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Fujitsu and LARUS Leverage Power of Graph Database and Graph Explainable AI Technologies to Strengthen Detection of Credit Card Fraud

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KAWASAKI, Japan, Nov 24, 2020 – (JCN Newswire) – Fujitsu Laboratories and LARUS Business Automation S.r.l. (LARUS)(1) have jointly verified that credit card payment fraud can be detected with high accuracy by integrating Deep Tensor(2), an explainable graph AI technology(3) developed by Fujitsu Laboratories into the LARUS platform for graph databases. Fujitsu and LARUS achieved this by linking the LARUS platform for graph databases with Fujitsu’s graph AI technology. Compared with previous, rule-based approaches created manually by data analysts, the fraud detection rate improved from 72% to 89%, while the false detection rate was successfully reduced by 63%.

Figure 1: Verification System Framework
Figure 2: Example of Factor Visualization

Additionally, it was confirmed that the creation of rules for fraud detection could be supported by presenting the decision factors of fraud cases detected with graph AI technology. Going forward, both companies will verify the effectiveness of this technology in other industries with the objective of delivering practical uses for graph databases and graph AI. Detailed results of this verification trial will be demonstrated at the “AI & Big Data Expo Europe 2020” conference, which will be held online from November 23rd, 2020 (Monday) to 24th (Tuesday) Central European Time.

Background

In recent years, there have been growing expectations around the use of graph data in AI applications in various fields and industry verticals, including the analysis of SNS activity history, representation of chemical molecules, financial transactions and tracking of virus infections. Instead of utilizing conventional relational databases(4), storing this kind of real-world relationship into a graph database, which underscores the relationships between underlying data elements, enables expression of data elements relationships directly, thereby enabling advanced analysis and discovery of new insights into real-world scenarios.

In the field of finance, for instance, it’s possible to extract important information utilizing graph databases by analyzing the relationships between transactions. Analysis of individual transactions alone remains insufficient, especially for detecting complex, fraudulent transactions, and all transactions must be analyzed together as a graph structure. For example, in the case of self-financing, a type of fraudulent transaction, even if individual transactions appear normal, when the relationship of the different transactions are analyzed together, circular or loop like patterns may become apparent. Graph databases are well suited for detecting fraud from graph patterns like these loops.

To date, there has been a limit to how much data analysts have been able to create rules for fraudulent trading patterns, and concerns persist around the risk of misidentification and false detection. Consequently, it has become necessary to further streamline graph AI technology.

Overview of the Verification Trial

In this trial, table data containing details of individual transactions was converted into graph data expressing the relationship between different data elements. These were subsequently analyzed by combining the platform for graph databases which LARUS provides with Fujitsu Laboratories’ “Deep Tensor” technology. Fujitsu and LARUS used actual credit card data and POS data and verified the degree of improvement with fraud detection rate or false detection rate by comparing with manually created fraud detection rules. In addition, by utilizing the “explanation of detection with visualization” functionality, which is another important feature of “Deep Tensor,” it was possible to show the reasoning behind the different decisions to the satisfaction of data analysts.

Outcomes

In the verification of credit card transaction data from a payment services provider, fraud detection rates improved from 72% to 89% and the false detection rate was reduced by an average of 63%, when the new graph AI based approach was used in comparison with the conventional manual, rule-based approach. Furthermore, Fujitsu also confirmed that the explanation of detection with visualization was adequate from the viewpoint of the data analyst, making it possible to support the creation of new rules for improved fraud detection. (Figure 2).

Future Plans

In the future, both will additionally verify the technology’s effectiveness with data drawn from different industries, paving the way for the practical use of graph data and graph AI in a broader range of application areas.

(1) LARUS Business Automation S.r.l. Headquarter Italy Venice, Founder, CEO Lorenzo Speranzoni
(2) Deep Tensor An AI technology developed by Fujitsu Laboratories that derives new knowledge from data of a graph structure showing connections between people and things. (October 20, 2016 Press Releases) (https://bit.ly/3nOJJNI)
(3) AI graph technology A technology that maps connections between data elements to help provide context into their relationship.
(4) Relational databases Database stores data in row and column table format.

About Larus

Headquartered in Venice, Italy, LARUS helps companies around the world designing large-scale data-driven platforms based on the latest innovative technologies. As a world-wide top “Premier Solution Partner” of Neo4j, its “Certified Professionals” have been helping universities, institutions and companies succeed with the world’s leading graph database since a decade. LARUS has a wide experience in different domains from government, insurance, financial institutions to manufacturing, retail and telecom with a strong track record and its R&D department works with many universities on several topics from graph data-visualization to graph algorithms and machine learning in order to validate their application to customers’ use cases.

About Fujitsu

Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Approximately 130,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE:6702) reported consolidated revenues of 3.9 trillion yen (US$35 billion) for the fiscal year ended March 31, 2020. For more information, please see www.fujitsu.com.

About Fujitsu Laboratories

Founded in 1968 as a wholly owned subsidiary of Fujitsu Limited, Fujitsu Laboratories Ltd. is one of the premier research centers in the world. With a global network of laboratories in Japan, China, the United States and Europe, the organization conducts a wide range of basic and applied research in the areas of Next-generation Services, Computer Servers, Networks, Electronic Devices and Advanced Materials. For more information, please see: http://www.fujitsu.com/jp/group/labs/en/.

Source: http://www.jcnnewswire.com/pressrelease/62891/3/

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Futuristicx Hybrid Conclave: Driving Customer Experience through Technologies

The Middle East currently is the biggest digital hub with a massive technological transformation taking place. In the past one decade the Middle Eastern market has completely migrated its infrastructure to a digital platform. The current pandemic has enabled a forced acceleration in technological development to better serve the customer and meet their ever-changing expectations. … Continued

The post Futuristicx Hybrid Conclave: Driving Customer Experience through Technologies appeared first on BeInCrypto.

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The Middle East currently is the biggest digital hub with a massive technological transformation taking place. In the past one decade the Middle Eastern market has completely migrated its infrastructure to a digital platform.

The current pandemic has enabled a forced acceleration in technological development to better serve the customer and meet their ever-changing expectations. In today’s time, consumer loyalty has shifted from product and price to customer experience.

It has become imperative for the organization to re-align its strategies to retain the customers. Companies are re-modeling their legacy systems to provide a better customer journey and build tailor made solutions available with a single click for their consumers.

Considering all these parameters in the region, Exibex is proudly announcing the launch of Futuristicx Hybrid Conclave 2021 scheduled on 16th March 2021 on a hybrid platform. Themed on driving customer experience through disruptive technologies, this event will be hosted on-site for a live audience (Conrad Hotel, Dubai) and on a virtual platform simultaneously.

This summit will be focusing on technologies like RPA, Analytics, AI, Blockchain, Robotics, Cloud, and Automations that are being adopted to drive customer excellence in the cross-industry domain.

The aim of the summit is to help the industries learn and share their experiences when it comes to enlightening the path to the right customer journey approach.

Join us at this HYBRID SUMMIT either on site from the comfort of your home/office to indulge yourselves in thought provoking presentations and interactive panel discussions by the industry wizards. Keeping in the consideration of the present market situations, we are bringing one of its kind experiences to reconnect the industry while following necessary norms of your safety.

Futuristicx Hybrid Conclave is a platform created to bring all the stakeholders under one roof yet again and embrace the new normal. This is a stage to better prepare ourselves for the unpredictable future and safeguard our organization from the unknown challenges on our way.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Source: https://beincrypto.com/futuristicx-hybrid-conclave-driving-customer-experience-through-technologies/

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CFX Quantum Token – One Month, Seven Exchanges

CFX Quantum Token – One Month, Seven Exchanges

The Newly Recognized Player in the DeFi Industry Cryptocurrency and Blockchain aficionados dream of debuts like this. It’s fabled: mass adoption and platforms welcoming with open arms. Few ever obtain such widespread appeal and acceptance quite like CFXQ token of CFX Quantum and its service ZEROONE. So far, in one month alone, seven exchanges have […]

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CFX Quantum Token – One Month, Seven Exchanges

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The Newly Recognized Player in the DeFi Industry

Cryptocurrency and Blockchain aficionados dream of debuts like this. It’s fabled: mass adoption and platforms welcoming with open arms. Few ever obtain such widespread appeal and acceptance quite like CFXQ token of CFX Quantum and its service ZEROONE.

So far, in one month alone, seven exchanges have onboarded CFXQ: DIGIFINEX, LATOKEN, P2P, WHITEBIT, XT, COINSBIT, and, of course, their own platform, CFX Quantum Zeroone Wallet. This is proof that the industry is recognizing CFX Quantum as an emerging player in the DeFi industry.

But CFX Quantum and its service ZEROONE have several successes that extend beyond their platform onboarding and applications. There are many strong rumors that CFX is working diligently on a banking services project. Plus, their ZEROONE trials have been quite favorable, leading to even more rumors and expectations for future growth.

So where does that lead us? What is the nature of CFX Quantum and its service ZEROONE, and what does the future hold for a cryptocurrency and blockchain use case poised to make such an impact?

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In design and in practice, CFX Quantum and its service ZEROONE is an exercise in safety and security when trading. It’s no secret that risk is an equal currency to any currency, since risk is tied to any modicum of trading or transaction.

Thus, CFX Quantum and its service ZEROONE has, somehow, achieved the impossible: the ability to make profits at zero risk through an innovative application of arbitrage trading. The method of execution: CFXQ quantum-inspired computing with the Digital Annealer chip from Fujitsu, resulting in ZEROONE.

By staking ZEROONE, any owner can be rewarded with a premium of 1% per month. The Digital Annealer chip offers astounding speeds that create a constant flux of results, so premiums of 1%+ can be achieved with no risk to the capital involved.

While this seems like a dream come true, which owners and traders have been hunting for over a period of decades, if not from the origin of trading itself, the nature of CFX Quantum and its service ZEROONE is little more than an optimization of arbitrage trading. ZEROONE is a stable coin pegged in Euros with assets backed in Crypto, specifically USDT.

Of course, that ‘little more’ difference packs a wallop. A combination of hardware and software, the Fujitsu Digital Annealer chip can calculate immense numbers of outcomes and produce results in real time—even beating CFX’s own expectations and the fastest supercomputers and companies whose entire business model is based on hedging.

While real quantum computing may be years away, still too expensive and inefficient, CFX Quantum and its service ZEROONE, along with the Fujitsu Digital Annealer chip, is a ray of light and breath of fresh air.

Want to see proof? What if you could buy a cryptocurrency on one exchange, and immediately sell it on another exchange for a higher price? The result would be constant growth, would it not? This is where the CFX Quantum and its service ZEROONE stands— the other side of a divide where time dictates how much money can be made within a given transaction.

But does it really come down to the need for speed? No, the methodology employed as much as greater finesse and other minutiae are what empower it to make the right moves at the right speeds to maximize potential. You don’t want to be a bull in a china shop—you want to be a bull that can leverage an entire market.

That’s the power of CFX Quantum and its service ZEROONE.


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DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/cfx-quantum-token-one-month-seven-exchanges/

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Denarius Announces Beta of Kronos Wallet and Private Decentralized Chat

Kronos, a new application beta from the developers of Denarius (D), provides people a way to socialize and transact without a central authority. This new proof of concept takes decentralization, blockchain and privacy to the next level. “Blockchains like Bitcoin and Ethereum have paved the way of innovation for cryptocurrencies and new applications like Denarius (D): Kronos, to bridge the gap for a faster and cheaper way to transact and utilize cryptocurrency.” — James R. (Cryptocurrency User) Kronos, a new application beta from the developers of Denarius (D), provides people a way to socialize and transact without a central authority.

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Kronos, a new application beta from the developers of Denarius (D), provides people a way to socialize and transact without a central authority. This new proof of concept takes decentralization, blockchain and privacy to the next level.

“Blockchains like Bitcoin and Ethereum have paved the way of innovation for cryptocurrencies and new applications like Denarius (D): Kronos, to bridge the gap for a faster and cheaper way to transact and utilize cryptocurrency.” — James R. (Cryptocurrency User)

Kronos, a new application beta from the developers of Denarius (D), provides people a way to socialize and transact without a central authority. This new proof of concept takes decentralization, blockchain, and privacy to the next level. “Users” are able to freely join the Kronos Chat platform, as it is redundantly available due to it using peer-to-peer technology. Kronos has no downtime or possible banning of the platform. Examples of this in current history include, Amazon Web Services (AWS) taking down the Parler app’s platform hosting [1]. Google Play Store and Apple App Store removing the Parler application [2]. Signal App going offline [3]. Whatsapp invasion of privacy [4]…the list goes on.

Kronos is a secure cryptocurrency wallet but also chat reinvented. With the Kronos Chat you can chat and send cryptocurrency across the world in seconds. End-to-end encrypted messages and no storage of your chats, anywhere. Kronos Chat is powered by YOU by leveraging the latest peer-to-peer technologies. Censorship is everywhere and increasing daily. Kronos Wallet allows you to be truly free, with “self-moderation” you finally have the power to choose your own censorship while you socialize. Kronos stores only required data securely and locally, not on an unknown centralized server in the cloud. Kronos supports optional Two Factor Authentication (2FA) and One-time Password (OTP) Yubikey authentication and uses BIP39 technology for your cryptocurrency wallet with the most advanced and leading encryption technologies available today.

Bitcoin was the first cryptocurrency to solve the Byzantine Generals Problem, but transactions are slow. Ethereum created a smart contract platform, but transaction fees are expensive. Denarius stayed true to its roots by forking the original Bitcoin Satoshi code and modified the coin to become a faster and cheaper alternative to Bitcoin. Now Denarius with Kronos changes things. BTC, ETH, and D coins can be sent using the Kronos Wallet with more cryptocurrencies and tokens being added soon, possibly USDC, USDT, Namecoin (NMC), Devault (DVT), Primecoin (XPM), etc. Interplanetary File System (IPFS) integration and file uploading directly inside of the Kronos Chat also allows the user to upload files such as documents, images, and media directly inside of Kronos, ready to be shared via the plethora of IPFS public gateways available.

Cryptocurrency Credits
Bitcoin (BTC) created by Satoshi Nakamoto
Ethereum (ETH) created by Vitalik Buterin
Denarius (D) created by Carsen Klock

For more information
Kronos Wallet: https://kronoswallet.com
Denarius (D): https://denarius.io

BlockForums.org: https://blockforums.org
Bitcoin (BTC): https://bitcoin.org
Ethereum (ETH): https://ethereum.org
IPFS: https://ipfs.io

Sources
1.) https://www.theverge.com/2021/1/11/22223335/parler-amazon-terminates-web-hosting-aws-google-apple-capitol
2.) https://techcrunch.com/2021/01/08/parler-removed-from-google-play-store-as-apple-app-store-suspension-reportedly-looms
3.) https://www.cnet.com/news/signal-operational-again-after-daylong-outage/
4.) https://www.poynter.org/tech-tools/2019/whatsapps-breach-is-proof-that-online-privacy-takes-a-little-work/

Press Contact
marketing@denarius.io

Source: https://themerkle.com/denarius-announces-beta-of-kronos-wallet-and-private-decentralized-chat/

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Joe Biden Names Democratic Allison Herren Lee New SEC Chief

Lee was nominated to the SEC in 2019 to fill the open Democratic spot on the commission once held by Kara Stein.

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President Joe Biden named Allison Herren Lee acting Chairman of the Securities and Exchange Commission (SEC) on Thursday, the agency announced.

Lee was nominated and confirmed to the SEC in 2019 to fill the open Democratic spot on the commission once held by Kara Stein. She succeeds former Chairman Elad Roisman, who was appointed to lead the investment regulator while the agency was heading for transition after Jay Clayton stepped down.

Both Roisman and Lee were nominated by Trump to the US top watchdog, which is legally barred from having any more than three members from either political party.

“It’s an honor to continue my service on the Commission in this new role. I have tremendous respect for my colleagues on the Commission and the exceptional staff across the agency and look forward to working closely with them. Together we will continue the agency’s work of protecting investors and ensuring market integrity,” acting chair Lee said.

Lee specializes in securities law, writing and lecturing around the world about corporate law and financial regulation. She has originally joined the SEC in 2005 and served in various roles for 13 years, mostly as an attorney with the agency’s enforcement arm.

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Additionally, Lee was named counsel to former SEC commissioner, Kara Stein, and then as a senior counsel in the Division of Enforcement’s Complex Financial Instruments Unit.

Her long stint with the government service followed seven years in private practice focusing on antitrust, securities and commercial litigation.

“During my time as Commissioner, I have focused on climate and sustainability, and those issues will continue to be a priority for me,” Lee added.

Lee’s nomination comes as a surprise as many reports suggested Gary Gensler, the former Chief of Commodity Futures Trading Commission, was Biden’s likely pick to lead the SEC. Her prospects of winning confirmation are supported by Democrats winning two Senate run-off elections in Georgia this month.

Names floated to replace the former SEC’s Head, Jay Clayton, included Preet Bharara, Manhattan’s former top federal prosecutor under Obama’s administration whom Trump fired in 2017. Lee was among candidates who could be named interim chair as a new chair is considered.

Source: https://www.financemagnates.com/executives/moves/joe-biden-names-democratic-allison-herren-lee-new-sec-chief/

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