Credit Card Fraud Detection Using Machine Learning Approach

Abstract

Using new spam technologies to carry out internet banking fraud refers to shifting and withdrawing money from the user’s balance account without it’s authorization. Credit card fraud pops into the mind so far in the current scenario when the concept of fraud bursts into some conversation. Credit card fraud has escalated tremendously in recent times due to the incredible growth in credit card purchases. In order to assess, identify or prevent undesirable conduct, fraud detection requires tracking the purchase behavior of users/customers. The purpose of this project is to predict the genuine and fraud transactions with respect to the amount of the transaction utilizing various machine learning approaches like Logistic Regression, Decision Trees, Support Vector Machine, Naïve Bayes, Random Forest and K-Nearest Neighbor. The model built who has greater accuracy and precision is considered to be best fit for this system.