The growth of e-commerce increases the money transaction via electronic networks day by day which is designed for hassle free, fast & easy money transaction. But the facility involves greater risk of misuse of facility for fraud; one of them is credit card fraud. It can happen by many ways such as by stolen card, by Internet hackers who can hack your system & get important information about you...

Due to the popularity of online auction markets, auction fraud has become common. Typically, fraudsters will create many accounts and then transact among these accounts to get a higher rating score. This is easy to do because of the anonymity and low fees of the online auction platform. A literature review revealed that previous studies focused on detection of abnormal rating behaviors but did ...

This paper describes a service architecture for a financial market monitoring and surveillance system in which different components interact in coordination with internal and external service providers to produce proactive alarms for potential fraud cases. The proposed service system is demonstrated through an exemplar case study of text mining and data mining to analyze the impact of ‘stock-to...

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 and abuse in the spending of public monies plague governments around the world. In the United States the False Claims Act encourages whistleblowing by private individuals to expose evidence of fraud. They are rewarded for their efforts with monetary compensation and protection from retaliation. Such is not the case in Canada, England, and Australia. Although some recent legislation has in...

Article history: Received 5 October 2006 Received in revised form 4 May 2008 Accepted 25 May 2008 Available online 16 July 2008 Fraud risk is higher than ever before. Unfortunately, many auditors lack the expertise to deal with the related risks. The objectives of this research are to develop an innovative fraud detection mechanism on the basis of Zipf's Law. The purpose of this technique is to...

Liquid assets play an important role in the financial system. They are generally defined as financial assets, such as cash and government securities, that can be readily used to fund payments, even in stressed market conditions. These assets are central to liquidity and credit risk management in financial markets. They are commonly used as collateral to obtain short-term funding and manage coun...