Credit card scam detection using machine learning
S. Nikhitha, S Shivani, Gandikota Harshavardhan, N. Sworup, Nimrita Koul · AIP conference proceedings · 2024
Finanical frauds have been a challenge to the corporate and government sector since a long time.Lately credit card based transactions have increased and so have the cases of fraudulent transactions using credit cards.These lead to massive financial losses in e-commerce and many other online payment methods.In this paper, we have implemented two machine learning technique -LOF(local outlier factor) and isolation forest to detect outliers and classify the transactions as fraudulent.fraudulent respectively.We obtained very good classification performance of 99% with the proposed method.