A financial statement fraud detection model based on hybrid data mining
Financial statement fraud has been a difficult problem for both the public and government regulators, so various data mining methods have been used for financial statement fraud detection to provide decision support for stakeholders. The purpose of this study is to propose an optimized financial fraud detection model combining feature selection and …
Detecting Click Fraud in Online Advertising: A Data Mining Approach
The competition results provide a comprehensive study on the usability of data mining-based fraud detection approaches in practical setting. Our principal findings are that features derived from fine-grained time-series analysis are crucial for accurate fraud detection, and that ensemble methods offer promising solutions to highly-imbalanced ...
Intelligent Prediction Mathematical Model of Industrial …
This paper mainly studies the application of mathematical models and data mining technology in financial fraud identification. Based on the prior knowledge and feature …
Mining Capital Coin CEO accused of $62M investment fraud …
CEO and co-founder of crypto mining and investment platform Mining Capital Coin (MCC) Luiz Capuci has been indicted by the United States Department of Justice (DOJ) for "allegedly orchestrating ...
Nickel fraud: Same paper in, same paper out
There has been a spate of cases involving nickel fraud in recent years. One such case involved warehouse receipts (WHR) issued by Access World in 2016 which resulted in recent decisions in Natixis ...
Qingdao metals fraud probe focusing on Decheng Mining
China's investigation of whether metals stockpiled at Qingdao Port fall short of collateral obligations used to secure loans is focused on Decheng Mining, said two bankers assisting with the probe.
SEC accuses Macquarie of inflating asset values, issues …
The Macquarie Investment Management Business Trust under scrutiny from the SEC are the thousands of smaller so-called odd lot mortgage-backed securities which …
SFO charges former London Mining execs with bribery
The UK Serious Fraud Office recently announced bribery charges against two former executives of London Mining Plc, a mine operator and developer. The two former executives, Chief Executive Officer Graeme Hossi and Chief Financial Officer Rachel Rhodes, were charged on June 16, 2023 alongside Ariel Armon, an international …
Anti-fraud system on the basis of data mining technologies
The article is devoted to the issues of increasing the efficiency of transaction monitoring systems (TMS). The main types of TMS with their advantages and disadvantages are considered, and various algorithms of data mining used in this field were also considered. On the basis of the analysis of systems and algorithms, three classifiers were chosen: a …
Watch Out For These 4 Bitcoin Scams – Forbes Advisor
The man, whom ABC Everyday identified as Jonathan, saw an Instagram post that advertised the chance to make a 50% return mining for Bitcoin. He initially sent the site $50, and soon thereafter got ...
New & Used Construction Equipment For Sale | Machinery …
Machinery Trader is the industry's prime marketplace for new and used construction equipment for sale. In the pages of Machinery Trader and on …
The Companies Accused of Buying Latin America's Illegal Gold
Illegal gold mining is big business in Peru. The inside story of the companies accused of financing South America's illegal gold trade. A team of OjoPublico reporters …
Mining scandals: four incidents that shook the …
Bre-X's fake gold mine. In 1989, Canadian businessmen David Walsh founded the Bre-X mining company, which would find itself at the centre of a scandal so infamous it inspired the 2016 film Gold.In …
3 Types of Fraud in the Mining Industry
Fraud can occur in companies from any field, both from profit and non-profit companies. According to Report to The Nation 2020, there are 23 industries that experience fraud cases, with the biggest fraud losses occurring in the mining industry — although there were only 26 reported cases of fraud, the losses have reached $ 475,000.
Lawyer alleges Gina Rinehart committed …
A lawyer for Rinehart's children alleges there is clear evidence that mining licenses were unlawfully transferred to the company and a subsidiary after her father, Lang Hancock, died in 1992 ...
Healthcare Fraud Data Mining Methods: A Look Back and …
Abstract Healthcare fraud is an expensive, white-collar crime in the United States, and it is not a victimless crime. Costs associated with fraud are passed on to the population in the form of increased premiums or serious harm to beneficiaries. There is an intense need for digital healthcare fraud detection systems to evolve in combating this societal threat. …
Colorado Springs Man Indicted in Securities Fraud in Cripple Creek Mine
Shannon P. Murphy, 59, was indicted Jan. 12 for allegedly telling investors that money they pumped into his Epic Mineral Resources Inc., Murphy Mining International and Murphy Mining and Exploration would be used for mining in Cripple Creek. Some of the money allegedly was diverted to him and his wife and used for and …
Fraud detection in health insurance using data mining techniques
Fraud is widespread and very costly to the healthcare insurance system. Fraud involves intentional deception or misrepresentation intended to result in an unauthorized benefit. It is shocking because the incidence of health insurance fraud keeps increasing every year. In order to detect and avoid the fraud, data mining techniques …
CFFI | Data Mining for Fraud
Data mining may be the most valuable tool for organizations who may suspect fraud, waste, or abuse. Data mining is my go-to analysis tool because I feel like it provides the most efficient "bang for the buck." Here are a few of my favorite reasons to use data mining. You aren't limited by system interfaces.
Data mining application to detect financial fraud in Indonesia…
Association of Certified Fraud Examiners explains that there are 3 types of occupational fraud: financial statement fraud, asset misappropriation and corruption. Among these three, financial statement fraud caused the biggest losses, which amounted to $ 1,000,000 in 2014. Financial statement has important role as an indicator of the …
Study Shows Mining Ranks High in Fraud Loss-per-Case, …
However, the volume of mining fraud cases was eclipsed by those in banking and finance (386), government and public administration (195), manufacturing (185) and health care (149). While mining also registered the largest median loss ($475,000) of all industries examined in the report, its median financial loss decreased by 5% in the last four ...
Trader Gerald Group says it was hit by $49 million tin fraud
Trafigura is still in court over an alleged $500 million fraud in nickel, ... Tin mining in Cornwall can be traced back to 2100 BC and companies are working on bringing some mines back to life ...
Former Anglo American executive accused of …
A fraud claim against former Anglo American (LON:AAL) executive Glenn James Tonkin has ballooned with his ex-employer accusing him of misappropriating $9.8 million, more than twice as much …
DETECTING FINANCIAL FRAUD USING DATA MINING …
Classification of fraud types examined by data mining methods in one decade Table 3 further provides in-depth analysis by observing the frequency of the sub-categories of financial fraud types in the 10-year period. Table 3 Further break-down for fraud types with corresponding data mining techniques Techniques Fraud Types Bank fraud Financial
Increasing Fraud in the Mining Industry Drives Demand for …
In 2024, the mining industry is facing more hurdles than ever before, creating an urgent need for a major digital overhaul. Despite the digital revolution reshaping global industries, the $11 ...
Data Mining Techniques in Fraud Detection
Fraud detection is crucial for modern businesses as it protects financial assets, maintains customer trust, and ensures regulatory compliance. However, due to the increasing complexity and volume of …
Wyoming Man Behind Mine Fraud Scheme Gets Five Years …
Wyoming Man Behind Mine Fraud Scheme Gets Five Years in Prison. Published: October 6, 2020 | Larry Price Jr. [Click image to enlarge] A former Wyoming coal mine vice president was sentenced Friday to five years in prison almost two years after he pleaded guilty and admitted to stealing millions of dollars from his company and private …
Ontonagon man pleads guilty to embezzlement | News, …
LANSING — An Ontonagon man pleaded guilty in Macomb County Monday to embezzling nearly $300,000 from an elderly woman for whom he served as attorney. Richard Filbey, 62, pleaded guilty to one count of embezzlement from a vulnerable adult of $100,000 or more and one count of tax fraud for embezzling funds from an elderly […]
3 Types of Fraud in the Mining Industry
Reading Time: 2 minutes Fraud can occur in companies from any field, both from profit and non-profit companies. According to Report to The Nation 2020, there are 23 industries that experience fraud cases, with the biggest fraud losses occurring in the mining industry — although there were only 26 reported cases of fraud, the losses …
Canadian technology company creates metals supply chain …
Aurubis AG uncovered a large-scale fraud in September involving shipments of scrap metal that it uses to feed its copper smelters, with potential losses running into hundreds of millions of euros ...