Fraud Detection Using Descriptive, Predictive, and Social Network Analytics

  • Tuition USD $1,700 GSA  $1,541.56
  • Reviews star_rate star_rate star_rate star_rate star_half 1076 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, healthcare institutions, and consulting firms

Prerequisites

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

Course Details

Introduction

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.

Ruben was very energetic in presenting the course material which kept our attention. Thanks!

Good course that covers all aspects of DB2. Gives very good starting point to enable anyone to work efficiently within DB2 environment.

thorough course covering materials needed to understand aws, architecture, and their interactions. Labs helped

Setup for the training was easy and participants were mostly provided with the necessary things for continued learning, however, a couple people in my class dealt with technical issues with their virtual machines in the virtual training.

I ended up taking an iMVP class; I was originally skeptical, as other online classes have had issues, but ExitCertified puts a little more effort into this, including making sure you have a good headset and camera to keep the classes more interactive, and they also provide better back-office support to their trainers than other vendors. I do recommend the iMVP over the classroom.

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