Credit Card Fraud Detection using Machine Learning

Abstract

Fraudulent transactions using credit card has been a growing concern with far reaching among various such as including government, corporate organizations, finance industry. Internet business is the most helpful answer for grow the client base and accomplish the biggest stage with a little venture. The fast development in the E-Commerce has significantly expanded Visas use for online buys and it actuated blow-up in the Credit card misrepresentation. For both online just as ordinary buy Credit card turned into the most well-known method of instalment, extortion cases associated with it are additionally emerging. The false exchanges are mistaken for certified exchanges and the basic example coordinating methods are not frequently enough to identify those cheats precisely. Effective location misrepresentation framework execution wound up basic to limit their misfortunes for all credit card issuing banks. Present day strategies dependent on Artificial Intelligence, Data mining, Fuzzy rationale, Machine learning, Sequence Alignment, Genetic Programming and so forth., are developed in distinguishing different Visa deceitful exchanges. When credit card transactions become a common mode of payment, machine learning has been based on handling the credit card fraud problem. This paper investigates naïve bayesian, k-nearest neighbor's performance on highly skewed credit card fraud based on genetic and optimization algorithm to determine the fraudulent transaction using credit card. Logistic Regression is a supervised classification technique which returns the probability of binary dependent variable predicted from the independent dataset variable that is logistic regression predicts the probability of different outcomes that have two values either yes or no and false or true. The Proposed System have been applied with genetic and optimization algorithm to find out the fraudualent transaction using credit card.

RPA and AI-Driven Predictive Analytics in Banking for Fraud Detection

“…To address the challenges posed by banking fraud, researchers and practitioners have proposed various solutions leveraging advanced technologies such as artificial intelligence (AI), machine learning (ML), and blockchain. AI and ML algorithms can analyze transaction data to identify patterns and anomalies indicative of fraudulent behavior (Kumar et al, 2019) [12]. Blockchain technology offers enhanced security and transparency by decentralizing and encrypting transaction records, thereby mitigating the risk of tampering and fraud (Nakamoto, 2008) [13].…”

Analysis of Fraud Detection on Credit Cards using Data Mining Techniques

“…not take into account removing or adding any more information; rather, they match the data to the sample size and make the system simple to execute [2]. As opposed to the first two, oversampling entails growing the class size, which eventually results in a reduction in class disparity as proposed by authors in [3].…”

A Hybrid Convolutional Neural Network and Support Vector Machine‐Based Credit Card Fraud Detection Model

“…A credit card is a tiny, thin plastic or fber card with personal information such as a picture or signature that allows the person whose name is on it to charge goods and services to the connected account, with regular debits being made from that account [1]. It is a fnancial product provided by banks with a predetermined credit limit that enables you to conduct purchases without using cash.…”