Challenges in fraud analytics
The ACFE, or Association of Certified Fraud Examiners, estimates that an average organisation loses 5% of its revenue to fraud each year. Baesens discusses the challenges for analytics in the fight against fraud, such as skewed class distributions, anomaly detection, cost-sensitive methods, feature engineering and network analysis. He illustrates this with credit card and insurance fraud.
Teacher / speaker
Bart Baesens
Professor Bart Baesens is a professor of Big Data & Analytics at KU Leuven (Belgium), and a lecturer at the University of Southampton (United Kingdom). He has done extensive research on big data & analytics, AI, credit risk modeling, fraud detection, and marketing analytics. He co-authored more than 250 scientific papers and 10 books some of which have been translated into Chinese, Japanese, Korean, Russian and Kazakh, and sold more than 40,000 copies of these books
world-wide. Bart received the OR Society’s Goodeve medal for best JORS paper in 2016 and the EURO 2014 and EURO 2017 award for best EJOR paper. His research is summarized at www.dataminingapps.com. He also regularly tutors, advises and provides consulting support to international firms with respect to their analytics and credit risk management strategy. Bart is listed in the top 2% of Stanford University's new Database of Top Scientists in the World. He was also named one of the World's top educators in Data Science by CDO magazine
in 2021 and 2023. Bart has educated tens of thousands of data scientists across the globe in the fields of analytics, credit risk, fraud, marketing, ICT and others. Bart also has his own ON-LINE learning BlueCourses platform: www.bluecourses.com which features courses on machine learning, credit risk, fraud, marketing, text analytics, deep learning, web scraping etc.
In memoriam Bart Baesens
With great sadness, VAIA learned of the passing of Prof. Bart Baesens in August 2025.
Bart was a passionate lecturer and expert who had a remarkable talent for making complex knowledge accessible. His online courses remain valuable and relevant, and will stay listed on vaia.be as a lasting tribute to his work and his impact on AI education.
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