Corpus ID: 15263884

Fraud Detection in Online Banking Using HMM

  title={Fraud Detection in Online Banking Using HMM},
  author={S. Mhamane and L. Lobo}
As online banking becomes the most popular mode of payment for both online as well as internet based Transaction, cases of fraud associated with it are also rising. In this paper We model the sequence of operations in internet banking transaction processing using a Hidden Markov Model (HMM) and showing how it can be used for the detection of frauds. If an incoming online banking transaction is not accepted by the trained HMM with sufficiently high probability, it is considered to be fraudulent… Expand

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