the letter of credit as a method of smoothing international payment is a conditional security and obligation to pay the customer bank (issuing bank) to seller (applicant). for this purpose, the letters of credit may be considered as the most usual method of payment of goods price in international trade. the classic form of letters of credit is the commercial letters of credit whose financial ob...

Credit card fraud costs consumers and the financial industry billions of dollars annually. However, there is a dearth of published literature on credit card fraud detection. In this study we employed transaction aggregation strategy to detect credit card fraud. We aggregated transactions to capture consumer buying behavior prior to each transaction and used these aggregations for model estimati...

Transaction costs in financial intermediation are a measure of the 'friction' existing in the functioning of financial markets. The higher the costs of intermediation, the less efficient the performance of the financial sector in resource allocation and distribution. Transaction costs frequently increase as a result of regulations imposed on financial markets, such as interest-rate restrictions...

We consider a model of credit network introduced in [1], and extend the analysis to account for properties empirically observed in real credit network, notably degree-preference transaction regime, risk-averse and external shocks. Trade-off between transaction path length and capacity of path is also studied. It is shown that credit network does not need to be very dense to obtain high liquidit...

E-commerce transactions have a rapid development because of its convenience and flexibility. However, compared to the traditional market, the e-commerce transaction still could not get rid of information asymmetry between the online sellers and online buyers. Adverse selection problems brought by information asymmetry have negative impact on e-marketing and reduce the efficiency of the online t...

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 modern retail market environment, electronic commerce has rapidly gained a lot of attention and also provides instantaneous transactions. In electronic commerce, credit card has become the most important means of payment due to fast development in information technology around the world. As the usage of credit card increases in the last decade, rate of fraudulent practices is also increasing...

Fraud is an unauthorized activity taking place in electronic payments systems, but these are treated as illegal activities. Fraud detection methods are continuously developed to defend criminals in adapting to their strategies. Fraud can be identified quickly and easily through fraud detection techniques. In this paper, clustering approach is used for credit card fraud detection. Data is genera...