended to quickly and efficiently identify fraudulent activities that circumvent preventative measures. In this paper, we adopt a DesignScience methodological framework to develop a model for detection of vendor fraud base...

Identity fraud is the great matter of concern in the field of the e-commerce. Identity Fraud is more than a security issue it is a financial burden as in transaction and application domain the culprit can make serious problems for the victims as they can be affected with unethical activity by using victims’ private information for the economic gain. Application fraud is one of the prominent exa...

This paper describes an approach to fraud detection targeted at applications where this task is followed by a posterior human analysis of the signaled frauds. This is a frequent setup on fraud detection applications (e.g. credit card misuse, telecom fraud, etc.). In real world applications this human inspection is usually constrained by limited resources. In this context, standard fraud detecti...

Phishing attack is used to steal confidential information of user. Fraud websites appear similar to genuine websites with the logo and graphics of trusted website. Fraud Website Detection application aims to detect fraud websites using data mining techniques. This project provides intelligent solution to phishing attack. W3C standard defines characteristics which can be used to distinguish frau...