, FOR3705 Assignment 1 (COMPLETE ANSWERS)
Semester 1 2025 - DUE 29 March 2025
QUESTION 1 1.1 Analyse the relationship between data mining
and data analysis in financial crime investigation. (5)
1.2 Assess how these two processes complement each other in
detecting financial crimes. (5) [10]
QUESTION 1
1.1 Analyse the relationship between data mining
and data analysis in financial crime investigation.
(5)
Data mining and data analysis are interrelated
processes used to identify patterns, trends, and
anomalies in financial data to detect and prevent
financial crimes.
Data Mining refers to the process of extracting
useful information from large datasets using
machine learning, statistical techniques, and
algorithms. It helps in uncovering hidden
patterns, relationships, and fraudulent
transactions that may not be evident through
traditional analysis.
Semester 1 2025 - DUE 29 March 2025
QUESTION 1 1.1 Analyse the relationship between data mining
and data analysis in financial crime investigation. (5)
1.2 Assess how these two processes complement each other in
detecting financial crimes. (5) [10]
QUESTION 1
1.1 Analyse the relationship between data mining
and data analysis in financial crime investigation.
(5)
Data mining and data analysis are interrelated
processes used to identify patterns, trends, and
anomalies in financial data to detect and prevent
financial crimes.
Data Mining refers to the process of extracting
useful information from large datasets using
machine learning, statistical techniques, and
algorithms. It helps in uncovering hidden
patterns, relationships, and fraudulent
transactions that may not be evident through
traditional analysis.
