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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.

Fraud detection in eCommerce, finance, healthcare using machine learning

 

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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