Outlier detection is a key element for intelligent financial surveillance systems which intend to identify fraud and money laundering by discovering unusual customer behaviour pattern. The detection procedures generally fall into two categories: comparing every transaction against its account history and further more, comparing against a peer group to determine if the behavior is unusual. The later approach shows particular merits in efficiently extracting suspicious transaction and reducing false positive rate. Peer group analysis concept is largely dependent on a cross-datasets outlier detec...
