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http://dx.doi.org/10.7838/jsebs.2021.26.3.021

A Study on the Fraud Detection through Sequential Pattern Analysis: Focused on Transactions of Electronic Prepayment  

Choi, Byung-Ho (Department of Industrial & Information Systems, Graduate school of Public Policy and Information Technology, Seoul National University of Science & Technology)
Cho, Nam-Wook (Department of Industrial & Information Systems Engineering, Seoul National University of Science & Technology)
Publication Information
The Journal of Society for e-Business Studies / v.26, no.3, 2021 , pp. 21-32 More about this Journal
Abstract
Due to the recent development in electronic financial services, transactions of electronic prepayment are rapidly increasing. The increased transactions of electronic prepayment, however, also leads to the increased fraud attempts. It is mainly because electronic prepayment can easily be converted into cash. The objective of this paper is to develop a methodology that can effectively detect fraud transactions in electronic prepayment, by using sequential pattern mining techniques. To validate our approach, experiments on real transaction data were conducted and the applicability of the proposed method was demonstrated. As a result, the accuracy of the proposed method has been 95.6 percent, showing that the proposed method can effectively detect fraud transactions. The proposed method could be used to reduce the damage caused by the fraud attempts of electronic prepayment.
Keywords
Electronic Prepayment Means; Electronic Financial Frauds; Fintech Security; Financial Fraud Detection; Sequence Pattern Analysis;
Citations & Related Records
Times Cited By KSCI : 2  (Citation Analysis)
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