Credit Card Fraud Prevention Quiz

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Questions and Answers

Which type of card fraud is more common nowadays?

  • Card fraud is not common
  • Card-not-present fraud (correct)
  • Both are equally common
  • Card-present fraud

What information is typically stored on a credit card's magnetic stripe?

  • Cardholder's name
  • Card number
  • Expiration date
  • All of the above (correct)

Which techniques are commonly used to detect credit card fraud?

  • Rule induction techniques
  • Decision trees
  • Neural networks
  • All of the above (correct)

Which organization created the Payment Card Industry Data Security Standard (PCI DSS)?

<p>Payment card industry (A)</p> Signup and view all the answers

What is the total amount of unauthorised financial fraud losses across payment cards and remote banking in the United Kingdom in 2018?

<p>£844.8 million (D)</p> Signup and view all the answers

How can credit card fraud be detected and prevented?

<p>Through artificial intelligence and machine learning (D)</p> Signup and view all the answers

Which algorithm helps detect misclassifications in credit card fraud detection by using "neighbor solutions"?

<p>MBO Algorithm (A)</p> Signup and view all the answers

Which programming language is NOT commonly used in machine learning for credit card fraud detection?

<p>Java (D)</p> Signup and view all the answers

What is the term for when a person uses stolen or fake documents to open an account in another person's name?

<p>Application fraud (B)</p> Signup and view all the answers

Which type of fraud involves fraudsters attempting to assume control of a customer's account?

<p>Account takeover (B)</p> Signup and view all the answers

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