9 Proximity-based algorithms
This chapter covers
- Using advanced algorithms to fight fraud based on anomaly detection
- Using graphs for storing and analyzing the k-NN of transactions
- Identifying transactions that are anomalous
Chapter 8 introduced fraud detection techniques by showing two approaches based on identifying relationships that are explicit in the data. In the first case, each transaction connected the cardholder to the merchant where the card was used. In the second case, bank or credit card accounts were connected by the owner’s personal or access details (phone number, address, IP, and so on). But in most cases, such relationships are not explicit, and in these circumstances, we need to do more work to infer or discover connections ...
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