This paper presents a review of the literature on the application of data mining techniques for the detection of insurance fraud. Academic literature were analyzed and classified into three types of insurance fraud (automobile insurance, crop insurance and healthcare insurance) and six classes of data mining techniques (classification, regression, clustering, prediction, outlier detection, and ...

— With the developments in the Information Technology and improvements in the communication channels, fraud is spreading all over the world, resulting in huge financial losses. Though fraud prevention mechanisms such as CHIP&PIN are developed, these mechanisms do not prevent the most common fraud types such as fraudulent credit card usages over virtual POS terminals or mail orders. As a result,...

both academic and auditing firms have been searching for ways to detect corporate fraud. The main objective of this study was to present a model to detect financial reporting fraud by companies listed on Tehran Stock Exchange (TSE) using genetic algorithm. For this purpose, consistent with theoretical foundations, 21 variables were selected to predict fraud in financial reporting that finally, ...

A case study on the theoretical and practical value of using process mining for the detection of fraudulent behavior in the procurement process Abstract This thesis presents the results of a six month research period on process mining and fraud detection. This thesis aimed to answer the research question as to how process mining can be utilized in fraud detection and what the benefits of using ...

In this paper we investigate the privacy dimension of collaborative fraud detection envisioned for outsourcing scenarios. Firstly, we investigate the privacy requirements derived from privacy law and present the resulting judicial argument for pseudonymizing audit data generated for the purpose of fraud detection. Second, we summarize the requirements for such pseudonymization derived from the ...

The European iWebCare project (FP6-2004-IST-4-028055) aims at designing and developing a flexible fraud detection web services platform, which will be able to serve e-government processes of fraud detection and prevention, in order to ensure quality and accuracy and minimize loss of health care funds. This paper discusses the approach this project adopts and which involves the introduction of a...

In today’s technological age, fraud has become more complicated, and increasingly more difficult to detect, especially when it is collusive in nature. Different fraud surveys showed that the median loss from collusive fraud is much greater than fraud perpetrated by a single person. Despite its prevalence and potentially devastating effects, collusion is commonly overlooked as an organizational ...

62 Abstract— With an increase in financial accounting fraud in the current economic scenario experienced, financial accounting fraud detection has become an emerging topics of great importance for academics, research and industries. Financial fraud is a deliberate act that is contrary to law, rule or policy with intent to obtain unauthorized financial benefit and intentional misstatements or om...

Credit card plays a very important rule in today's economy. It becomes an unavoidable part of household, business and global activities. Although using credit cards provides enormous benefits when used carefully and responsibly,significant credit and financial damagesmay be causedby fraudulent activities. Many techniques have been proposed to confront thegrowthin credit card fraud. However, all...

Due to the rise of technology, the possibility of fraud in different areas such as banking has been increased. Credit card fraud is a crucial problem in banking and its danger is over increasing. This paper proposes an advanced data mining method, considering both feature selection and decision cost for accuracy enhancement of credit card fraud detection. After selecting the best and most effec...