This approach follows the quest stepsApply some(prenominal) machine learning algorithms on different subset of data from braces banks to establish the potential of inductive learning methods in humbug detectionThen meta-learning and evaluate its utility by combining the artifice sensor of each bankExchange of classifier between two banks and providing empirical EXAMPLE OF proactive FRAUD perception METHODA software package called PRISM (proactive trick risk management ) is exampled to detect credit gull fraud carried out through the use of stolen lost account or card never received , phone , catalog sale , etcThe initial cost may be high but benefits obtained by the system in preventing and detecting the fraud make it worthwhile for large organizationsEXAMPLE OF DEDUCTIVE FRAUD DETECTION M ETHODIf an meeter wanted to examine checks ! to see if someone in the comp both was making fraudulent payments to vendors , he or she would use random-number-generating software to select the serial numbers of checks to review . The auditor then would refer to a basic discovery engulf table (see exhibit , below ) available in any(prenominal) auditing textbook . Such a table consists of a probability matrix correlating the frequency of certain occurrences in a try with approximations of the likelihood of their existence in the population from which...If you want to get on a full essay, order it on our website: OrderCustomPaper.com
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