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Review Papers | Information Security | Volume 12 Issue 6, June 2023 | Pages: 3027 - 3036 | United States
First-Party Fraud in Digital Lending Platforms: New Risks and Control Gaps
Abstract: Intentional first-party fraud has become a deeply rooted threat in digital lending ecosystems, as borrowers deliberately misrepresent their identity, income, or repayment intent while keeping the nominal account holder. This review synthesizes interdisciplinary research from data science, financial criminology, and platform governance to examine the manifestation of first-party fraud in contemporary digital lending and the ineffectiveness of established regulations. The research critically evaluates data sources, analytical techniques, and operational constraints associated with large-scale fraud detection, utilizing peer-reviewed articles published prior to 2024. It is important to understand how big data infrastructures and machine learning technologies are for identifying intent-based fraud and also the issues they can cause. This review is about the current control problem in which analytics, policy, and platform designs merge. Prediction of accuracy is not sufficient without proper safeguards and institutional alignment. Those who work in risk management and fintech control are supposed to use them to make a decision.
Keywords: First-party fraud, digital lending, big data analytics, algorithms for finding fraud, and managing financial risk
How to Cite?: Ajay Punia, "First-Party Fraud in Digital Lending Platforms: New Risks and Control Gaps", Volume 12 Issue 6, June 2023, International Journal of Science and Research (IJSR), Pages: 3027-3036, https://www.ijsr.net/getabstract.php?paperid=SR23625090000, DOI: https://dx.dx.doi.org/10.21275/SR23625090000