Literature review: Anomaly detection approaches on digital business financial systems

Abstract

Anomaly detection approaches have become critically important to enhance decision-making systems, especially regarding the process of risk reduction in the economic performance of an organisation and the consumer costs. Previous studies on anomaly detection have examined mainly abnormalities that translate into fraud, such as fraudulent credit card transactions or fraud in insurance systems. However, anomalies represent irregularities in system patterns data, which may arise from deviations, adulterations or inconsistencies. Further, its study encompasses not only fraud, but also any behavioural abnormalities that signal risks. This paper proposes a literature review of methods and techniques to detect anomalies on diverse financial systems using a five-step technique. In our proposed method, we created a classification framework using codes to systematize the main techniques and knowledge on the subject, in addition to identifying research opportunities. Furthermore, the statistical results show several research gaps, among which three main ones should be explored for developing this area: a common database, tests with different dimensional sizes of data and indicators of the detection models' effectiveness. Therefore, the proposed framework is pertinent to comprehending an existing scientific knowledge base and signals important gaps for a research agenda considering the topic of anomalies in financial systems.