Intelligent Financial Fraud Detection and Analysis: A Survey of Recent Patents

Financial fraud investigation, detection and risk evaluation are essential to either bank (as well as other financial institutions) or business entities. This topic continuously receives significant amount of attention from different stakeholders, including the financial institutions and regulators, investors, researchers, community and merchants. Maximum level of decidability and elimination of uncertainty in fraud likelihood estimation are essential to ensure financial stability, evaluate risk and minimize possible financial loss. Artificial intelligence techniques prove to be efficient solution and worth of attention to any inventor. This paper surveys recent patents related to financial fraud detection, which apply one or more artificial intelligence, machine learning or statistics based techniques, identifies main features of modern intelligent solutions for fraud risk detection and summarizes main trends.