O'Reilly logo

Hadoop for Finance Essentials by Rajiv Tiwari

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Project details – identifying fraudulent transactions

One of the biggest problems in the financial industry is the payment card fraud, and as of 2013, is reportedly at $14 billion globally and $7.1 billion within the U.S.

It is very common for retailers to store customers' credit card details, either due to recurring payments or for ease of frequent transactions. There have been many cases when, due to inadequate security standards, the card details have been stolen by hackers. I will not discuss how the card details are stolen and fraudulent transaction are done, but it is a huge cost to financial organizations in investigating the fraud and awarding compensations to customers.

Most retail banks are facing a similar problem of frequent credit/debit ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required