Implementation of Novel Approach for Credit Card Fraud Detection
Ayushi Agrawal, Shiv Kumar, Amit Kumar Mishra · International Conference on Computing for Sustainable Global Development · 2015
In this research work, it is tried to develop a technique for ‘Credit Card Fraud Detection’. Credit Card can be accepted for each online and offline in today's world. There are combinations of methods used. Firstly, Shopping Behavior is based on which type of products customer buys. Secondly, Spending Behavior in this the fraud is detected based on the maximum amount spent. Thirdly, Hidden Markov Model in this technique profiles are maintained and statistics of a particular user and statistics of different fraud scenarios are clustered. Genetic Algorithm is used for calculation of threshold and accurate frauds. Finally average is taken out by summing the result. The main task of this research work is to explore different views of the same problem and see what can be learned from the application of each different technique.