Please note that these seminars are to be held in the
UNIVERSITY OF EDINBURGH MANAGEMENT SCHOOL AND ECONOMICS CREDIT RESEARCH
CENTRE
Friday 3 November 2006, 2.00pm-5.30pm, Lecture Theatre 5, 7 Bristo Square
UNIVERSITY OF EDINBURGH
MANAGEMENT SCHOOL AND ECONOMICS
CREDIT RESEARCH CENTRE
http://www.crc.man.ed.ac.uk
and
SCHOOL OF MATHEMATICS
http://www.maths.ed.ac.uk
SEMINAR SERIES 2006-07
Mining personal banking data to detect fraud
Professor David Hand
Imperial college
ABSTRACT
The development of the personal banking sector over the past few decades
has provided a wealth of opportunities for individuals to obtain credit
and other banking products. But it has also provided a wealth of
opportunities for the dishonest to try to defraud individuals and the
system. I review fraud in the personal banking sector, looking at the
different kinds of fraud, the cost of fraud, and tools and strategies
for detecting and preventing it. The area presents particular
challenges: only about 1 in a 1000 transactions are fraudulent, so
detecting them is like seeking a needle in a haystack; it is an arms
war, in which the fraudsters adapt to detection strategies, so that
constantly evolving strategies are needed; there is typically a delay in
learning which transactions really are fraudulent, and yet urgency of
decisions is vital; and so on. These issues are further compounded by
higher level factors such as the unwillingness of banks to admit to
fraud and a recognition that one has to live with some level of fraud.
Friday 3 November 2006 2.00pm-3.30pm Lecture Theatre 5, 7 Bristo Square
Tea and biscuits from 1.45pm. All welcome.
Further details: Ms Charis Stewart Tel 0131 650 4317,
[log in to unmask]
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Size matters
Professor David Hand
Imperial college
ABSTRACT
The ideas of measurement are so ubiquitous that we often fail to notice
them: they are simply parts of the conceptual universe in which we
function. However, it has not always been thus and sometimes, even now,
rips in this usually unnoticed background fabric appear, casting doubts
on one’s view of the way the world works. Occasionally these tears have
serious, even fatal consequences. This talk looks at the conceptual
infrastructure of quantification, showing how humans have constructed
it, how it can be interpreted, and how it is manipulated to make valid
inferences about the real world. The talk is illustrated with
measurement tools from psychology, medicine, physics, economics and
other areas.
Friday 3 November 2006, 4.00pm-5.30pm Lecture Theatre 5, 7 Bristo Square
Tea and biscuits from 3.30 pm. All welcome.
Further details Colin Aitken, James Clerk Maxwell Building, Room 4605 ,
tel. (0131) 650 4877 ; E-mail: [log in to unmask]
--
School of Mathematics, King’s Buildings, University of Edinburgh,
Mayfield Road, Edinburgh, EH9 3JZ.
Tel: 0131 650 4877
E-mail: [log in to unmask]
Fax : 0131 650 6553
http://www.maths.ed.ac.uk/~cgga
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