Intelligent Financial Fraud Detection Practices: An Investigation

Financial fraud is an issue with far reaching consequences in the finance industry, government, corporate sectors, and for ordinary consumers. Increasing dependence on new technologies such as cloud and mobile computing in recent years has compounded the problem. Traditional methods of detection involve extensive use of auditing, where a trained individual manually observes reports or transactions in an attempt to discover fraudulent behaviour. This method is not only time consuming, expensive and inaccurate, but in the age of big data it is also impractical. Not surprisingly, financial institutions have turned to automated processes using statistical and computational methods. This paper presents a comprehensive investigation on financial fraud detection practices using such data mining methods, with a particular focus on computational intelligence-based techniques. Classification of the practices based on key aspects such as detection algorithm used, fraud type investigated, and success rate have been covered. Issues and challenges associated with the current practices and potential future direction of research have also been identified.Comment: Proceedings of the 10th International Conference on Security and Privacy in Communication Networks (SecureComm 2014

A comprehensive meta-analysis of cryptographic security mechanisms for cloud computing

The file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link.The concept of cloud computing offers measurable computational or information resources as a service over the Internet. The major motivation behind the cloud setup is economic benefits, because it assures the reduction in expenditure for operational and infrastructural purposes. To transform it into a reality there are some impediments and hurdles which are required to be tackled, most profound of which are security, privacy and reliability issues. As the user data is revealed to the cloud, it departs the protection-sphere of the data owner. However, this brings partly new security and privacy concerns. This work focuses on these issues related to various cloud services and deployment models by spotlighting their major challenges. While the classical cryptography is an ancient discipline, modern cryptography, which has been mostly developed in the last few decades, is the subject of study which needs to be implemented so as to ensure strong security and privacy mechanisms in today’s real-world scenarios. The technological solutions, short and long term research goals of the cloud security will be described and addressed using various classical cryptographic mechanisms as well as modern ones. This work explores the new directions in cloud computing security, while highlighting the correct selection of these fundamental technologies from cryptographic point of view