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    Off-the-peg and bespoke classifiers for fraud detection

    Juszczak, P. and Adams, N.M. and Hand, D.J. and Whitrow, C. and Weston, David J. (2008) Off-the-peg and bespoke classifiers for fraud detection. Computational Statistics & Data Analysis 52 (9), pp. 4521-4532. ISSN 0167-9473.

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    Abstract

    Detecting fraudulent plastic card transactions is an important and challenging problem. The challenges arise from a number of factors including the sheer volume of transactions financial institutions have to process, the asynchronous and heterogeneous nature of transactions, and the adaptive behaviour of fraudsters. In this fraud detection problem the performance of a supervised two-class classification approach is compared with performance of an unsupervised one-class classification approach. Attention is focussed primarily on one-class classification approaches. Useful representations of transaction records, and ways of combining different one-class classifiers are described. Assessment of performance for such problems is complicated by the need for timely decision making. Performance assessment measures are discussed, and the performance of a number of one- and two-class classification methods is assessed using two large, real world personal banking data sets.

    Metadata

    Item Type: Article
    School: Birkbeck Schools and Departments > School of Business, Economics & Informatics > Computer Science and Information Systems
    Depositing User: Sarah Hall
    Date Deposited: 02 Aug 2013 13:52
    Last Modified: 02 Aug 2013 13:52
    URI: http://eprints.bbk.ac.uk/id/eprint/7964

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