A Novel Classification Scheme for Credit Card Fraud Detection Using Data Mining

The fraud of credit cards has become an important issue in the industry of banking and credit cards. Different bankers and credit card providers have to handle huge amounts of transactions in a day. It is a very challenging task to keep up with the billions of actions or statements that happen in the credit card. The following paper consists of detecting credit card fraud with the Weka (3.8.5) tool. Different classification and preprocessing algorithms have been used to visualize the data. The primary objective of the utilization of these procedures and procedures is to decrease credit card extortion after recognizing it. This paper has examined the different information mining procedures included in credit card false and their comes about, disadvantages and future bearings towards the credit card extortion location industry. The utilized dataset contains transactions made by credit cards in September 2013 by European cardholders.