Fraud Detection is the detection of fraud ( deceiving someone or an organization to gain something). With the technological innovations, fraudulent activities have become a common place. For example, forging checks, cracking passwords to gain access to bank accounts etc. These activities are causing huge financial and economical damages. With many fraudulent activities recorded, Data Mining can be used to find patterns in fraudulent activities which helps in detecting and hampering these activities.
Write a 5–10 page APA formatted paper on a business problem that requires data mining, why the problem is interesting, the general approach you plan to take, what kind of data you plan to use, and finally how you plan to get the data. You should describe your problem, approach, dataset, data analysis, evaluation, discussion, references, and so on, in sufficient details, and you need to show supporting evidence in tables and/or figures. You need to provide captions for all tables and figures.
Your paper should include an abstract and a conclusion and a reference page with 8–10 references.