Bank Fraud : Using technology to combat losses

Bank Fraud Using Technology to Combat Losses

by Revathi Subramanian

WILEY

Content

Preface

Acknowledgments

About the Author

Chapter 1 Bank Fraud: Then and Now

• The Evolution of Fraud
• The Evolution of Fraud Analysis
• Summary

Chapter 2 Quantifying Fraud: Whose Loss Is It Anyway?

• Fraud in the Credit Card Industry
• The Advent of Behavioral Models
• Fraud Management: An Evolving Challenge
• Fraud Detection across Domains
• Using Fraud Detection Effectively
• Summary

Chapter 3 In God We Trust. The Rest Bring Data!

• Data Analysis and Causal Relationships
• Behavioral Modeling in Financial Institutions
• Setting Up a Data Environment
• Understanding Text Data
• Summary

Chapter 4 Tackling Fraud: The Ten Commandments

• Data: Garbage In; Garbage Out
• No Documentation? No Change!
• Key Employees Are Not a Substitute for Good Documentation
• Rules: More Doesn’t Mean Better
• Score: Never Rest on Your Laurels
• Score + Rules = Winning Strategy
• Fraud: It Is Everyone’s Problem
• Continual Assessment Is the Key
• Fraud Control Systems: If They Rest, They Rust
• Continual Improvement: The Cycle Never Ends
• Summary

Chapter 5 It Is Not Real Progress Until It Is Operational

• The Importance of Presenting a Solid Picture
• Building an Effective Model
• Summary

Chapter 6 The Chain Is Only as Strong as Its Weakest Link

• Distinct Stages of a Data-Driven Fraud Management System
• The Essentials of Building a Good Fraud Model
• A Good Fraud Management System Begins with the Right Attitude
• Summary

Chapter 7 Fraud Analytics: We Are Just Scratching the Surface

• A Note about the Data
• Data
• Regression 1
• Logistic Regression 1
• “Models Should Be as Simple as Possible, But Not Simpler”
• Summary

Chapter 8 The Proof of the Pudding May Not Be in the Eating

• Understanding Production Fraud Model Performance
• The Science of Quality Control
• False Positive Ratios
• Measurement of Fraud Detection against Account False Positive Ratio
• Unsupervised and Semisupervised Modeling Methodologies
• Summary

Chapter 9 The End: It Is Really the Beginning!