Fraud Detection: Cash Payments

Improving Cash Payment Fraud Detection

cash_paymentsIn this study, we discuss the use of data mining as one of the strategies to detect and ultimately deter invoice and other types of payment fraud. Data mining models are used to rank the likelihood that an individual invoice is suspect of being fraudulent. The types of tests applied to the data included the following:
• Invoices from the same vendor but paid to multiple addresses,
• Invoices from the same vendor that were not numbered sequentially on the date submitted, and
• Invoices from multiple vendors paid to the same address.

The objective of this study is to show how data mining approaches can be used to detect invoices that are suspicious and worthy of further review.

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