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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 DSS) is the data security standard created to ...
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 ...
Event processing is a method of tracking and analyzing (processing) streams of information (data) about things that happen (events), [1] and deriving a conclusion from them. Complex event processing (CEP) consists of a set of concepts and techniques developed in the early 1990s for processing real-time events and extracting information from ...
Paillier cryptosystem. The Paillier cryptosystem, invented by and named after Pascal Paillier in 1999, is a probabilistic asymmetric algorithm for public key cryptography. The problem of computing n -th residue classes is believed to be computationally difficult. The decisional composite residuosity assumption is the intractability hypothesis ...
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]
Concept drift. In predictive analytics, data science, machine learning and related fields, concept drift or drift is an evolution of data that invalidates the data model. It happens when the statistical properties of the target variable, which the model is trying to predict, change over time in unforeseen ways.
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 ...
Many companies offer free credit monitoring to people affected by a data breach, although only around 5 percent of those eligible take advantage of the service. [82] Issuing new credit cards to consumers, although expensive, is an effective strategy to reduce the risk of credit card fraud. [82]