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Fraud Detection Using Descriptive, Predictive, and Social Network Analytics

  • Tuition USD $1,800 GSA  $1,541.56
  • Reviews star_rate star_rate star_rate star_rate star_half 4733 Ratings
  • Course Code BFRSUSN
  • Duration 2 days
  • Available Formats Classroom

A typical organization loses an estimated 5 of its yearly revenue to fraud. This course shows how learning fraud patterns from historical data can be used to fight fraud. The course discusses the use of supervised learning (using a labeled data set), unsupervised learning (using an unlabeled data set), and social network learning (using a networked data set). The techniques can be applied across a wide variety of fraud applications, such as insurance fraud, credit card fraud, anti-money laundering, healthcare fraud, telecommunications fraud, click fraud, tax evasion, and counterfeiting. The course provides a mix of both theoretical and technical insights, as well as practical implementation details. During the course, the instructor reports extensively on his recent research insights about the topic. Various real-life case studies and examples are presented for further clarification.

Skills Gained

  • Preprocess data for fraud detection (sampling, missing values, outliers, categorization, and so on).
  • Build fraud detection models using supervised analytics (logistic regression, decision trees, neural networks, ensemble models, and so on).
  • Build fraud detection models using unsupervised analytics (hierarchical clustering, non-hierarchical clustering, k-means, self organizing maps, and so on).
  • Build fraud detection models using social network analytics (homophily, featurization, egonets, PageRank, bigraphs, and so on).

Who Can Benefit

  • Fraud analysts, data miners, and data scientists; consultants working in fraud detection; validators auditing fraud models; and researchers in financial services companies, banks, insurance companies, government institutions, health-care institutions, and consulting firms


  • Before attending this course, you should have a basic knowledge of statistics, including descriptive statistics, confidence intervals, and hypothesis testing.

Course Details


Fraud Detection

  • The importance of fraud detection.
  • Defining fraud.
  • Anomalous behavior.
  • Fraud cycle.
  • Types of fraud.
  • Examples of insurance fraud and credit card fraud.
  • Key characteristics of successful fraud analytics models.
  • Fraud detection challenges.
  • Approaches to fraud detection.

Data Preprocessing

  • Motivation.
  • Types of variables.
  • Sampling.
  • Visual data exploration.
  • Missing values.
  • Outlier detection and treatment.
  • Standardizing data.
  • Transforming data.
  • Coarse classification and grouping of attributes.
  • Recoding categorical variables.
  • Segmentation.
  • Variable selection.

Supervised Methods for Fraud Detection

  • Target definition.
  • Linear regression.
  • Logistic regression.
  • Decision trees.
  • Ensemble methods: bagging, boosting, random forests.
  • Neural networks.
  • Dealing with skewed class distributions.
  • Evaluating fraud detection models.

Unsupervised Methods for Fraud Detection

  • Unsupervised learning.
  • Clustering approaches: hierarchical clustering, k-means clustering, self-organizing maps.
  • Peer group analysis.
  • Break point analysis.

Social Networks for Fraud Detection

  • Social networks and applications.
  • Is fraud a social phenomenon?
  • Social network components.
  • Visualizing social networks.
  • Social network metrics.
  • Community mining.
  • Social-network-based inference (network classifiers and collective inference).
  • From unipartite toward bipartite graphs.
  • Featurizing a bigraph.
  • Fraud propagation.
  • Case study.

Fraud Analytics: Putting It All to Work

  • Quantitative monitoring: backtesting, benchmarking.
  • Qualitative monitoring: data quality, model design, documentation, corporate governance.

When does class start/end?

Classes begin promptly at 9:00 am, and typically end at 5:00 pm.

Does the course schedule include a Lunchbreak?

Lunch is normally an hour long and begins at noon. Coffee, tea, hot chocolate and juice are available all day in the kitchen. Fruit, muffins and bagels are served each morning. There are numerous restaurants near each of our centers, and some popular ones are indicated on the Area Map in the Student Welcome Handbooks - these can be picked up in the lobby or requested from one of our ExitCertified staff.

How can someone reach me during class?

If someone should need to contact you while you are in class, please have them call the center telephone number and leave a message with the receptionist.

What languages are used to deliver training?

Most courses are conducted in English, unless otherwise specified. Some courses will have the word "FRENCH" marked in red beside the scheduled date(s) indicating the language of instruction.

What does GTR stand for?

GTR stands for Guaranteed to Run; if you see a course with this status, it means this event is confirmed to run. View our GTR page to see our full list of Guaranteed to Run courses.

Does ExitCertified deliver group training?

Yes, we provide training for groups, individuals and private on sites. View our group training page for more information.

Does ExitCertified deliver group training?

Yes, we provide training for groups, individuals, and private on sites. View our group training page for more information.

What does vendor-authorized training mean?

As a vendor-authorized training partner, we offer a curriculum that our partners have vetted. We use the same course materials and facilitate the same labs as our vendor-delivered training. These courses are considered the gold standard and, as such, are priced accordingly.

Is the training too basic, or will you go deep into technology?

It depends on your requirements, your role in your company, and your depth of knowledge. The good news about many of our learning paths, you can start from the fundamentals to highly specialized training.

How up-to-date are your courses and support materials?

We continuously work with our vendors to evaluate and refresh course material to reflect the latest training courses and best practices.

Are your instructors seasoned trainers who have deep knowledge of the training topic?

ExitCertified instructors have an average of 27 years of practical IT experience. They have also served as consultants for an average of 15 years. To stay up to date, instructors will at least spend 25 percent of their time learning new emerging technologies and courses.

Do you provide hands-on training and exercises in an actual lab environment?

Lab access is dependent on the vendor and the type of training you sign up for. However, many of our top vendors will provide lab access to students to test and practice. The course description will specify lab access.

Will you customize the training for our company’s specific needs and goals?

We will work with you to identify training needs and areas of growth.  We offer a variety of training methods, such as private group training, on-site of your choice, and virtually. We provide courses and certifications that are aligned with your business goals.

How do I get started with certification?

Getting started on a certification pathway depends on your goals and the vendor you choose to get certified in. Many vendors offer entry-level IT certification to advanced IT certification that can boost your career. To get access to certification vouchers and discounts, please contact Edu_customerexperience@techdata.com

Will I get access to content after I complete a course?

You will get access to the PDF of course books and guides, but access to the recording and slides will depend on the vendor and type of training you receive.

This was a good program to get prepared for the solutions architect associate exam.

The class covered the concepts needed for the AWS Cloud Practitioner Certification.

Simply great training provider that I can go for updating/acquiring my skill sets.

I was very satisfied about how the course was organized. Sean Did a very good work

it was good and very informative. Instructure covered everything in detail.

0 options available

There are currently no scheduled dates for this course. If you are interested in this course, request a course date with the links above. We can also contact you when the course is scheduled in your area.

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