Any dataset with unequal distribution between its majority and minority classes can be considered to have class imbalance, and in real-world applications, the severity of class imbalance can vary from minor to severe (high or extreme). A dataset can be considered imbalanced if the classes, e.g., fraud and non-fraud cases, are not equally represented. The majority class makes up most of the dataset, whereas the minority class, with limited dataset representation, is often considered the class of interest. With real-world datasets, class imbalance should be expected. If the degree of class imbalance for the majority class is extreme, then a classifier may yield high overall prediction accuracy since the model is likely predicting most instances as belonging to the majority class. Such a model is not practically useful, since it is often the prediction performance of the class of interest (i.e., minority class) that is more important for the domain experts [1]. He and Garcia [2] suggest that a popular viewpoint held by academic researchers defines imbalanced data as data with a high-class imbalance between its two classes, stating that high-class imbalance is reflected when the majority-to-minority class ratio ranges from