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Article
Publication date: 11 May 2020

Vipin Khattri, Sandeep Kumar Nayak and Deepak Kumar Singh

Currency usage either in the physical or electronic marketplace through chip-based or magnetic strip-based plastic card becoming the vulnerable point for the handlers. Proper…

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Abstract

Purpose

Currency usage either in the physical or electronic marketplace through chip-based or magnetic strip-based plastic card becoming the vulnerable point for the handlers. Proper education and awareness can only thrive when concrete fraud detection techniques are being suggested together with potential mitigation possibilities. The purpose of this research study is tendering in the same direction with a suitable plan of action in developing the authentication strength metric to give weightage marks for authentication techniques.

Design/methodology/approach

In this research study, a qualitative in-depth exploration approach is being adapted for a better description, interpretation, conceptualization for attaining exhaustive insights into specific notions. A concrete method of observation is being adopted to study various time boxed reports on plastic card fraud and its possible impacts. Content and narrative analysis are being followed to interpret more qualitative and less quantitative story about existing fraud detection techniques. Moreover, an authentication strength metric is being developed on the basis of time, cost and human interactions.

Findings

The archived data narrated in various published research articles represent the local and global environment and the need for plastic card money. It gives the breathing sense and capabilities in the marketplace. The authentication strength metric gives a supporting hand for more solidification of the authentication technique with respect to the time, cost and human ease.

Practical implications

The research study is well controlled and sufficient interpretive. The empirical representation of authentication technique and fraud detection technique identification and suggestive mitigation gives this research study an implication view for the imbibing research youths. An application and metric based pathway of this research study provides a smoother way to tackle futuristic issues and challenges.

Originality/value

This research study represents comprehensive knowledge about the causes of the notion of plastic card fraud. The authentication strength metric represents the novelty of a research study which produced on the basis of rigorous documentary and classified research analysis. The creativity of the research study is rendering the profound and thoughtful reflection of the novel dimension in the same domain.

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Article
Publication date: 2 July 2018

Vipin Khattri and Deepak Kumar Singh

This paper aims to provide information of parameters and techniques used in the automated fraud detection system during online transaction. With the increase in the use of online…

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Abstract

Purpose

This paper aims to provide information of parameters and techniques used in the automated fraud detection system during online transaction. With the increase in the use of online transactions, the concerns regarding data security have also increased. To tackle the frauds, lot of research has been done and plethora of papers are available on the related topics. The purpose of this paper is to provide the clear pathway for researchers to move in the direction of development of automated fraud detection system to prevent the fraud during online transaction.

Design/methodology/approach

This literature review analyses and compares the different types of techniques for detecting fraud during online transaction. An in-depth study of the most prominent journals has been done and the core methodology of the papers has been presented. This article also shed some light on different types of parameters used in fraud detection techniques during online transaction.

Findings

There are vast varieties of various fraud detection techniques, and every technique has completed task in its own way. After studying approximately 41 research papers, 14 books and four reports, in total 30 parameters have been identified and a detailed study of the parameters has been presented. The parameters are also listed with their details that how these parameters are used in the security system for detecting online transaction fraud.

Research limitations/implications

This paper provides empirical insight about the parameters and their prominence in the development of automated fraud detection security system of online transaction. This paper encourages the researchers to development of improved fraud detection system.

Practical implications

This paper will pave the way for researchers to do a focused research on the fraud detection methodologies. The analysis will help in zeroing down the most prevalent topic of research in this field. The researchers will be able to understand the internal details of parameters and techniques used in the fraud detection systems. This literature also helps the research to think in a variety of ways that how these parameters will be used in the development of fraud detection system.

Originality/value

This paper is one of the most comprehensive reviews in its field. It tries and attempts to fill a void created because of lack of compilation of the laid fraud detection parameters.

Details

Journal of Financial Crime, vol. 25 no. 3
Type: Research Article
ISSN: 1359-0790

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