Real-time Fraud Detection has always been a challenging task, especially in financial, insurance, and telecom industries. There are mainly three methods, which are rule set, outlier detection and classification to sol...Real-time Fraud Detection has always been a challenging task, especially in financial, insurance, and telecom industries. There are mainly three methods, which are rule set, outlier detection and classification to solve the problem. But those methods have some drawbacks respectively. To overcome these limitations, we propose a new algorithm UAF (Usage Amount Forecast).Firstly, Manhattan distance is used to measure the similarity between fraudulent instances and normal ones. Secondly, UAF gives real-time score which detects the fraud early and reduces as much economic loss as possible. Experiments on various real-world datasets demonstrate the high potential of UAF for processing real-time data and predicting fraudulent users.展开更多
基金This paper is supported by the National Natural Science Foundation of China (61272515), and National Science & Technology Pillar Program (2015BAH03F02).
文摘Real-time Fraud Detection has always been a challenging task, especially in financial, insurance, and telecom industries. There are mainly three methods, which are rule set, outlier detection and classification to solve the problem. But those methods have some drawbacks respectively. To overcome these limitations, we propose a new algorithm UAF (Usage Amount Forecast).Firstly, Manhattan distance is used to measure the similarity between fraudulent instances and normal ones. Secondly, UAF gives real-time score which detects the fraud early and reduces as much economic loss as possible. Experiments on various real-world datasets demonstrate the high potential of UAF for processing real-time data and predicting fraudulent users.
