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Bibliographic Details
Main Author:	Elizabeth Oommen
Format:	Recurso digital
Language:	English
Published:	Zenodo 2025
Online Access:	https://doi.org/10.5281/zenodo.14873761
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Table of Contents:

<div> <p><em><span>F</span></em><em><span>inanc<span>i</span>al<span> </span>fra<span>u</span>d<span> </span>is<span> </span>a s<span>i</span><span>g</span><span>n</span>ificant<span> </span>c<span>o</span>n<span>c</span>ern<span> </span>f<span>o</span>r<span> </span>the<span> </span>Indian<span> </span>ec<span>o</span>no<span>m</span><span>y</span>,<span> </span>with<span> </span>t<span>h</span>e<span> </span>c<span>o</span>unt<span>r</span><span>y</span>'s<span> </span>banki<span>n</span>g sec<span>t</span>or<span> </span><span>r</span>epor<span>t</span>i<span>n</span>g<span> </span><span>f</span>r<span>a</span>uds<span> </span><span>w</span>orth<span> </span>over<span> </span></span></em><em><span>₹</span></em><em><span>1.85<span> </span>la<span>k</span>h<span> </span>cro<span>r</span>e<span> </span>in<span> </span>2020-<span>2</span>1.<span> </span><span>B</span><span>i</span>g<span> </span><span>d</span>ata<span> </span>ana<span>l</span><span>y</span>tics<span> </span><span>h</span>as<span> </span>em<span>er</span><span>g</span><span>e</span>d as<span> </span>a<span> </span>c<span>r</span>i<span>t</span>ic<span>a</span>l<span> </span>t<span>o</span>ol<span> </span>f<span>o</span>r<span> </span>det<span>e</span>cting<span> </span>and<span> p</span>re<span>v</span>enti<span>n</span>g<span> </span>fin<span>a</span>ncial<span> </span>f<span>r</span>a<span>u</span>d.<span> </span>T<span>h</span>e<span> </span>implem<span>e</span>ntation<span> </span>of<span> </span>b<span>i</span>g <span>d</span>ata ana<span>l</span><span>y</span>t<span>i</span>cs<span> </span>within<span> </span><span>I</span>nd<span>i</span><span>a</span><span>'</span>s<span> </span>fi<span>n</span>a<span>n</span>cial<span> </span>sec<span>t</span><span>o</span>r<span> </span>has<span> </span>t<span>h</span>e<span> </span>po<span>t</span>ential<span> </span>to<span> </span><span>y</span>i<span>e</span>ld<span> </span>substantial<span> </span>annual<span> </span>cost<span> </span>savi<span>n</span><span>g</span>s throu<span>g</span>h en<span>h</span>a<span>n</span><span>c</span>ed f<span>r</span>a<span>u</span>d detec<span>t</span>ion and prevention m<span>e</span>c<span>h</span>anisms. This<span> </span>te<span>c</span>hnol<span>o</span><span>g</span>i<span>c</span>al adva<span>n</span><span>c</span>ement<span> </span>s<span>e</span>rves to<span> </span>s<span>a</span>fe<span>g</span><span>u</span>ard<span> </span>both<span> </span>cons<span>u</span>mers<span> </span>a<span>n</span>d<span> </span>busi<span>n</span>e<span>s</span>ses<span> </span><span>w</span>hile<span> </span>sim<span>u</span>ltane<span>o</span>us<span>l</span>y re<span>i</span>nforc<span>i</span><span>n</span>g t<span>h</span>e banki<span>n</span>g<span> </span><span>s</span><span>y</span>stem’s<span> </span>int<span>e</span><span>g</span>ri<span>t</span><span>y</span>.<span> </span>The<span> </span>wide<span>s</span>pread<span> </span>adoption<span> </span>of<span> </span>compre<span>h</span>ensive<span> </span>b<span>i</span><span>g</span>- data<span> </span>s<span>o</span>lutions<span> </span>ac<span>r</span>oss<span> </span>f<span>i</span>n<span>a</span>ncial<span> </span>insti<span>t</span>utions<span> </span>m<span>a</span>y<span> </span>c<span>o</span>ntribute<span> </span>to<span> </span>incre<span>a</span>sed<span> </span>inv<span>e</span>st<span>o</span>r<span> </span>confide<span>n</span>ce<span> </span>a<span>n</span>d promote<span> </span>lon<span>g</span>-t<span>e</span>rm<span> </span>e<span>c</span>o<span>n</span>om<span>i</span>c<span> </span>st<span>a</span>bili<span>t</span>y<span> </span>in<span> </span><span>I</span>ndi<span>a</span>.<span>   </span>This<span> </span>stu<span>d</span>y<span> </span>e<span>x</span>a<span>m</span>i<span>n</span>es<span> </span>the<span> </span>role<span> </span>of<span> </span>b<span>i</span>g<span> </span>data ana<span>l</span><span>y</span>t<span>i</span>cs<span> </span>in<span> </span>de<span>t</span>ec<span>t</span>i<span>n</span>g a<span>n</span>d<span> </span>preventing<span> </span>financ<span>i</span>al<span> </span>f<span>r</span>a<span>u</span>d<span> </span>in<span> </span><span>I</span>nd<span>i</span>a, f<span>o</span>cusing<span> </span><span>o</span>n<span> </span>its<span> </span>applications, bene<span>f</span>it<span>s</span>,<span> </span>a<span>n</span>d<span> </span>c<span>h</span>a<span>l</span>l<span>en</span><span>g</span>e<span>s</span>.<span> </span>This<span> </span>stu<span>d</span>y <span>s</span><span>y</span>stemati<span>c</span>ally<span> </span><span>r</span>evie<span>w</span>s<span> </span>the<span> </span>e<span>x</span>ist<span>i</span>ng<span> </span>litera<span>t</span>u<span>r</span>e<span> </span>to<span> </span>identi<span>f</span>y the k<span>e</span>y<span> </span><span>f</span>e<span>a</span>t<span>ur</span>es<span> </span>of b<span>i</span>g<span> </span><span>da</span>ta a<span>n</span>a<span>l</span><span>y</span>tics that<span> </span>ena<span>b</span>le<span> </span>its use in fina<span>n</span>c<span>i</span>al f<span>r</span>a<span>u</span>d <span>d</span>etec<span>t</span>i<span>o</span>n. The<span> </span>stu<span>d</span>y also<span> </span>identifies<span> </span>the<span> </span>cha<span>l</span>l<span>e</span>n<span>g</span>es<span> </span>associ<span>a</span>ted<span> </span>w<span>i</span>th<span> </span>the<span> </span>use of<span> </span>b<span>i</span>g da<span>t</span>a<span> </span>ana<span>l</span><span>y</span>t<span>i</span><span>c</span>s<span> </span>in<span> </span>financ<span>i</span>al<span> </span>f<span>r</span>a<span>u</span>d dete<span>c</span>t<span>i</span>on<span> </span>a<span>n</span>d<span> </span>provi<span>d</span>es<span> </span>r<span>e</span>c<span>o</span>mm<span>e</span>nda<span>t</span>ions<span> </span>f<span>o</span>r<span> </span>ad<span>dr</span>e<span>s</span>sing t<span>h</span>ese<span> </span>cha<span>l</span>le<span>n</span>ges.<span> </span>The findin<span>g</span>s<span> o</span>f<span> </span>this stu<span>d</span>y<span> </span><span>h</span>ave<span> </span>s<span>i</span><span>g</span>nific<span>a</span>nt<span> </span>implications<span> </span>for<span> </span>or<span>g</span>ani<span>z</span>ations,<span> </span>re<span>g</span>u<span>l</span>a<span>t</span>ors,<span> </span>and<span> </span>poli<span>c</span><span>y</span>make<span>r</span>s<span> </span>se<span>e</span>ki<span>n</span>g<span> </span>to leve<span>r</span><span>a</span>ge big<span> </span><span>d</span>ata ana<span>l</span><span>y</span>t<span>i</span>cs to detect<span> </span>and <span>p</span>r<span>e</span>vent <span>f</span>inancial fraud.<span>             </span></span></em></p> </div>