<ul><li>Fraud detection is a challenging domain in machine learning, as fraudsters constantly find new ways to bypass models.</li><li>The goal of fraud detection systems is to block fraudulent transactions while maintaining a smooth shopping experience for genuine customers.</li><li>False negatives result in monetary loss, while false positives lead to poor customer experience and churn.</li><li>Given the high volume of orders processed by e-commerce providers and the low fraud rates, fraud detection becomes a needle-in-a-haystack problem.</li></ul>

Machine Learning in Fraud Detection: A Primer

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