Evaluating a Fraud Detection Using Cost-Sensitive Predictive Analytics

Evaluating a Fraud Detection Using Cost-Sensitive Predictive Analytics

4 A credit card fraud detection algorithm consists in identifying those transactions with a high probability of being fraudulent based on historical fraud patterns. The use of predictive modeling/machine learning in fraud detection has been a topic of interest in recent years. Different detection systems based on machine learning techniques have been successfully used for this problem, including neural networks, Bayesian learning, artificial immune systems, random forest, among others. [Read More]