Financial fraud detection using graph neural networks: A systematic review

Motie, Soroor; Raahemi, Bijan

doi:10.1016/j.eswa.2023.122156

Cited by 7 publications

(2 citation statements)

References 31 publications

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“…Enterprises should establish a perfect system of job responsibilities and authority, implement the principle of separation of duties, and ensure that each link in the financial process has the corresponding internal control measures to supervise [5]. In addition, internal control can also improve employees' awareness of internal control and enhance their consciousness of complying with internal regulations through regular training and communication.…”

Section: The Influence Mechanism Of Internal Control On Financial Fra...mentioning

confidence: 99%

Financial Fraud Prevention and Monitoring from the Perspective of Internal Control

2023

acccm

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Financial fraud has become a critical concern for corporate management as the global economy has grown in complexity and enterprise scale. Financial fraud not only directly threatens the economic interests of businesses, but it also harms market trust, shareholders' rights and interests, and has a detrimental influence on the overall health of the economy. This paper is dedicated to exploring the multifaceted domain of financial fraud prevention and monitoring through the strategic lens of internal control. Functioning as a linchpin within an organization's internal framework, internal control assumes a paramount role in thwarting and vigilantly overseeing instances of financial malfeasance. A meticulous analysis of the intricate concepts, principles, and frameworks inherent in internal control forms the crux of this study, aiming to unravel the specific applications that bolster its efficacy in preventing and monitoring financial fraud within the organizational milieu. By shedding light on these intricacies, the paper contributes to a deeper understanding of how internal control serves as a proactive safeguard against the intricate challenges posed by financial fraud.

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Section: The Influence Mechanism Of Internal Control On Financial Fra...mentioning

confidence: 99%

Financial Fraud Prevention and Monitoring from the Perspective of Internal Control

2023

acccm

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“…These fraudulent schemes, such as insurance fraud and sophisticated skimming techniques, are designed to secure illicit financial gains ( Cheah, Yang & Lee, 2023 ). According to the Canadian Anti-Fraud Centre (CAFC) report in 2022, there were over 91,190 fraud reports, with victims suffering losses exceeding $531 million ( Motie & Raahemi, 2023 ). This underscores the substantial monetary losses and erosion of trust in financial institutions caused by financial fraud.…”

Section: Introductionmentioning

confidence: 99%

Enhancing fraud detection in auto insurance and credit card transactions: a novel approach integrating CNNs and machine learning algorithms

Ming,

Abdelrahman,

Innab

et al. 2024

PeerJ Computer Science

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Fraudulent activities especially in auto insurance and credit card transactions impose significant financial losses on businesses and individuals. To overcome this issue, we propose a novel approach for fraud detection, combining convolutional neural networks (CNNs) with support vector machine (SVM), k nearest neighbor (KNN), naive Bayes (NB), and decision tree (DT) algorithms. The core of this methodology lies in utilizing the deep features extracted from the CNNs as inputs to various machine learning models, thus significantly contributing to the enhancement of fraud detection accuracy and efficiency. Our results demonstrate superior performance compared to previous studies, highlighting our model’s potential for widespread adoption in combating fraudulent activities.

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Leveraging graph-based learning for credit card fraud detection: a comparative study of classical, deep learning and graph-based approaches

Harish,

Lakhanpal,

Jafari

2024

Neural Comput & Applic

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Financial fraud detection using graph neural networks: A systematic review

Cited by 7 publications

References 31 publications

Financial Fraud Prevention and Monitoring from the Perspective of Internal Control

Financial Fraud Prevention and Monitoring from the Perspective of Internal Control

Enhancing fraud detection in auto insurance and credit card transactions: a novel approach integrating CNNs and machine learning algorithms

Leveraging graph-based learning for credit card fraud detection: a comparative study of classical, deep learning and graph-based approaches

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