Bank fraud : using technology to combat losses /: using technology to combat losses. ([2014])

• Record Type: Book
• Further Information: Note: Revathi Subramanian.
• Other Names: Subramanian, Revathi
• Contents: Bank Fraud; Contents; Preface; Acknowledgments; About the Author; CHAPTER 1 Bank Fraud: Then and Now; THE EVOLUTION OF FRAUD; Fraud in the Present Day; Risk and Reward; Secured Lending versus Unsecured Lending; Statistical Models and the Problem of Prediction; THE EVOLUTION OF FRAUD ANALYSIS; Early Credit Card Fraud; Separating the Wheat from the Chaff; The Advent of Nonlinear Statistical Models; Tackling Fraud with Technology; SUMMARY; CHAPTER 2 Quantifying Fraud: Whose Loss Is It Anyway?; Data Storage and Statistical Thinking; Understanding Non-Fraud Behavior; Quantifying Potential Risk. Recording the Fraud EpisodeSupervised versus Unsupervised Modeling; The Importance of Accurate Data; FRAUD IN THE CREDIT CARD INDUSTRY; Early Charge and Credit Cards; Lost-and-Stolen Fraud: The Beginnings of Fraud in Credit Cards; Card-Not-Present Fraud and Changes in the Marketplace; 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. Customer Expectations versus Standards of PrivacyThe Importance of Data in Implementing Good Behavioral Models; SETTING UP A DATA ENVIRONMENT; 1. Know Your Data; 2. Collect All the Data You Can from Day One; 3. Allow for Additions as the Data Grows; 4. If You Cannot Integrate the Data, You Cannot Integrate the Businesses; 5. When You Want to Change the Definition of a Field, It Is Best to Augment and Not Modify; 6. Document the Data You Have as Well as the Data You Lost; 7. When Change Happens, Document It; 8. ETL: "Extract, Translate, Load" (Not "Extract, Taint, Lose"). 9. A Data Model Is an Impressionist Painting10. The Top Two Assets of Any Business Today Are People and Data; UNDERSTANDING TEXT DATA; SUMMARY; CHAPTER 4 Tackling Fraud: The Ten Commandments; 1. DATA: GARBAGE IN; GARBAGE OUT; 2. NO DOCUMENTATION? NO CHANGE!; 3. KEY EMPLOYEES ARE NOT A SUBSTITUTE FOR GOOD DOCUMENTATION; 4. RULES: MORE DOESN'T MEAN BETTER; 5. SCORE: NEVER REST ON YOUR LAURELS; 6. SCORE + RULES = WINNING STRATEGY; 7. FRAUD: IT IS EVERYONE'S PROBLEM; 8. CONTINUAL ASSESSMENT IS THE KEY; 9. FRAUD CONTROL SYSTEMS: IF THEY REST, THEY RUST. 10. CONTINUAL IMPROVEMENT: THE CYCLE NEVER ENDSSUMMARY; CHAPTER 5 It Is Not Real Progress Until It Is Operational; THE IMPORTANCE OF PRESENTING A SOLID PICTURE; BUILDING AN EFFECTIVE MODEL; 1. Operations Personnel Need to Understand the Concept of a Fraud Score; 2. The Score Development Process Must Take into Consideration Operational Use and Constraints; 3. In General, Fraud Strategies Should Complement and Not Compete with the Fraud Score; 4. Fraud Strategies and Operational Processes Should Be Well Documented; SUMMARY; CHAPTER 6 The Chain Is Only as Strong as Its Weakest Link. DISTINCT STAGES OF A DATA-DRIVEN FRAUD MANAGEMENT SYSTEM.
• Publisher Details: Hoboken, New Jersey : Wiley
• Publication Date: 2014
• Copyright Date: 2014
• Extent: 1 online resource
• Subjects: 332.1068/4; Banks and banking -- Security measures; Bank fraud -- Prevention; Bank fraud -- Prevention -- Technological innovation; BUSINESS & ECONOMICS -- Finance; Bank fraud -- Prevention; Banks and banking -- Security measures; Electronic books; Electronic books
• Languages: English
• ISBNs: 9781118233979; 1118233972; 9781118220320; 1118220323; 9781118886168
• Related ISBNs: 111888616X; 9780470494394; 0470494395
• Notes: Note: Includes bibliographical references and index.; Note: Print version record and CIP data provided by publisher.
• Access Rights: Legal Deposit; Only available on premises controlled by the deposit library and to one user at any one time; The Legal Deposit Libraries (Non-Print Works) Regulations (UK).
• Access Usage: Restricted: Printing from this resource is governed by The Legal Deposit Libraries (Non-Print Works) Regulations (UK) and UK copyright law currently in force.