20,059 research outputs found
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
"Going back to our roots": second generation biocomputing
Researchers in the field of biocomputing have, for many years, successfully
"harvested and exploited" the natural world for inspiration in developing
systems that are robust, adaptable and capable of generating novel and even
"creative" solutions to human-defined problems. However, in this position paper
we argue that the time has now come for a reassessment of how we exploit
biology to generate new computational systems. Previous solutions (the "first
generation" of biocomputing techniques), whilst reasonably effective, are crude
analogues of actual biological systems. We believe that a new, inherently
inter-disciplinary approach is needed for the development of the emerging
"second generation" of bio-inspired methods. This new modus operandi will
require much closer interaction between the engineering and life sciences
communities, as well as a bidirectional flow of concepts, applications and
expertise. We support our argument by examining, in this new light, three
existing areas of biocomputing (genetic programming, artificial immune systems
and evolvable hardware), as well as an emerging area (natural genetic
engineering) which may provide useful pointers as to the way forward.Comment: Submitted to the International Journal of Unconventional Computin
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