Rule Hits & a Weighted Risk Score: Approve, Review or Decline
This lesson is part of the course
In this lesson
You turn five fraud rules into a 0/1 hit matrix, weight the hits into one risk score with SUMPRODUCT and route each attempt to Approve, Review or Decline.
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Lessons in this course
- Transaction Features: Amount vs Card Average, New Device & Country Mismatch Locked
- Velocity Checks: Attempts and Amounts per Card in Rolling 24-Hour and 1-Hour Windows Locked
- Rule Hits & a Weighted Risk Score: Approve, Review or Decline Locked
- Choosing the Alert Threshold: Precision, Recall and Dollar Recall against Labelled Fraud Locked
- Alert Volume vs Analyst Capacity: Staffing, the Lowest Workable Threshold and a Sale-Day Backlog Locked
- False-Positive Cost vs Fraud Loss Prevented: the Net-Benefit Threshold (with a Chart) Locked
- Rule Performance Table: Hit Rate, Precision and Fraud Share per Rule (with a Chart) Locked
- Champion vs Challenger: Shadow-Testing a New Rule Set Before It Goes Live Locked