Fraud Detection

Abstract

One of the most commonly used payment  methods nowadays is the credit card payment method. It  plays a very important role in today’s economy. In order to  detect such frauds, the credit card fraud detection system  has been introduced. The aim of fraud detection system  is to detect fraudulent activities before it has commenced  and it is necessary to identify the types of credit card  fraud as the card can either be stolen by a person or  the information can be misused for his personal use. A  number of research works has been done to develop to  solutions for detecting fraud activities. Modelling of the  past data along with credit card transactions can be done  to detect any fraudulent activities that has taken place.