Related papers: Significant Digits: Using Large-Scale Blockchain D…
The use of cryptocurrencies has led to an increase in illicit activities such as money laundering, with traditional rule-based approaches becoming less effective in detecting and preventing such activities. In this paper, we propose a novel…
The rise in the adoption of blockchain technology has led to increased illegal activities by cyber-criminals costing billions of dollars. Many machine learning algorithms are applied to detect such illegal behavior. These algorithms are…
The advent of blockchain technology has facilitated the widespread adoption of smart contracts in the financial sector. However, current fraud detection methodologies exhibit limitations in capturing both global structural patterns within…
The first six months of 2018 saw cryptocurrency thefts of $761 million, and the technology is also the latest and greatest tool for money laundering. This increase in crime has caused both researchers and law enforcement to look for ways to…
The rise of digital payments has caused consequential changes in the financial crime landscape. As a result, traditional fraud detection approaches such as rule-based systems have largely become ineffective. AI and machine learning…
Frauds severely hurt many kinds of Internet businesses. Group-based fraud detection is a popular methodology to catch fraudsters who unavoidably exhibit synchronized behaviors. We combine both graph-based features (e.g. cluster density) and…
Financial fraud cases are on the rise even with the current technological advancements. Due to the lack of inter-organization synergy and because of privacy concerns, authentic financial transaction data is rarely available. On the other…
Recently, blockchain technology has become a topic in the spotlight but also a hotbed of various cybercrimes. Among them, phishing scams on blockchain have been found making a notable amount of money, thus emerging as a serious threat to…
Benford's law is frequently used to evaluate the likihood that data is misrepresentative. Typically statistical tests measure the likihood. Another method of employing Benford's law is to compare the frequency of leading digits to the…
Money laundering is a global phenomenon with wide-reaching social and economic consequences. Cryptocurrencies are particularly susceptible due to the lack of control by authorities and their anonymity. Thus, it is important to develop new…
Recently we could see several institutions coming together to create consortium based blockchain networks such as Hyperledger. Although for applications of blockchain such as Bitcoin, Litcoin, etc. the majority-attack might not be a great…
In recent years, the unprecedented growth in digital payments fueled consequential changes in fraud and financial crimes. In this new landscape, traditional fraud detection approaches such as rule-based engines have largely become…
Rapid and massive adoption of mobile/ online payment services has brought new challenges to the service providers as well as regulators in safeguarding the proper uses such services/ systems. In this paper, we leverage recent advances in…
The dramatic adoption of Bitcoin and other cryptocurrencies in the USA has revolutionized the financial landscape and provided unprecedented investment and transaction efficiency opportunities. The prime objective of this research project…
Fraud detection problems are usually formulated as a machine learning problem on a graph. Recently, Graph Neural Networks (GNNs) have shown solid performance on fraud detection. The successes of most previous methods heavily rely on rich…
Cryptocurrencies are rapidly expanding and becoming vital in digital financial markets. However, the rise in cryptocurrency-related illicit activities has led to significant losses for users. To protect the security of these platforms, it…
Benford's law states that in data sets from different phenomena leading digits tend to be distributed logarithmically such that the numbers beginning with smaller digits occur more often than those with larger ones. Particularly, the law is…
Bitcoin is by far the most popular crypto-currency solution enabling peer-to-peer payments. Despite some studies highlighting the network does not provide full anonymity, it is still being heavily used for a wide variety of dubious…
The value of a social network is generally determined by its size and the connectivity of its nodes. But since some of the nodes may be fake ones and others that are dormant, the question of validating the node counts by statistical tests…
This paper provides an overview of how crypto currency and blockchain engineering interacts with the law enforcement. We point out that a large proportion of crypto users are amateur investors and the dominant and the largest segment in…