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David J. Hand, "Dark Data: Why What You Don't Know Matters" (Princeton UP, 2020)

New Books in Economics

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Evolution of Fraud Detection Technology and the Role of Dark Data

Chapter six explores the constant innovation by fraudsters to bypass prevention measures, leading to advancements in fraud detection technology. The conversation delves into the concept of dark data in fraud detection and scientific discovery, highlighting how both fraudsters and legitimate entities utilize it. The chapter also discusses the application of Benford's Law as a tool to detect anomalies in financial transactions and other data sets.

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