Fraud Detection in Credit Card Data Using Unsupervised Machine Learning Algorithm
Deepali Kawade, Sanket Lalge, Manisha Prakash Bharati · International Journal for Research in Applied Science and Engineering Technology · 2022
Abstract: We are living in the technology world in which Development of communication and e-commerce has made credit card as the most common technique of payment for both online and offline mode of purchases. As the e-commerce has increased, the buying and selling the product online is becoming very easy and comfortable to everyone in the daily life. Due to this, the online payment and online banking with credit card is increased. The fraud also happens when we lost our credit card or it get stole. Recently due to COVID-19 everything has become contactless so the use of credit card has increased. The transaction is done on online shopping and online payment is done from many places so it become difficult to recognise the real transaction and the fraud transaction. So, it becomes difficulty for the bank to stop fraud detection. In this paper it clearly explains about how fraud can be detected by using the Unsupervised Machine Learning using the algorithm and by using the algorithm technique like Isolated Forest, Local Outlier Factor and One class SVM. Keywords: Introduction, Machine learning, Supervised learning, Unsupervised learning