MRC Online Courses

Machine Learning for Fraud Prevention

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In an era when eCommerce is experiencing an accelerated digital transformation, fraud practitioners are increasingly embracing digital tools and solutions to aid in the fight against evolving fraud. In this course, fraud and risk specialists will learn the fundamentals of machine learning (ML) and how they can leverage ML to help identify and prevent fraud in a card-not-present setting

The course is developed by the MRC in partnership with Signifyd and peer-reviewed by the MRC Education Committee.

 

Program Details

  • Program Level: Basic
  • Program Field of Study: Specialized Knowledge
  • Program Delivery Method: QAS Self Study
  • CPE Credits: 2.5
  • Advanced Preparation and/or Pre-requisites: None

 

Objectives

  • Define machine learning
  • Distinguish types of models and their applications in fraud management
  • Compare and contrast the advantages and disadvantages between the traditional approach to fraud fighting and machine learning
  • Convert data into features that a model can use
  • List methods to label transactions as fraudulent or not
  • Deconstruct the components of a model
  • Identify key metrics for evaluating machine learning models
  • Examine common types of drift that can impact a model’s performance
  • Define model scores
  • Differentiate between raw scores and calibrated scores
  • Explain decision thresholds
  • Summarize how thresholds can be combined with rules and manual review to make decisions

The Machine Learning for Fraud Prevention course is priced at US$150 for MRC members (plus applicable taxes). Non-members may take the course at the non-member price of US$300 (plus applicable taxes).

RAPID Edu Accreditation

The Merchant Risk Council is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: nasbaregistry.org

National Registry of CPE Sponsors logo

RAPID Edu Refund Policy

For the RAPID Edu program self-study courses, refunds and cancellations are determined on a case-by-case basis. Cancellations and requests for refunds must be communicated in writing to programs@merchantriskcouncil.org. Refunds will not be issued once a course is started. Additionally, courses must be completed within one year of the course enrollment date.

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