17.4 - Case Study 2: Fraud Detection in Banking
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Practice Questions
Test your understanding with targeted questions
What is the goal of fraud detection in banking?
💡 Hint: Think about what fraud can lead to for banks and customers.
What is a false positive in fraud detection?
💡 Hint: Read the definition in the glossary.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What is the primary goal of fraud detection in banking?
💡 Hint: Think about the consequence of not detecting fraud.
True or False: Real-time processing is essential to prevent losses from fraud.
💡 Hint: Consider how quickly fraud can escalate.
2 more questions available
Challenge Problems
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Design a basic outline for a fraud detection system incorporating the techniques discussed. What specific features would you include?
💡 Hint: Think about the whole workflow from transaction capture to fraud detection.
Propose a strategy for reducing false positives in a fraud detection system without compromising detection rates.
💡 Hint: Consider how ensemble methods work together to capture different aspects of data.
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