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Fraud Detection in Online Transaction

Gunjan Sahoo, Dr Manjula V, K Anuradha Bhakta, Poojashree S A, Divya D Shenoy

Abstract


Credit card fraud ranges from larceny and fraud committed involving a payment card, like a credit card or debit card, as a deceitful supply of funds during the payments. The aim may also be to get merchandise by not paying and also getting unauthorized funds from an account. These frauds are also an adjunct to identity theft. Though incidences of credit card fraud are restricted to about 0.1% of all card transactions, they have resulted in financial loss as the transactions have been large sum. In this present digital era there is increased demand for a secure online transaction and there is a need for the development of a model which can detect frauds earlier on so that the transactions can be made safe to ensure that more people start using online payment methods. Our aim is to apply different machine learning techniques to build a model and predict the transaction data to meet this requirement.


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References


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