Data Mining Approach In Financial Fraud Detection and a Literature Review

ESEN M. F.

ESKISEHIR OSMANGAZI UNIVERSITESI IIBF DERGISI-ESKISEHIR OSMANGAZI UNIVERSITY JOURNAL OF ECONOMICS AND ADMINISTRATIVE SCIENCES, vol.11, no.2, pp.93-118, 2016 (Journal Indexed in ESCI) identifier

  • Publication Type: Article / Review
  • Volume: 11 Issue: 2
  • Publication Date: 2016
  • Title of Journal : ESKISEHIR OSMANGAZI UNIVERSITESI IIBF DERGISI-ESKISEHIR OSMANGAZI UNIVERSITY JOURNAL OF ECONOMICS AND ADMINISTRATIVE SCIENCES
  • Page Numbers: pp.93-118

Abstract

Only in USA Stock Exchanges, daily avarage trading volume is about 7 billion units. Just depending on this statistics, the necessity of information discovery hidden in data is a reality to tackle the problems in strategic, tactical and operational decision processes with lower costs and higher reliability. Information discovery from databases, namely, data mining is an effective method for auditing financial statements in companies and providing flow of information between market players as well as risk and portfolio management as banking applications.