Machine Learning and Big Data Know It Wasn’t You Who Just Swiped Your Credit Card

ABSTRACT:
You’re sitting at home minding your own business when you get a call from your credit card’s fraud detection unit asking if you’ve just made a purchase at a department store in your city. It wasn’t you who bought expensive electronics using your credit card — in fact, it’s been in your pocket all afternoon. So how did the bank know to flag this single purchase as most likely fraudulent?

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