CREDIT CARD FRAUD

INFORMATION TECHNOLOGY

Credit card plays a very important role in today’s economy. Although using credit cards provides enormous benefits when used carefully and responsibly, significant credit and financial damages may be caused by fraudulent activities. Credit card fraud detection is when a business takes steps to prevent stolen money, products, or service obtained via an illegitimate credit card transaction. Credit card fraud can happen both by the cardholder themselves or by someone else. Due to the increase in electronic payments, the risk for credit card fraud is turning into a substantial challenge for financial institutions and service providers, which is forcing them to continuously improve their fraud detection systems. The credit card fraud detection problem includes modelling past credit card transaction with data of the ones that turned out to be fraud. There are many other credit card fraud detections using different algorithms giving out different accuracies. As these algorithms are not 100% accurate, we are trying to use different algorithm for better accuracy. So, in this credit card fraud detection project we are trying to detect the fraudulent transactions using better machine learning algorithms

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