Fraud Detection using Machine Learning
Last Updated on July 26, 2023 by Editorial Team
Author(s): Dennis Niggl
Originally published on Towards AI.
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“Humans are startlingly bad at detecting fraud. Even when we’re on the lookout for signs of deception, studies show, our accuracy is hardly better than chance”.
— Maria Konnikova
Photo by RODNAE Productions on Pexels
More companies and consumers are moving to online and contactless forms of payment all the time. Millions of Americans have fallen victim to credit card fraud that ends up costing them thousands of dollars and has a negative impact on their credit scores. The Wall Street Journal reported that fraud losses, including losses linked to credit and… Read the full blog for free on Medium.
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