Fraud Data Analytics Tools and Techniques in Big Data Era

Paper by Sara Makki et al: “Fraudulent activities (e.g., suspicious credit card transaction, financial reporting fraud, and money laundering) are critical concerns to various entities including bank, insurance companies, and public service organizations. Typically, these activities lead to detrimental effects on the victims such as a financial loss. Over the years, fraud analysis techniques underwent a rigorous development. However, lately, the advent of Big data led to vigorous advancement of these techniques since Big Data resulted in extensive opportunities to combat financial frauds. Given that the massive amount of data that investigators need to sift through, massive volumes of data integrated from multiple heterogeneous sources (e.g., social media, blogs) to find fraudulent patterns is emerging as a feasible approach….(More)”.