Detecting and Preventing Fraud in Financial Transactions: A Case Study on Big Data Analysis at Kareem Exchange Company

Abstract

This chapter focuses on a case study of Kareem Exchange Company and its use of big data analysis to detect and prevent fraud and suspicious financial transactions. The chapter describes the various phases of the big data analysis cycle, including discovery, data preparation, model planning, model building, operationalization, and communicating results, and how the Kareem Exchange Company team implemented each phase. This chapter emphasizes the importance of identifying the business problem, understanding the resources and stakeholders involved, and developing an initial hypothesis to guide the analysis. The case study results demonstrate the potential of big data analysis to improve fraud detection capabilities in financial institutions, leading to informed decision making and action.

Citation

Ali, S.A., Allaymoun, M.H., Al Astal, A.Y.M. and Saleh, R. (2024), "Detecting and Preventing Fraud in Financial Transactions: A Case Study on Big Data Analysis at Kareem Exchange Company", Hamdan, A., Alareeni, B. and Khamis, R. (Ed.) Digital Technology and Changing Roles in Managerial and Financial Accounting: Theoretical Knowledge and Practical Application (Studies in Managerial and Financial Accounting, Vol. 36), Emerald Publishing Limited, Leeds, pp. 305-317. https://doi.org/10.1108/S1479-351220240000036028