In fraud detection, most transactions may be genuine. Specificity, also called the true negative rate, is the share of genuine transactions correctly left unflagged: TN / (TN + FP). Unlike precision, it does not change solely because the balance of fraud and genuine cases changes. section 5.2
A low false-positive rate can still mean many bad alerts
Suppose two models each catch 80 of 100 fraud cases among 100,000 genuine transactions. Model A falsely flags 20 genuine transactions; model B flags 920. Their specificities are 99.98% and 99.08%, respectively. Both look high, but only 80 of model B’s 1,000 fraud alerts are correct. Check precision as well when the usefulness of alerts matters. section 5.2





