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A Study on Current Frauds Trends in the Indian Banking Industry and Its Detection Using Data Mining Algorithms

Mandeep Kaur , ,

Department of Computer Engineering,Modern Group of Colleges.

In the globalized and changed business state of the latest couple of years, we confront an unquestionably growing volume of frauds especially in the financial fragments in India. The Indian cash related organizations division has seen exponential advancement in the latest decade—an improvement that has not been without its snares, as events of distortion have moreover been on the rising. Extortion achieves colossal incidents to the overall public exchequer, as needs are negatively impacting organization transport. Budgetary extortion is a considerable business, adding to a normal 20 billion USD in organize mishaps yearly. Industry authorities assume that this figure is actually extensively higher, as firms can't unequivocally recognize and measure incidents on account of distortion. The most exceedingly horrendous effect of budgetary frauds is on FDI inflows into India. Changes in advancement, cheats have taken shape and modalities of dealing with bad behaviour, passing on logically current procedures for execution. As money related exchanges turn out to be progressively innovation-driven, they appear to have turned into the weapon of decision with regards to fraudsters. In this paper, we share our point of view on the patterns in frauds in the money related part, the changing administrative scene and the courses for misrepresentation aversion and control. This paper thus tends to current misrepresentation inclines in cash pertaining area and instrument of cheats’ recognition through the localisation of information mining endless supply of the examples; including a more massive amount of check/verification to managing an account procedure can be included.

Mandeep Kaur (2018). A Study on Current Frauds Trends in the Indian Banking Industry and Its Detection Using Data Mining Algorithms. International Journal of Computer Engineering In Research Trends, 5(6), 177-186. Retrieved from

Keywords : Financial Frauds, Technology, data mining.

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