TMA Psychology Assignment Sample

Understanding the Psychology of Credit Card Fraud: Insights, Analysis & Strategies for Prevention

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TMA Psychology Assignment Sample

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Part 1: Report

Introduction

The report aims to make a report based on TMA Psychology that helps the school’s Senior Management Team plan the strategies to take in the mentioned situation. In this report, discussion is done on the topic which most people have the conspiracy belief, evasion is done based on various theories and models, and guidance is given to the Senior Management Team of the school to make the people plan to train the teachers to become skilful and critical thinker to make the positive impact of the conspiracy theories among the students. The report also helps the teacher to make the curriculum in such a way that it can become an opportunity for the student to get the educational opportunity for developing and practicing analytical skills.

Why do People Hold Conspiracy Beliefs

As per the letter, it can be found that the teacher has complained that the students age 14- to 18 years have some fascination with conspiracy theory and the teachers of the class are not well-equipped to deal with the situation in the class and it creates a disruption in the class. Biddlestone et al. (2021) opined that the recent theoretical and empirical development suggests that the conspiracy theory arises from frustration with social media. This study describes the reason and teaches us to know why people had the conspiracy theory.

The conspiracy belief is mostly on the internet that covers a huge range of topics (Goldberg and Richey, 2020). Some examples of the conspiracy beliefs that pupils generally have are the landing on the moon by astronauts are fake or the earth is not round, or any news related to any belief in the myths that generally came on social media. The various types of situations lead people to believe in conspiracy theories and they get misled time. It can also help them to develop many of their skillsets too. In the recent Ukraine War, the conspiracy theory that the war was a fake became very viral over social media and its rise the million of engagements of posts within some time (Bbc.com, 2023). The conspiracy theory is the idea that making a group of people work together to complete a goal.

A conspiracy theory can create a negative impact on the students m find and it creates a belief about the facts in their minds (?or?evi? et al.2021). The letter also finds that this is creating a fascination among the school-going children. Therefore, the teachers are advised they need to take this into account . They help them to manage the class and create an opportunity for the students to take the positive parts from the critical beliefs and the teacher needs to play a critical role in this operation.

Evaluation of Different Theories Relating to Conspiracy Beliefs

The conspiracy theory creates a challenge for the class teachers to manage the students properly and it can become very hard for them to manage the distractions they are causing due to the critical responses to the discussion on the topics in the class related to conspiracy beliefs. Salam et al. (2022) define that conspiracy theories can create a means of conflict among various people. The principle of conspiracy can be discussed in various principles, like belief in different corporation theories and conspirators' beliefs that the right are very respectable in a social context.

The conspiracy belief is very consequential and from the lesser, it can be found that the conspirator terrifies the represent in the social platform and creates a direct impact on the young people’s lives. The conspiracy belief seems to have a significant impact on dimensions like interpersonal relations, health, safety and other factors. As per the opinion of Enders et al. (2021) conspiracy beliefs are highly contingent and they create interference among the conspiracy theory beliefs. The conspiracy theory belief creates a negative impact on contraceptives.

Conspiracy theory is universal and, as per the study, it can be found that the teachers are facing issues to managing the critical and different beliefs of the conspiracy theory among the children. A study by Pantazi et al. (2022) defines that the conspiracy of their beliefs is universal and it is necessary for the conflict in democratic governance. Conspiracy theories are emotional and they can affect the mental health of students aged 14- to 18. Therefore, the teacher needs to have the necessary tools to become preventive as a critical thinker in relation to conspiracy theories and beliefs related to those theories managing the children.

Recommendation

As per the letter, it can be found that it is being believed that conspiracy theories can provide an educational opportunity for developing and practicing analytical skills. It is recommended that educators need to check their own biases and beliefs. The educators need to reflect on the information gathered from the media and develop them to present critically in the class. Dyrendal and Jolley, (2020) define that the teachers' need to take deductive tools to become critical thinkers and respond positively toward the class on conspiracy beliefs. Educators need to build resilience on behalf of conspiracy theories that help them to limit the speed of the conspiracy belief in the class, which can be enhanced by good practice. They can follow the "prebunking conspiracy theories" and "debunking conspiracy theories" to become efficient. It can also be recommended to the educator that they need to address the conspiracy theory when they are being raised in the class.

Conclusion

The above study shows that conspiracy theories can create a negative impact on the students' lives if they are not addressed properly. The above study shows that the beliefs are very fascinating in the age group of 14- to 18 years. The study discusses the details of the conspiracy beliefs among the people and the conspiracy theory is also discussed that helps the school’s Senior Management Team a lot. The report also discusses the recommendation for the educator to develop the skillet to become a critical thinker and address the conspiracy theory topic whenever raised in the class critically.

Part B

A Understanding and explaining data

In the evolving era of technology, the entire financial flow and the transactions are transformed into the digital way and the innovation of getting cash from a credit card was considered a boon for people as it helps individuals to get money from any place at any time, as compared to old transactional forms. A credit card holder holds the ability to withdraw money from anywhere at any time. However, this transformation leads to the risk of credit card fraud as thieves are developing new strategies for money theft. The security was delivered by the banks to ensure the safe transaction of customers and to ensure the protection of cash, despite all these frauds being able to cause harm to the innocent public. Fraud calls, e-mails, and OTP are becoming common. People are trapped in diverse forms of scams and lose a amount of money, In most cases, it is seen that the fraud callers are targeting particular individuals; they are used to create fear or trap them with greed. The approach of the frauds is initiated by calling innocent people who are assured by the frauds that they are calling from banks to assure the safety of their credits, they are calling from the bank UK and a credit card is required to resolve the issue as a result they theft their credit. This approach of to fraud increases credit card fraud in the UK. Every day new cases arrive at the banks that the banks are constantly approaching to resolve the issues.

Figure: Fraud detection of credit card

(Source: Cheng et al. 2020)

Strong management is essential to assure the safety of bank details as well as people require more awareness of reading fraud calls. As opined by Sadgali et al. (2020), new technology is required to deliver alter to customers to stop the scam of credit card fraud. Credit card fraud is increasing of stolen or lost credit cards. Without the permission of the owner of the card, the credits are used. The duplicity of credit cards is another concern and it interests the fraud to achieve a higher number of frauds and money theft. As per the observation of Al and Min (2020), the approval of storing the data based on the internet is the biggest concern as the fraud analyzes each detail of the individual from email, and other forms of the online database, as a result of the fraud colleges adequate information to assure the innocent that calling from a reliable bank and wants to pretest them or they are approaching to create a more positive impact on the innocent mind, As opined by Sarvani and Markandeyulu (2021), this approach of playing with the mind and receiving their OTP traps them. And in many cases in the UK it is seen that the approach of fraud is to deliver or create fake credit cards and gather all their information.

Fraud types 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 % Change 19/20

Remote Purchase (CNP) £221.0 £247.3 £301.0 £331.5 £398.4 £432.3 £408.4 £506.4 £470.2 £452.6 -4%

Of which e-commerce £139.6 £140.2 £190.1 £219.1 £261.5 £310.3 £310.4 £394.2 £360.5 £376.5 4%

Counterfeit £36.1 £42.3 £43.3 £47.8 £45.7 £36.9 £24.2 £16.3 £12.8 £8.7 -32%

Lost and stolen £50.1 £55.4 £58.9 £59.7 £74.1 £96.3 £92.9 £95.1 £94.8 £78.9 -17%

Card ID theft £22.5 £32.6 £36.7 £30.0 £38.2 £40.0 £29.8 £47.3 £37.7 £29.7 -21%

Card non-receipt £11.3 £12.8 £10.4 £10.1 £11.7 £12.5 £10.2 £6.3 £5.2 £4.4 -15%

Total £341.0 £390.4 £450.2 £479.0 £568.1 £618.1 £565.4 £671.4 £620.6 £574.2 -7%

Table 1: "Financial costs conveyed of fraudulent credit card transactions of differing types"

The data shows fraud from the year 2011 to 2020 and the use of fraudulent credit cards, id theft is reduced from the year 2011 to 2020. And this adequate data shows that the micrometer purchase from a credit card is increasing from the year 2011 to 2020. As per the observation of Lucas et al. (2019), individuals need to register a complaint regarding lost or stolen cards to ensure the safety of their finances. Individuals require focus on the safety and security of creating cards by assuming a concern that the bank demands vital information over the phone.

Evaluation of research methods

In terms of psychology, an adequate test environment is designed to ensure the education of confusion, fatigue, and distraction to the participants to ensure to delivering the best performance. As opined by Kihlstrom (2021), a measure of the test execution holds the potential to predict manners in real-world surroundings as it helps in enhancing the purposes and ensures a constructive transformation. However, test structures and discoveries in studies indicated lower rates of ecological validity and it is not possible to be generalized to realistic-life positions, those marked by elevated ecological reality can be. As per the observation of Chang et al. (2022), the suitability of ecological reality as a vision, however, has been much disputed, with examining the significance of psychological realism. The adequate application of psychological analysis holds the potential to decrease the financial burden of sickness on governance and organization as people remember how to create choices that enhance their soundness and well-being living. As opined by Cheng et al. (2020) terms of educational estimates assist learners with understanding disabilities. This research helps in understanding the individual in certain ways, such as what they feel, what is their approach to thinking, and their way of acting .As a result, this approach allows them to classify psychological messes to comprehend the signs and crash on the subject and the result benefits the comprehending intimate connections, growth, schools, home, equivalents, and faith affect. Validity is considered the essential test and it is valid to ensure accurate results from the interpretation.

Directed theories endeavoring to trace the connection between special mental constructs and distinct everyday commands involving constructs may enrich the ecological reality of neuropsychological examinations. As opined by Hinojosa et al. (2019), the result of virtual settings is considered as one resolution that permits the investigator to create a potential bridge for mitigating the gap between events appearing in the analysis and those appearing in the absolute world while preserving control on the significant experiment.

Reference

Al Smadi, B. And Min, M., 2020, October. A critical review of credit card fraud detection techniques. In 2020 11th IEEE Annual Ubiquitous Computing, Electronics & Mobile Communication Conference (UEMCON) (pp. 0732-0736). IEEE. DOI: 10.1109/UEMCON51285.2020.9298075

Bbc.com, 2023.Ukraine war: Viral conspiracy theories falsely claim the war is fake.Accessed from:https://www.bbc.com/news/world-europe-64789737[Accessed on: 6.3.2023]

Biddlestone, M., Green, R., Cichocka, A., Sutton, R. and Douglas, K., 2021. Conspiracy beliefs and the individual, relational, and collective selves. Social and Personality Psychology Compass, 15(10), p.e12639. https://doi.org/10.1111/spc3.12639

Chang, M., Büchel, D., Reinecke, K., Lehmann, T. And Baumeister, J., 2022. Ecological validity in exercise neuroscience research: a systematic investigation. European Journal of Neuroscience, 55(2), pp.487-509. Https://doi.org/10.1111/ejn.15595

?or?evi?, J.M., Mari, S., Vdovi?, M. and Miloševi?, A., 2021. Links between conspiracy beliefs, vaccine knowledge, and trust: Anti-vaccine behavior of Serbian adults. Social Science & Medicine, 277, p.113930. https://doi.org/10.1016/j.socscimed.2021.113930

Dyrendal, A. and Jolley, D., 2020. Conspiracy theories in the classroom: Problems and potential solutions. Religions, 11(10), p.494.https://doi.org/10.3390/rel11100494

Enders, A.M., Uscinski, J.E., Klofstad, C.A., Seelig, M.I., Wuchty, S., Murthi, M.N., Premaratne, K. and Funchion, J.R., 2021. Do conspiracy beliefs form a belief system? Examining the structure and organization of conspiracy beliefs. Journal of Social and Political Psychology, 9(1), pp.255-271.https://doi.org/10.5964/jspp.5649

Goldberg, Z.J. and Richey, S., 2020. Anti-vaccination beliefs and unrelated conspiracy theories. World Affairs, 183(2), pp.105-124. https://doi.org/10.1177/0043820020920554

Hinojosa-Marqués, L., Domínguez-Martínez, T., Kwapil, T.R. and Barrantes-Vidal, N., 2019. Ecological validity of expressed emotion in early psychosis. Frontiers in psychiatry, 10, p.854. Https://doi.org/10.3389/fpsyt.2019.00854Cheng, D., Xiang, S., Shang, C., Zhang, Y., Yang, F. And Zhang, L., 2020, April. Spatio-temporal attention-based neural network for credit card fraud detection. In Proceedings of the AAAI conference on artificial intelligence (Vol. 34, No. 01, pp. 362-369). DOI: Https://doi.org/10.1609/aaai.v34i01.5371

Kihlstrom, J.F., 2021. Ecological validity and “ecological validity”. Perspectives on Psychological Science, 16(2), pp.466-471. Https://doi.org/10.1177/1745691620966791

Lucas, Y., Portier, P.E., Laporte, L., Calabretto, S., Caelen, O., He-Guelton, L. And Granitzer, M., 2019, April. Multiple perspectives HMM-based feature engineering for credit card fraud detection. In Proceedings of the 34th ACM/SIGAPP Symposium on Applied Computing (pp. 1359-1361). Https://doi.org/10.1145/3297280.3297586

Pantazi, M., Papaioannou, K. and van Prooijen, J.W., 2022. Power to the people: the hidden link between support for direct democracy and belief in conspiracy theories. Political Psychology, 43(3), pp.529-548. https://doi.org/10.1111/pops.12779

Sadgali, I., Sael, N. And Benabbou, F., 2020. Adaptive model for credit card fraud detection. Https://www.learntechlib.org/p/216557/

Sallam, M., Ghazy, R.M., Al-Salahat, K., Al-Mahzoum, K., AlHadidi, N.M., Eid, H., Kareem, N., Al-Ajlouni, E., Batarseh, R., Ababneh, N.A. and Sallam, M., 2022. The role of psychological factors and vaccine conspiracy beliefs in influenza vaccine hesitancy and uptake among Jordanian healthcare workers during the COVID-19 pandemic. Vaccines, 10(8), p.1355.https://doi.org/10.3390/vaccines10081355

Sarvani, S.L. and Markandeyulu, M., 2021. Artificial intelligence framework for credit card fraud detection using supervised random forest. Open Access International Journal of Science & Engineering, 6. DOI 10.51397/OAIJSE03.2021.00012

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