The Truth About Data Collection And How “Personal” Your Information Really Is

A Non-Traditional Fraud Detector

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Fraud has destroyed countless lives. Current fraud detection methods take time and resources. Data mining as a resource for fraud detection could protect millions of people’s investments. Being able to analyze large numbers of data in minutes would save millions of dollars.

Not a reality yet, activities being processed would need to be accurately labeled as fraudulent or not. Using patterns to determine this is controversial at best, although workable models are being designed. One proposed method includes supervising the collection of sample records. With this information, a workable model can be tested and implemented.