Machine Learning Advances in Payment Card Fraud Detection - 1st Edition - ISBN: 9780128134153

Machine Learning Advances in Payment Card Fraud Detection

1st Edition

Authors: Nick Ryman-Tubb Paul Krause
Paperback ISBN: 9780128134153
Imprint: Academic Press
Published Date: 1st September 2019
Page Count: 350
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Machine Learning Advances in Payment Card Fraud Detection provides a thorough review of the state-of-the-art in fraud detection research that is ideal for graduate-level readers and professionals. Through a comprehensive examination of fraud analytics that covers data collection, steps for cleaning and processing data, tools for analysing data, and ways to draw insights, the book argues for a new direction to be taken in developing state-of the-art payment fraud detection techniques. It uses an extensive analysis and description of an exemplar fraud detection algorithm, SOAR, to illustrate how a detailed understanding of the payment fraud domain can be used to motivate further advances in fraud detection techniques. The book concludes with a discussion of opportunities for future research, such as developing holistic approaches for countering fraud.

Key Features

  • Provides a detailed analysis of the payment fraud detection domain
  • Develops an evaluation methodology for fraud detection techniques that takes full account of the business needs of the payment card industry
  • Introduces state-of the-art payment fraud detection techniques


Graduate level (MBA) and professionals working in credit card fraud detection and analysis

Table of Contents

  1. Introduction
    2. History of payment cards
    3. Growth of payment card fraud
    4. The fraud detection problem
    5. Understanding the fraud domain
    6. Cost of payment fraud
    7. History of payment card fraud detection methods
    8. The pivotal event and disruptive technologies
    9. The Sparse Oracle-based Adaptive Rule extraction algorithm
    10. Real-world data empirical evaluation
    11. Discussion and conclusion


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© Academic Press 2020
Academic Press
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About the Author

Nick Ryman-Tubb

Nick F. Ryman-Tubb helped to pioneer the application of artificial intelligence (AI) and deep learning neural networks within the financial industry. In 1986, he founded Neural Technologies in the UK, among the first AI businesses focused on risk, banking, and payment fraud. After his exit in 2000, Nick joined businesses that today deploy his AI in insurance, money laundering, contactless/mobile payment fraud detection, protecting over 150 institutions, more than 3 million merchants, 1 billion cards, and over 30 billion credit/debit card transactions a year. Nick is a professor and Machine Learning Impresario at the University of Surrey where he teaches and continues his research. He recently formed the Institute for Financial Innovation in Transactions and Security (FITS) as a non-profit organisation with a simple vision – to dramatically reduce payment fraud using AI. Today, FITS works with all its industry members towards this shared vision.

Affiliations and Expertise

University of Surrey, Guilford, UK

Paul Krause

Paul Krause is professor in Complex Systems at the University of Surrey. He graduated in pure mathematics and experimental physics from the University of Exeter, and then spent the next ten years as a researcher in geophysics and then low-temperature physics. Following that, he moved to his main research career path in the theory and practice of AI. While maintaining, with a spirited defence, that we are far, far off any “AI singularity”, he does believe that the computer age is providing us with a set of valuable tools to help us achieve a better understanding of the intensely interdisciplinary problems that complexity science is now beginning to address.

Affiliations and Expertise

University of Surrey, Guilford, UK

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