Study on Financial Fraud Detection & Prevention Techniques

Abstract

Data mining strategies have the capacity of distinguishing fraud in light of the fact that these techniques can use previous instances of fraud to assemble models, which recognize and identify the danger of fraud. Fiscal summary fraud, one of the monetary frauds, has arrived at the pestilence extent all around the world. Falls of high profile organizations have left a filthy smear on the viability of corporate administration, nature of monetary reports, and believability of review capacities. Fiscal summary fraud has become a basic issue for the associations all throughout the planet Detection of Financial Statement Fraud is one of the key application spaces of Data Mining, since data mining strategies are fit for finding the explanations for fraudulent monetary revealing.