Thursday, 20 April 2017

Detecting fraud through data analysis by Richard Fowler via @infomgmt

It seems that these schemes often start as an honest mistake, and if no one notices, then a fraudster 'accidentally' does it again.

It is critical to monitor transactions in order to pick up fraud as well as closing the loophole that was exploited in order to create it.  In a perfect world it would be great if systems were designed, coded and tested perfectly but holes can and will be found so monitoring and closure is key to minimise losses.

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