Fraud Detection in Fintech, Healthcare, and eCommerce

Back in December, we published a whitepaper covering machine learning approaches to fraud detection in fintech, healthcare, and eCommerce industries. This time, we’ll summarize the main fraud detection use cases, machine learning methods, and approaches in a single concise infographic. If you look for more detailed breakdown please refer to the original material.

Sources and further reading

An effective approach to preventing application fraud — http://www.experian.no/assets/fraud-analytics/Experian%20Fraud%20Analytics%20Overview.pdf

Best Practices for Detecting Banking Fraud — http://www.cbai.com/news/Best_Practices_for_Detecting_Fraud_white_paper.pdf

Comparative analysis of machine learning techniques for detecting insurance claim fraud — https://www.wipro.com/documents/comparative-analysis-of-machine-learning-techniques-for-detecting-insurance-claims-fraud.pdf

Demystifying Machine Learning for Banking — https://hollandfintech.com/wp-content/uploads/2017/03/Demistifying-Machine-Learning-for-Banking-Feedzai-Report-March-2017.pdf

Detecting Credit Card Fraud by Decision Trees and Support Vector Machines — http://www.iaeng.org/publication/IMECS2011/IMECS2011_pp442-447.pdf

ID Fraud Hits Record High — https://www.javelinstrategy.com/sites/default/files/17-1001J-2017-LL-Identity-Fraud-Hits-Record-Highs-Javelin.pdf

Mastercard Rolls Out Artificial Intelligence Across its Global Network — https://newsroom.mastercard.com/press-releases/mastercard-rolls-out-artificial-intelligence-across-its-global-network/

Next Generation Fraud Management Solutions for Banks and Capital Market Firms — https://www.capgemini.com/in-en/wp-content/uploads/sites/6/2017/07/next-generation_fraud_management_solutions_for_banks_and_capital_market_firms.pdf

Supervised Learning Use Cases: Low-Hanging Fruit in Data Science for Businesses — https://www.altexsoft.com/blog/business/supervised-learning-use-cases-low-hanging-fruit-in-data-science-for-businesses/

Synthetic Identity Fraud Cost Banks $6 Billion in 2016: Auriemma Consulting Group — http://markets.businessinsider.com/news/stocks/Synthetic-Identity-Fraud-Cost-Banks-6-Billion-in-2016-Auriemma-Consulting-Group-1002222563

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