Well the first usecase we are aiming for is Credit Card Fraud Detection at Merchant level. We do not have readily available datasets (since these are credit card transactions, usually this data is not readily available). However, at this point we are only doing a POC to show that our system is able to perform this kind of functions. It is only a matter of fine tuning the weights assigned to the rules, which can be done when we implement this for customers. The weights are largely dependent on the merchant type/size etc;
On Tue, Nov 18, 2014 at 1:37 PM, Waruna Perera <[email protected]> wrote: > Hi Seshika, > > Are you planning to test this based on some real world scenarios and data? > ( ex: stock prices) Therefore to get and idea how accurate we can be. > > Thanks, > > On Tue, Nov 18, 2014 at 10:59 AM, Seshika Fernando <[email protected]> > wrote: > >> Hi all, >> >> Following the implementation of Fraud Rules, and Markov Chain capability >> in order to do outlier detection in CEP, we are hoping to implement Fraud >> Scoring capability. >> >> Fraud Scoring is a mechanism to evaluate multiple features of a >> transaction (eg:- geolocation, ip address, billing/shipping address, >> transaction velocity etc;) and based on historical trends and blacklists, >> compute a score for each transaction (eg:- between 0 and 100). Higher the >> score, higher the risk that the transaction will be a fraudulent >> transaction. [1] is a good introduction to Fraud Scoring. >> >> Now that we have already implemented several fraud detection rules, the >> plan is to augment this using a scoring system, so that siddhi calculates a >> score for each transaction, based on how it performed in the rules. [2] >> gives a very simple example of how this might be done. >> >> When we complete this, we are able to show that CEP can perform fraud >> detection in the following ways >> a. Rule based >> b. Using Markov Chains >> c. Using Fraud Scores >> >> 1. http://www.fraudpractice.com/fl-fraudscore.html >> 2. https://www.maxmind.com/en/ccfd_formula >> >> Cheers, >> Seshika >> >> >> >> _______________________________________________ >> Architecture mailing list >> [email protected] >> https://mail.wso2.org/cgi-bin/mailman/listinfo/architecture >> >> > > > -- > Waruna Perera > Senior Software Engineer - Test Automation > Mobile: +94 77 3867037 > WSO2, Inc.; http://wso2.com/ > lean . enterprise . middlewear. > > _______________________________________________ > Architecture mailing list > [email protected] > https://mail.wso2.org/cgi-bin/mailman/listinfo/architecture > >
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