This approach follows the following stepsApply some(prenominal) machine learning algorithms on different subset of data from twain banks to establish the potential of inductive learning methods in travesty detectionThen meta-learning and evaluate its utility by combining the fraud detector of each bankExchange of classifier between two banks and providing empirical EXAMPLE OF proactive FRAUD DETECTION METHODA software package called PRISM (proactive fraud risk management ) is used to detect credit bait fraud carried out through the use of stolen lost card or card never received , phone , catalog sale , etcThe initial cost may be postgraduate but benefits obtained by the system in preventing and detecting the fraud make it worthwhile for large organizationsEXAMPLE OF DEDUCTIVE FRAUD DETECTION METHODIf an auditor 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 ingest table (see exhibit , below ) available in any auditing textbook . Such a table consists of a opportunity matrix correlating the frequency of certain occurrences in a seek with approximations of the likelihood of their existence in the population from which...If you want to grow a full essay, order it on our website: Ordercustompaper.com
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