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Use of Hidden Markov Model as Internet Banking Fraud Detection

by Sunil S Mhamane, L.m.r.j Lobo
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International Journal of Computer Applications
Foundation of Computer Science (FCS), NY, USA
Volume 45 - Number 21
Year of Publication: 2012
Authors: Sunil S Mhamane, L.m.r.j Lobo
10.5120/7071-9556

Sunil S Mhamane, L.m.r.j Lobo . Use of Hidden Markov Model as Internet Banking Fraud Detection. International Journal of Computer Applications. 45, 21 ( May 2012), 5-10. DOI=10.5120/7071-9556

@article{ 10.5120/7071-9556,
author = { Sunil S Mhamane, L.m.r.j Lobo },
title = { Use of Hidden Markov Model as Internet Banking Fraud Detection },
journal = { International Journal of Computer Applications },
issue_date = { May 2012 },
volume = { 45 },
number = { 21 },
month = { May },
year = { 2012 },
issn = { 0975-8887 },
pages = { 5-10 },
numpages = {9},
url = { https://ijcaonline.org/archives/volume45/number21/7071-9556/ },
doi = { 10.5120/7071-9556 },
publisher = {Foundation of Computer Science (FCS), NY, USA},
address = {New York, USA}
}
%0 Journal Article
%1 2024-02-06T20:38:29.293517+05:30
%A Sunil S Mhamane
%A L.m.r.j Lobo
%T Use of Hidden Markov Model as Internet Banking Fraud Detection
%J International Journal of Computer Applications
%@ 0975-8887
%V 45
%N 21
%P 5-10
%D 2012
%I Foundation of Computer Science (FCS), NY, USA
Abstract

Now a day's Many Peoples are using internet banking for online Transaction we call it as E-commerce. As online transaction interest is increased associated with there are many frauds increasing such as using key logger, virus and worms to reveal internet banking account information such as password and ID. In this paper we explained about how Fraud is detected using Hidden Markov Model also care has been taken to prevent genuine Transaction should not be rejected by making use of one time password which is generated by server and sent to Personal Mobile of Customer. Hidden Markov Model is the statistical tools for engineer and scientists to solve various problems.

References
  1. Hidden Markov Model by Jia Li. Department of Statistics "The Pennsylvania State University" http://www. stat. psu. edu/~jiali/course/stat597e/notes2/hmm. pdf.
  2. "A Revealing Introduction to Hidden Markov Models" by mark stamp.
  3. "Credit Card Fraud Detection Using Hidden Markov Model" By Abhinav Srivastava, Amlan Kundu, Shamik Sural. IEEE Transaction, January-March 2008.
  4. "credit card fraud detection with a neural network" by Ghosh and Reilly. IEEE" Proceedings of the Twenty-Seventh Annual Hawaii International Conference on System Sciences, 1994.
  5. "Offline Internet Banking Fraud Detection" by Vasilis Aggelis.
  6. "Security Analysis for Internet Banking Models" By Osama Dandash, Phu Dung Le and Bala Srinivasan. Eighth ACIS International Conference on Software Engineering, Artificial Intelligence, Networking, and Parallel/Distributed Computing IEEE DOI 10. 1109/SNPD. 2007. 5321142
  7. "Study on Fraud Risk Prevention of Online Banks" By Qinghua Zhang. 2009 International Conference on Networks Security, Wireless Communications and Trusted Computing.
  8. "Fraudulent Internet Banking Payments Prevention using Dynamic Key" By Osama Dandash Yiling Wang and Phu Dung Leand Bala Srinivasan. "JOURNAL OF NETWORKS, VOL. 3, NO. 1, JANUARY 2008".
  9. Parallel Granular Neural Networks for Fast Credit Card Fraud Detection Mubeena Syeda, Yan-Qing Zbang and Yi Pan. IEEE Transaction.
  10. "Hidden Markov Model and Baum-Welch algorithm" by Lloyd R. Welch IEEE Information Theory Society Newsletter Vol. 53, No. 4, December 2003.
Index Terms

Computer Science
Information Sciences

Keywords

Internet Banking Hidden Markov Model Probability Fraud Detection Transaction

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