A Model for Credit Card Fraud Detection: A Review
摘要
In today’s cashless society, credit cards offer unparalleled convenience, driving a widespread adoption of electronic transactions. Both individuals and governments are embracing this trend, emphasizing the importance of secure payment methods. However, with the surge in credit card usage comes a corresponding increase in fraudulent activities, leading to substantial losses for both consumers and financial institutions. Recognizing this challenge, there is a growing demand for robust fraud detection mechanisms to safeguard transaction integrity. This paper aims to explore the application of machine learning for enhancing fraud detection in credit card transactions, addressing the pressing need for a secure transaction environment.