Fraud Detection
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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.
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