The Evolution of Fraud Detection Systems

Stripe CEO: If labels themselves of whether a payment was fraudulent or not are not accurate, then your model itself and its performance will not reach its true potential. "Friendly fraud" is the idea that you yourself are a fraudster, but you're going to make a payment with your own credit card, and then claim you didn't make that payment. Stripe's systems up until this point have all been focused at trying to detect when someone else is using the credit card that isn't authorized to make the payment.

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