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IBM Watson Projects

You're reading from   IBM Watson Projects Eight exciting projects that put artificial intelligence into practice for optimal business performance

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Product type Paperback
Published in Sep 2018
Publisher Packt
ISBN-13 9781789343717
Length 340 pages
Edition 1st Edition
Languages
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Authors (2):
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Armen Pischdotchian Armen Pischdotchian
Author Profile Icon Armen Pischdotchian
Armen Pischdotchian
James D. Miller James D. Miller
Author Profile Icon James D. Miller
James D. Miller
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Toc

Table of Contents (12) Chapters Close

Preface 1. The Essentials of IBM Watson FREE CHAPTER 2. A Basic Watson Project 3. An Automated Supply Chain Scenario 4. Healthcare Dialoguing 5. Social Media Sentiment Analysis 6. Pattern Recognition and Classification 7. Retail and Personalized Recommendations 8. Integration for Sales Forecasting 9. Anomaly Detection in Banking Using AI 10. What's Next 11. Other Books You May Enjoy

Banking use cases

As we have already mentioned, anomaly detection enjoys a wide range of use cases. However, in this chapter, we have chosen to focus on those relating to the banking industry, and specifically, fraud detection.

Banking-related fraud schemes are typically categorized into areas that include corruption, cash, billing, check tampering, skimming, larceny, and financial statement deception.

Corruption

A Simple example of corruption detection in banks would be identifying transactions that include customers who appear on the US Treasury Department Office of Foreign Asset Control (OFAC) list, or those organizations on the list of uncooperative countries and territories.

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