Posts Tagged

Fraud

Artificial IntelligenceMachine Learning

Machine-learning is all the rage in fraud detection, with industry analysts, academics, businesses and technology media examining the advantages of algorithms and big data in the fight against e-commerce fraud. Especially for fraud analysts working in companies with small budgets , machine-learning tools are seen as a cost-effective way to

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Machine LearningNews

Technological advancement is, for the most part, a wonderful thing. But as technology becomes more sophisticated, so does crime. Thankfully however, so do the methods to counter such menaces. Hui Wang is the senior director of global risk sciences at PayPal. For the last 11 years, she has seen the

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Big DataNews

The Market Practitioner Panel (MPP), an advising panel assisting the Bank of England has revealed that in the near future, Big Data could be utilized by financial institutions to detect illegal trading practices carried out by City traders. The MPP noted that current methods of spotting trading malpractices like  ‘key

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Artificial IntelligenceFinTechMachine Learning

The promise of Big Data and our ability to use it was a lofty one. Unfortunately, many Big Data efforts have turned out to be extremely costly, both in terms of the investment and the human capital required to draw insight out of it. While companies use many approaches to

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Data Science

Data Mining is an analytic process designed to explore data (usually large amounts of data – typically business or market related – also known as “big data”) in search of consistent patterns and/or systematic relationships between variables, and then to validate the findings by applying the detected patterns… Two centuries

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Data ScienceNewsRetail & Consumer

Alibaba Group, the Chinese e-commerce company, released a report earlier this month on the 18th of December, charting the results of a task force with the police that has been trying to stop the sale of fake goods on the company’s Taobao platform, reports the Shanghai-based online media outlet the

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Big DataFinanceNews

Big data is allowing Western Union to be proactive in fight against fraudulent wire transfers. They are using massive databases of customer information to analyse the risk that particular transactions may be fraudulent. If they believe any given transaction is the result of a scam, they have the power to

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