A Survey of Fraud Detection Techniques, Process and Applications

Abstract

Extortion is expanding drastically with the expansion of current innovation and the worldwide superhigh-ways of correspondence, subsequent in the damage of billions of bucks world-wide each time. Fraud is an active area of research. Various fraud detection issues comprised huge data sets that are constantly evolving. In this paper, we reviewed various applications and advantages of fraud detection.We surveyed the previous technical review articles in fraud detection. Furthermore, the steps involved to detect fraud in documents. Three approaches are being investigated: a rule-based approach, model based approach and neural network.