Heuristic Rules are experience-based decision-making guidelines that use practical methods or various approaches to identify patterns, solve problems, and make assessments in fraud detection and risk management.
Key Features
- Pattern recognition
- Risk scoring
- Decision trees
- Rule chaining
- Threshold setting
Application Areas
- Fraud detection
- Risk assessment
- Anomaly detection
- Decision making
- Pattern matching
Rule Types
- Behavioral rules
- Transaction rules
- Pattern rules
- Threshold rules
- Combination rules
Implementation
- Rule creation
- Testing process
- Performance monitoring
- Rule updates
- System integration
Best Practices
- Regular updates
- Performance tracking
- Rule validation
- Documentation
- Optimization
Heuristic rules provide flexible and adaptable solutions for fraud detection systems.