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Fraud detection is a knowledge-intensive activity. The main AI techniques used for fraud detection include: 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. Expert systems to encode expertise for detecting ...
A fake automated teller slot used for "skimming". Credit card fraud is an inclusive term for fraud committed using a payment card, such as a credit card or debit card. [1] The purpose may be to obtain goods or services or to make payment to another account, which is controlled by a criminal. The Payment Card Industry Data Security Standard (PCI ...
Carding (fraud) Carding refers not only to payment card based fraud, but also to a range of related activities and services. Carding is a term of the trafficking and unauthorized use of credit cards. [1] The stolen credit cards or credit card numbers are then used to buy prepaid gift cards to cover up the tracks. [2]
The Payment Card Industry Data Security Standard (PCI DSS) is an information security standard used to handle credit cards from major card brands. The standard is administered by the Payment Card Industry Security Standards Council, and its use is mandated by the card brands. It was created to better control cardholder data and reduce credit ...
The Luhn algorithm or Luhn formula, also known as the " modulus 10" or "mod 10" algorithm, named after its creator, IBM scientist Hans Peter Luhn, is a simple check digit formula used to validate a variety of identification numbers. It is described in US patent 2950048A, granted on 23 August 1960. [1]
Internet fraud prevention is the act of stopping various types of internet fraud.Due to the many different ways of committing fraud over the Internet, such as stolen credit cards, identity theft, phishing, and chargebacks, users of the Internet, including online merchants, financial institutions and consumers who make online purchases, must make sure to avoid or minimize the risk of falling ...
Cifas is a fraud prevention service in the United Kingdom. It is a not-for-profit membership association representing organisations from across the public, private and voluntary sectors. Cifas states its mission is "to detect, deter and prevent fraud in society by harnessing technology and working in partnership". [1]
Link analysis. In network theory, link analysis is a data-analysis technique used to evaluate relationships (Tap link [clarification needed]) between nodes. Relationships may be identified among various types of nodes (100k [clarification needed]), including organizations, people and transactions. Link analysis has been used for investigation ...