Alton, Hampshire, 6 Aug 2021, ZEXPRWIRE, Tungate pride itself being industry leaders in the use of AI in the prevention, detection and investigation of fraud online for both individuals and corporate clients. And produce to introduce the system for betterment of the people.
Recently, however, there has been so much hype around the use of AI and machine learning in fraud detection that it has been difficult for many to distinguish myth from reality. At times, you might come to the conclusion that AI and machine learning have just been invented, or just been applied to payments fraud for the first time!
Because organized crime schemes are so sophisticated and quick to adapt, defense strategies based on any single, one-size-fits-all analytic technique will produce sub-par results. Each use case should be supported by expertly crafted anomaly detection techniques that are optimal for the problem at hand. As a result, both supervised and unsupervised models play important roles in fraud detection and must be woven into comprehensive, next- generation fraud strategies.
A supervised model, the most common form of machine learning across all disciplines, is a model that is trained on a rich set of properly “tagged” transactions. Each transaction is tagged as either fraud or non-fraud. The models are trained by ingesting massive amounts of tagged transaction details in order to learn patterns that best reflect legitimate behaviors. When developing a supervised model, the amount of clean, relevant training data is directly correlated with model accuracy.
Unsupervised models are designed to spot anomalous behavior in cases where tagged transaction data is relatively thin or non-existent. In these cases, a form of self-learning must be employed to surface patterns in the data that are invisible to other forms of analytics.
Why we have such a high success rate in times where more people are stuck to their computers than ever before is our ability to integrate the latest artificial intelligence and create strategic partnerships with state police and governments around the world.
Company: TUNGATE CAPITAL PLC
Contact Name: TUNGATE
Address: 16 Riverside Omega Park, Alton, Hampshire, GU34 2UF, UK
E-mail: [email protected]