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Fraud Analytics Using Descriptive, Predictive, and Social Network Techniques: A Guide to Data Science for Fraud Detection Hardcover – 7 August 2015
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Fraud Analytics Using Descriptive, Predictive, and Social Network Techniques is an authoritative guidebook for setting up a comprehensive fraud detection analytics solution. Early detection is a key factor in mitigating fraud damage, but it involves more specialized techniques than detecting fraud at the more advanced stages. This invaluable guide details both the theory and technical aspects of these techniques, and provides expert insight into streamlining implementation. Coverage includes data gathering, preprocessing, model building, and post-implementation, with comprehensive guidance on various learning techniques and the data types utilized by each. These techniques are effective for fraud detection across industry boundaries, including applications in insurance fraud, credit card fraud, anti-money laundering, healthcare fraud, telecommunications fraud, click fraud, tax evasion, and more, giving you a highly practical framework for fraud prevention.
It is estimated that a typical organization loses about 5% of its revenue to fraud every year. More effective fraud detection is possible, and this book describes the various analytical techniques your organization must implement to put a stop to the revenue leak.
- Examine fraud patterns in historical data
- Utilize labeled, unlabeled, and networked data
- Detect fraud before the damage cascades
- Reduce losses, increase recovery, and tighten security
The longer fraud is allowed to go on, the more harm it causes. It expands exponentially, sending ripples of damage throughout the organization, and becomes more and more complex to track, stop, and reverse. Fraud prevention relies on early and effective fraud detection, enabled by the techniques discussed here. Fraud Analytics Using Descriptive, Predictive, and Social Network Techniques helps you stop fraud in its tracks, and eliminate the opportunities for future occurrence.
- ISBN-101119133122
- ISBN-13978-1119133124
- Edition1st
- PublisherWiley
- Publication date7 August 2015
- LanguageEnglish
- Dimensions15.75 x 3.81 x 23.11 cm
- Print length400 pages
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Product description
From the Publisher
BART BAESENS is a full professor at KU Leuven, and a lecturer at the University of Southampton. He has done extensive research on analytics, customer relationship management, web analytics, fraud detection, and credit risk management. He regularly advises and provides consulting support to international firms with respect to their analytics and credit risk management strategy.
VÉRONIQUE VAN VLASSELAER is a PhD researcher in the Department of Decision Sciences and Information Management at KU Leuven. Her research focuses on the development of new techniques for fraud detection by combining predictive and network analytics.
WOUTER VERBEKE is an assistant professor at Vrije Universiteit Brussel (Brussels, Belgium). His research is situated in the field of predictive analytics and complex network analysis with applications in fraud, marketing, credit risk, human resources management, and mobility.
From the Inside Flap
The sooner fraud detection occurs the better as the likelihood of further losses is lower, potential recoveries are higher, and security issues can be addressed more rapidly. Catching fraud in an early stage, though, is more difficult than detecting it later, and requires specific techniques. Packed with numerous real-world examples, Fraud Analytics Using Descriptive, Predictive, and Social Network Techniques authoritatively shows you how to put historical data to work against fraud.
Authors Bart Baesens, Véronique Van Vlasselaer, and Wouter Verbeke expertly discuss the use of unsupervised learning, supervised learning, and social network learning using techniques across a wide variety of fraud applications, such as insurance fraud, credit card fraud, anti-money laundering, healthcare fraud, telecommunications fraud, click fraud, and tax evasion. This book provides the essential guidance you need to examine fraud patterns from historical data in order to detect fraud early in the process.
Providing a clear look at the pivotal role analytics plays in managing fraud, this book includes straightforward guidance on:
- Fraud detection, prevention, and analytics
- Data collection, sampling, and preprocessing
- Descriptive analytics for fraud detection
- Predictive analytics for fraud detection
- Social network analytics for fraud detection
- Post processing of fraud analytics
- Fraud analytics from an economic perspective
Read Fraud Analytics Using Descriptive, Predictive, and Social Network Techniques for a comprehensive overview of fraud detection analytical techniques and implementation guidance for an effective fraud prevention solution that works for your organization.
From the Back Cover
The sooner fraud detection occurs the better―as the likelihood of further losses is lower, potential recoveries are higher, and security issues can be addressed more rapidly. Catching fraud in an early stage, though, is more difficult than detecting it later, and requires specific techniques. Packed with numerous real-world examples, Fraud Analytics Using Descriptive, Predictive, and Social Network Techniques authoritatively shows you how to put historical data to work against fraud.
Authors Bart Baesens, Véronique Van Vlasselaer, and Wouter Verbeke expertly discuss the use of unsupervised learning, supervised learning, and social network learning using techniques across a wide variety of fraud applications, such as insurance fraud, credit card fraud, anti-money laundering, healthcare fraud, telecommunications fraud, click fraud, and tax evasion. This book provides the essential guidance you need to examine fraud patterns from historical data in order to detect fraud early in the process.
Providing a clear look at the pivotal role analytics plays in managing fraud, this book includes straightforward guidance on:
- Fraud detection, prevention, and analytics
- Data collection, sampling, and preprocessing
- Descriptive analytics for fraud detection
- Predictive analytics for fraud detection
- Social network analytics for fraud detection
- Post processing of fraud analytics
- Fraud analytics from an economic perspective
Read Fraud Analytics Using Descriptive, Predictive, and Social Network Techniques for a comprehensive overview of fraud detection analytical techniques and implementation guidance for an effective fraud prevention solution that works for your organization.
About the Author
BART BAESENS is a full professor at KU Leuven, and a lecturer at the University of Southampton. He has done extensive research on analytics, customer relationship management, web analytics, fraud detection, and credit risk management. He regularly advises and provides consulting support to international firms with respect to their analytics and credit risk management strategy.
VÉRONIQUE VAN VLASSELAER is a PhD researcher in the Department of Decision Sciences and Information Management at KU Leuven. Her research focuses on the development of new techniques for fraud detection by combining predictive and network analytics.
WOUTER VERBEKE is an assistant professor at Vrije Universiteit Brussel (Brussels, Belgium). His research is situated in the field of predictive analytics and complex network analysis with applications in fraud, marketing, credit risk, human resources management, and mobility.
Product details
- Publisher : Wiley; 1st edition (7 August 2015)
- Language : English
- Hardcover : 400 pages
- ISBN-10 : 1119133122
- ISBN-13 : 978-1119133124
- Dimensions : 15.75 x 3.81 x 23.11 cm
- Best Sellers Rank: 401,668 in Books (See Top 100 in Books)
- 216 in Database Storage & Design Textbooks
- 254 in Financial Auditing
- 343 in Data Mining
- Customer Reviews:
About the authors

Prof. dr. Bart Baesens is a professor of Big Data and Analytics at KU Leuven (Belgium) and a lecturer at the University of Southampton (United Kingdom). He has done extensive research on Big Data & Analytics, Credit Risk Modeling, Fraud Detection and Marketing Analytics. He has written more than 200 scientific papers, some of which have been published in well-known international journals (e.g., MIS Quarterly, Machine Learning, Management Science, MIT Sloan Management Review and IEEE Transactions on Knowledge and Data Engineering) and presented at top international conferences (e.g., ICIS, KDD, CAISE). He has received various best paper and best speaker awards. Bart is the author of 8 books: Credit Risk Management: Basic Concepts (Oxford University Press, 2009), Analytics in a Big Data World (Wiley, 2014), Beginning Java Programming (Wiley, 2015), Fraud Analytics using Descriptive, Predictive and Social Network Techniques (Wiley, 2015), Credit Risk Analytics (Wiley, 2016), Profit Driven Business Analytics (Wiley, 2017), Web Scraping for Data Science using Python (Apress, 2018) and Principles of Database Management (Cambridge University Press, 2018). He sold more than 20.000 copies of these books worldwide, some of which have been translated in Chinese, Russian, Kazakh and Korean. His research is summarized at www.dataminingapps.com. He also regularly tutors, advises and provides consulting support to international firms regarding their big data, analytics and credit risk management strategy.
He also provides his own ON-LINE learning BlueCourses platform www.bluecourses.com offering courses on Machine Learning, Fraud Analytics, Customer Lifetime Value Modeling, Recommender Systems and Text Analytics.
Next to his professional activities, Bart is obsessed by reading books and visiting sites related to World War I and II. He is espeically fascinated by Winston Churchill. He is also a true soccer fan and loves travelling, international food and wine tasting!
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Wouter Verbeke, Ph.D., is an assistant professor of data analytics and business informatics at Vrije Universiteit Brussel (Belgium). He graduated in 2007 as a Civil civil Engineer engineer and obtained a Ph.D. in applied economics at KU Leuven (Belgium) in 2012. In 2013, he joined VU Brussel were he founded and leads the data analytics laboratory (www.data-lab.be).
His research is mainly situated in the field of predictive, prescriptive, and network analytics, and is driven by real-life business problems, including applications in customer relationship, credit risk, fraud, supply chain, and human resources management. Specifically, his research focuses on taking into account costs and benefits in developing and evaluating business analytics applications. Another key research topic is uplift modeling and prescriptive analytics. Wouter teaches several courses on information systems and advanced modeling for decision making to business students, and provides training to business practitioners on customer analytics, credit risk modeling, and fraud analytics. He has been setting up and carrying out research projects with a range of companies from the financial, ICT, and HR services industry.
His work has been published in established international scientific journals such as IEEE Transactions on Knowledge and Data Engineering, European Journal of Operational Research, and Decision Support Systems. He is also author of the book Fraud Analytics Using Descriptive, Predictive & Social Network Techniques —The essential guide to Data Science for Fraud Detection, published by Wiley in 2015, and the book Profit-Driven Business Analytics, published by Wiley in September 2017. In 2014, he won the distinguished EURO award for best article published in the European Journal of Operational Research in the category “Innovative Applications of O.R.”

Véronique Van Vlasselaer graduated magna cum laude as Master Information Systems Engineer at the faculty of Business and Economics, KU Leuven (Belgium). For her master thesis topic "Mining Data on Twitter", she received the best thesis award from the faculty's student branch.
In October 2012, Véronique started as Ph.D researcher with prof. Bart Baesens at the department of Decision Sciences and Information Management. Her main research topics include social network analysis, fraud detection and net lift modeling.
Customer reviews
Top reviews from other countries
Un chapitre entier sur le social network Analysis (plus ou moins technique).
Je recommande vivement pour les Dataminers qui travaillent sur des problématiques de fraude.
Un niveau basique en statistiques est toutefois recommandée.





