Data Mining for Fraud Detection

Abstract

With the increased use online and electronic resources both by the companies and the customers the problem of fraud has been rising in the last decade. Data mining to classify, cluster, and segment the data and automatically find associations and rules in the data, that may signify interesting patterns, including those related to fraud. This chapter aims to introduces to the concepts of fraud, processes and tools involved in data mining techniques, as well as the importance, challenges, and use cases.