Abstract
Fintech companies have been facing challenges from fraudulent behavior for a long time. Fraud rate in Chinese P2P financial market could go as high as 10%. It is crucial to collect sufficient information of the user as input to the anti-fraud process. Data collection framework for Fintech companies are different from conventional internet firms. With individual-based crawling request, we need to deal with new challenges negligible elsewhere. In this paper, we give an outline of how we collect data from the web to facilitate our anti-fraud process. We also overview the challenges and solutions to our problems. Our team at HC Financial Service Group is one of the few companies that are capable of developing full-fledged crawlers on our own.
Highlights
Fraud rate in Chinese P2P market is estimated over 10%
As the 3rd largest P2P company in China, HC Financial Service Group has built a full-fledged technical team specialized on information collection
We provide a description on how information collection works at HC Financial Service Group
Summary
Fraud rate in Chinese P2P market is estimated over 10%. The high fraud rate poses a severe threat to P2P companies compared with conventional banking system where the fraud rate is as low as 2%. The credit-checking measure crawls user’s information from different websites upon his authorization Such information is crucial for the following step of anti-fraud detection which takes the collected user information as input. Many small-to-medium enterprises do not have the capacity to crawl data on their own They rely on third-party companies to provide such services. Famous companies that provide commercial data collecting services include Tong Dun , Mo Jie , and Xin De etc. As the 3rd largest P2P company in China, HC Financial Service Group has built a full-fledged technical team specialized on information collection. We provide a description on how information collection works at HC Financial Service Group. We could not give a thorough description of our technologies , we hope the overview we are about to outline helps researchers and industrial workers better understand the information collection and anti-fraud processes in the industrial world
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