Credit card fraud detection system using machine learning.
Abstract & Details
Research Area
Computer Engineering
Keywords
Credit card fraud
Applications of machine learning
Waterfall model
Automated fraud detection.
Abstract
— Now a day the usage of credit cards has dramatically increased. As credit card becomes the most popular mode of payment for both online as well as regular purchase, cases of fraud associated with it are also rising. In this paper, we model the sequence of operations in credit card transaction processing using a Hidden Markov Model (HMM) and show how it can be used for the detection of frauds. An HMM is initially trained with the normal behavior of a cardholder. If an incoming credit card transaction is not accepted by the trained HMM with sufficiently high probability, it is considered to be fraudulent. At the same time, we try to ensure that genuine transactions are not rejected. We present detailed experimental results to show the effectiveness of our approach and compare it with other techniques available in the literature.
License
This work is licensed under a Creative
Commons
Attribution-ShareAlike 4.0 International License.
Author Information
| # | Name | Institute / Affiliation |
|---|---|---|
| 1 | Prof.Ashwini Bhapkar, | Sharadchandra Pawar College of Engineering and Technology Someshwar |
| 2 | Shweta Jadhav | Sharadchandra Pawar College of Engineering and Technology Someshwar |
| 3 | Vijeshree Jagtap | Sharadchandra Pawar College of Engineering and Technology Someshwar |
| 4 | Rutuja Jagtap | Sharadchandra Pawar College of Engineering and Technology Someshwar |
How to Cite
Use the following formats to cite this article in your research.
APA Style
Bhapkar,, Prof.Ashwini, Jadhav, Shweta, Jagtap, Vijeshree, & Jagtap, Rutuja (2022). Credit card fraud detection system using machine learning.. International Journal of Advance Research and Innovative Ideas In Education, 8(2), 294-297.
MLA Style
Bhapkar,, Prof.Ashwini, et al. "Credit card fraud detection system using machine learning.." International Journal of Advance Research and Innovative Ideas In Education, vol. 8, no. 2, 2022, pp. 294-297.
IEEE Style
Prof.Ashwini Bhapkar,, Shweta Jadhav, Vijeshree Jagtap, and Rutuja Jagtap, "Credit card fraud detection system using machine learning.," International Journal of Advance Research and Innovative Ideas In Education, vol. 8, no. 2, pp. 294-297, 2022.
Vancouver Style
Bhapkar, Prof.Ashwini, Jadhav Shweta, Jagtap Vijeshree, Jagtap Rutuja. Credit card fraud detection system using machine learning.. International Journal of Advance Research and Innovative Ideas In Education. 2022;8(2):294-297.
Harvard Style
Bhapkar,, Prof.Ashwini, Jadhav, Shweta, Jagtap, Vijeshree, & Jagtap, Rutuja (2022) 'Credit card fraud detection system using machine learning.', International Journal of Advance Research and Innovative Ideas In Education, 8(2), pp. 294-297.
Chicago Style
Bhapkar,, Prof.Ashwini, et al. "Credit card fraud detection system using machine learning.." International Journal of Advance Research and Innovative Ideas In Education 8, no. 2 (2022): 294-297.
Turabian Style
Bhapkar,, Prof.Ashwini, et al. "Credit card fraud detection system using machine learning.." International Journal of Advance Research and Innovative Ideas In Education 8, no. 2 (2022): 294-297.
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