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Financial Forensics · End Term · 24 Dec 2023 · September 2023 term · Set ADB3

Question 13: Which of the following is not True about using rules for…

Question 13

+1 markOne correct option

Which of the following is not True about using rules for Fraud Detection in the world of FinTech:

  1. A

    Rules can only be used for catching frauds that satisfy a set of per-computed scenarios.

  2. B

    Rules can adapt very well to the changing fraud environment automatically.

  3. C

    Creating rules for detecting frauds is a very time-consuming process.

  4. D

    Rules do not scale well to capture wide range of fraud patterns.

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Correct answer

  • B

    Rules can adapt very well to the changing fraud environment automatically.

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Question 13 of 42 in the IIT Madras BS Financial Forensics (Financial Forensics) End Term paper sat on 24 Dec 2023, in the September 2023 term (IIT M DEGREE FN EXAM FDB1 24 Dec 2023). It carries 1 mark.

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