Fraud is an expensive and complicated problem that requires constant attention. Tactics change rapidly and businesses need to keep up. As crimes become more sophisticated, so too must data analysts' tools.
Effective fraud protection needs to show connections – between people, accounts, transactions, and dates. Link analysis provides an effective solution.
When detecting fraud, analysts look for two types: known and unknown. Known fraud is fraudulent activity that's been encountered before, whereas unknown fraud hasn't been previously encountered.