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abstract

Real-time risk control system for CNP (card not present)

Published: 21 August 2011 Publication History

Abstract

AliExpress is an online e-commerce platform for wholesale products. Credit card is one of its various payment methods. An online transaction using credit cards is called a "card not present" (CNP) transaction where the physical card has not been swiped into a reader. It's also the major type of credit card frauds causing a great overhead of the online operation, sellers, and buyers. To protect customers on our platform, we developed a real-time credit card fraud detection system, using the machine learning technologies which allows us to achieve a precision of 97%, at a recall of 80%. With the system, we can provide the best online shopping experience for our customers, without the high risk of online transactions which always result a high operational cost. We will briefly share our experience and practice in the expo.

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  1. Real-time risk control system for CNP (card not present)

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    cover image ACM Conferences
    KDD '11: Proceedings of the 17th ACM SIGKDD international conference on Knowledge discovery and data mining
    August 2011
    1446 pages
    ISBN:9781450308137
    DOI:10.1145/2020408

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    Association for Computing Machinery

    New York, NY, United States

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    Published: 21 August 2011

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    1. data mining in e-commerce
    2. financial risk modeling.
    3. fraud detection

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