DESIGN AND IMPLEMENTATION OF AN APPLICATION FOR CREDIT CARD FRAUD DETECTION

Abstract

Credit card plays a very important role in today's economy. It becomes an unavoidable part of household, business and global activities. Although using credit cards provides enormous benefits when used carefully and responsibly, significant credit and financial damages may be caused by fraudulent activities. The rapid growth in E-Commerce industry has lead to an exponential increase in the use of credit cards for online purchases and consequently they has been surge in the fraud related to it .In recent years, For banks has become very difficult for detecting the fraud in credit card system. Machine learning plays a vital role for detecting the credit card fraud in the transactions. For predicting these transactions banks make use of various machine learning methodologies, past data has been collected and new features are been used for enhancing the predictive power.