Credit Card Fraud Detection Using ML Techniques

With the increasing use of Internet, online banking transactions have also increased. Everyday more and more users are being added to the cyberspace, which has also attracted cybercriminals. These scammers use stolen credit card information for making online purchases. The revolution of online business or commerce has given an increased cybersurface for financial fraud targeting digital cards. By analyzing the cardholder’s transaction activity, using machine learning techniques, we can easily identify the fraudulent activity or transaction. In case of any abnormal behavior, the transaction is termed as fraudulent, and numerous techniques have been proposed by the researchers to prevent these, among these techniques machine learning-based techniques are the most popular. In this paper, we have surveyed the solution with respect to ML-based techniques, conducted experiments, and concluded our findings.