Fraud detection software

From: Will Dwinnell <predictor_at_dwinnell.com>
Date: 2 Sep 2001 17:21:05 -0700
Message-ID: <c27382c6.0109021621.6292572f@posting.google.com>

Mikolaj Morzy wrote:
"I've been told that Oracle is selling some kind of fraud detection
software for banking sector. Is that true and if so, could anyone please point me to some source of information on this subject.

Henning Follmann responded:
"I never hear of this software.

But I really doubt that there is such kind of software. this is very specialized to your Data/Business model. You have to define some rules and methods indicating a fraud which is very closly related to your business so it must be designed specially for you."

While its true that the rules need to match the particular business, it is not necessary that those rules be "designed" (by a programmer). Machine learning can ferret out rules which represent the norm for a data set, and deviations from those rules then considered
"suspicious". This capability has been available in commercial
software, such as WizRule (see www.wizsoft.com), for years. Received on Sun Sep 02 2001 - 19:21:05 CDT