The application of data mining techniques in financial fraud detection: A classification framework and an academic review of literature

@article{Ngai2011TheAO,
  title={The application of data mining techniques in financial fraud detection: A classification framework and an academic review of literature},
  author={Eric W. T. Ngai and Yong Hu and Y. H. Wong and Yijun Chen and Xin Sun},
  journal={Decis. Support Syst.},
  year={2011},
  volume={50},
  pages={559-569}
}

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References

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Fraud Classification Using Principal Component Analysis of Ridits
TLDR
With this technique, principal component analysis of RIDIT scores (PRIDIT), an insurance fraud detector can reduce uncertainty and increase the chances of targeting the appropriate claims so that an organization will be more likely to allocate investigative resources efficiently to uncover insurance fraud.
Data Mining techniques for the detection of fraudulent financial statements
Forecasting Fraudulent Financial Statements using Data Mining
TLDR
This study indicates that the investigation of financial information can be used in the identification of FFS and underline the importance of financial ratios.
A Review of Data Mining-Based Financial Fraud Detection Research
TLDR
An extensive review on literatures is conducted and a generic framework to guide the analysis is presented to help answer questions about how to detect financial statement frauds.
Distributed data mining in credit card fraud detection
TLDR
The proposed methods of combining multiple learned fraud detectors under a "cost model" are general and demonstrably useful; the empirical results demonstrate that they can significantly reduce loss due to fraud through distributed data mining of fraud models.
A Comprehensive Survey of Data Mining-based Fraud Detection Research
Neural network detection of management fraud using published financial data
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This paper uses Artificial Neural Networks to develop a model for detecting management fraud and uses a self organizing Artificial Neural Network (ANN) AutoNet in conjunction with standard statistical tools to investigate the usefulness of publicly available predictors of fraudulent financial statements.
Assessing the risk of management fraud through neural network technology
Key Words: Analytical auditing, Management fraud, Neural networks. Data Availability: A list of the public companies used to develop the matched fraud and nonfraud sample is available from the
Credit card fraud detection with a neural-network
  • Sushmito Ghosh, D. Reilly
  • Computer Science
    1994 Proceedings of the Twenty-Seventh Hawaii International Conference on System Sciences
  • 1994
Using data from a credit card issuer, a neural network based fraud detection system was trained on a large sample of labelled credit card account transactions and tested on a holdout data set that
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