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Applying Machine Learning And AI In Fraud Detection: A Primer

February 19, 2018

AI

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In the world of financial transactions, rule based heuristics are often employed to detect fraud, rather than to detect anomalies. The cat and mouse chase of financial institutions and fraudsters is an ongoing battle that has cost the global economy close to half a trillion dollars. Given the fundamental shortcomings of rule based heuristics, how does machine learning help in fraud detection?

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