The Scamseek Project - Text Mining for Financial Scams on the Internet

The Scamseek project, as commissioned by ASIC has the principal objective of building an industrially viable system that retrieves potential scam candidate documents from the Internet and classifies them as to their potential risk of containing an illegal investment proposal or advice. The project produced multiple classifiers for different types of data, and achieved higher than expected performance statistics on classifications. The development of the system required the solution of two major problems in document classification, namely accurate identification of classes with very small footprints, <.1%, and classification using meaning intention rather than word strings. The approach taken used Systemic Functional Grammar to model the semantics of the scam classes and used unigrams with significant language preprocessing to assist in separating irrelevant documents. Litigations have been initiated by ASIC from classifications made by the system1 . ASIC operates the system on a 24...

• Type: Conference
• Year: 2006
• Where: AUSDM
• Authors: Jon Patrick
• Keywords: ASIC, AUSDM 2006, Data Mining, Illegal Investment Proposal, Potential Scam Candidate