Can you please recommend good reads on statistical analysis related to online fraud detection and prevention of account abuse?
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1$\begingroup$ i think this goes into the statsexchange forum, not here. $\endgroup$– VytautasJul 1, 2011 at 9:04
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$\begingroup$ I think you should be more specific or this question may well be closed because it's off topic. $\endgroup$– SRKXJul 1, 2011 at 9:05
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$\begingroup$ I'm not sure what fraud prevention has to do with Quantitative Finance. $\endgroup$– chrisaycockJul 2, 2011 at 3:36
1 Answer
Technically, this isn't fraud, but it should be. It's definitely account abuse.
http://articles.latimes.com/2011/apr/03/business/la-fi-amateur-currency-trading-20110403
http://ftalphaville.ft.com/blog/2009/11/02/80866/the-100bn-fx-hustle/
The sad part is, even after being shown this kind of information, I have watched several retail "traders" lose their ass on this crap.
Update (10/11/2013) =============================
No big surprise.
http://www.bloomberg.com/news/2013-10-11/u-s-said-to-open-criminal-probe-of-fx-market-rigging.html
Update (12/19/2013) =============================
Another "no big surprise".