Credit Card Fraud Detection Using Machine Learning & Python
International Research Journal of Modernization in Engineering Technology and Science · 2023
In recent years, credit cards have taken on important roles in people's lives.The danger of fraud has increased as a result of the unexpected boom in e-commerce and the widespread usage of credit cards for online purchases.Instead, than carrying around a lot of cash, it is easier to keep credit cards on hand.But that's also dangerous now.A serious problem that is now on the increase dramatically is credit card fraud .Currently, new researchers are having a lot of trouble detecting credit card fraud.We put in place a clever algorithm that can spot any type of fraud in a credit card transaction.By identifying a trend for each consumer in between fraudulent and legal transactions, we were able to solve the issue.The pattern of each customer's transactions is predicted using the isolation forest algorithm and the local outlier factor, and decisions are then made in light of that information.All attributes are tagged similarly to avoid data mismatches.