A semantic rule based digital fraud detection

Mansoor Ahmed*, Kainat Ansar, Cal B. Muckley, Abid Khan, Adeel Anjum, Muhammad Talha

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

5 Citations (SciVal)
66 Downloads (Pure)

Abstract

Digital fraud has immensely affected ordinary consumers and the finance industry. Our dependence on internet banking has made digital fraud a substantial problem. Financial institutions across the globe are trying to improve their digital fraud detection and deterrence capabilities. Fraud detection is a reactive process, and it usually incurs a cost to save the system from an ongoing malicious activity. Fraud deterrence is the capability of a system to withstand any fraudulent attempts. Fraud deterrence is a challenging task and researchers across the globe are proposing new solutions to improve deterrence capabilities. In this work, we focus on the very important problem of fraud deterrence. Our proposed work uses an Intimation Rule Based (IRB) alert generation algorithm. These IRB alerts are classified based on severity levels. Our proposed solution uses a richer domain knowledge base and rule-based reasoning. In this work, we propose an ontology-based financial fraud detection and deterrence model.

Original languageEnglish
Article numbere649
Number of pages21
JournalPeerJ Computer Science
Volume7
DOIs
Publication statusPublished - 03 Aug 2021

Keywords

  • Alert model
  • Database
  • Digital fraud
  • Knowledge base
  • Security and Privacy
  • Semantic web
  • World Wide Web and Web Science

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