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01_Training Quantile Method for Fraud Detection

Fraud DetectionKNIME for FinanceBankingCybersecurityAudit & Compliance
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Jan 22, 2025 2:56 PM
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Fraud Detection using the Quantile Method

This workflow uses the Quantile Method to identify fraudulent transactions to check for numeric outliers in credit card data. The quantile method is a type of classification that is well suited to linearly distributed data. We first read in and process the sample data using normalization, then use a quantile-based approach to remove outliers, labeling them as potential fraud. The model's score can be checked at the end through the 'Scorer' node.

The steps we perform are below:
1. Read Training Data
2. Normalize Data and Remove non-outliers
3. Save Models for deployment
4. Mark Outliers and Score Model

External resources

  • Kaggle Dataset
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Used extensions & nodes

Created with KNIME Analytics Platform version 5.4.0
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    KNIME Base nodesTrusted extension

    KNIME AG, Zurich, Switzerland

    Versions 5.2.2, 5.4.0

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    KNIME ExpressionsTrusted extension

    KNIME AG, Zurich, Switzerland

    Version 5.4.0

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    KNIME Statistics NodesTrusted extension

    KNIME AG, Zurich, Switzerland

    Version 5.4.0

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