A Combination of Mathematics, Statistics and Machine Learning To Detect Fraud

Abstract

Fraud detection which is a discussible phenomenon to many bounds together with financial sectors, banking, insurance as well as diverse forms of industries. Nowadays fraud endeavors are amplifying with rampant pace especially via the development of technology, so building fraud discovery more significant than ever before. In this paper, we analyzed the fraud operations by managing the “Banking Fraud Detection” database by the combination of mathematical, statistical as well as machine learning ways and tried to spectacle a comparison among these ways. We narrated the elementary explorations by the combining methods such as mathematical, statistical as well as machine learning to equip the ways of insidious banking transactions.