- Title
- Prudent fraud detection in internet banking
- Creator
- Maruatona, Omaru; Vamplew, Peter; Dazeley, Richard
- Date
- 2012
- Type
- Text; Conference proceedings
- Identifier
- http://researchonline.federation.edu.au/vital/access/HandleResolver/1959.17/56515
- Identifier
- vital:4968
- Identifier
-
https://doi.org/10.1109/CTC.2012.13
- Abstract
- Most commercial Fraud Detection components of Internet banking systems use some kind of hybrid setup usually comprising a Rule-Base and an Artificial Neural Network. Such rule bases have been criticised for a lack of innovation in their approach to Knowledge Acquisition and maintenance. Furthermore, the systems are brittle; they have no way of knowing when a previously unseen set of fraud patterns is beyond their current knowledge. This limitation may have far reaching consequences in an online banking system. This paper presents a viable alternative to brittleness in Knowledge Based Systems; a potential milestone in the rapid detection of unique and novel fraud patterns in Internet banking. The experiments conducted with real online banking transaction log files suggest that Prudent based fraud detection may be a worthy alternative in online banking. © 2012 IEEE.
- Publisher
- Ballarat, VIC IEEE Computer Society Conference Publishing Services
- Rights
- Copyright 2012 IEEE
- Rights
- Open Access
- Rights
- This metadata is freely available under a CCO license
- Subject
- Fraud detection; Online banking; Prudence; RDM; RDR; RM
- Full Text
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