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Learn Challenge: Implement Compliance Flags | Automation and Fraud Detection in Banking
Python for Bankers

bookChallenge: Implement Compliance Flags

Task

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Given a DataFrame of transactions, you need to identify which transactions should be flagged for compliance review. A transaction should be flagged if its amount is greater than $10,000 or if its country is in the provided list of high-risk countries. You must add a new column called compliance_flag to the DataFrame, indicating with True or False whether each transaction is flagged. After updating the DataFrame, print a summary statement showing how many transactions were flagged out of the total.

Conceptual steps:

  • Add a compliance_flag column to the DataFrame.
  • Set compliance_flag to True for transactions where the amount is greater than $10,000 or the country is in the high-risk list.
  • Set compliance_flag to False for all other transactions.
  • Print a summary statement showing the number of flagged transactions and the total number of transactions.

Solution

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SectionΒ 3. ChapterΒ 7
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bookChallenge: Implement Compliance Flags

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Task

Swipe to start coding

Given a DataFrame of transactions, you need to identify which transactions should be flagged for compliance review. A transaction should be flagged if its amount is greater than $10,000 or if its country is in the provided list of high-risk countries. You must add a new column called compliance_flag to the DataFrame, indicating with True or False whether each transaction is flagged. After updating the DataFrame, print a summary statement showing how many transactions were flagged out of the total.

Conceptual steps:

  • Add a compliance_flag column to the DataFrame.
  • Set compliance_flag to True for transactions where the amount is greater than $10,000 or the country is in the high-risk list.
  • Set compliance_flag to False for all other transactions.
  • Print a summary statement showing the number of flagged transactions and the total number of transactions.

Solution

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Everything was clear?

How can we improve it?

Thanks for your feedback!

SectionΒ 3. ChapterΒ 7
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