Advancement in Credit Card Fraud Detection: A Comprehensive Review of Machine Learning Techniques
Shruti Chawla, Sidhant Singh Bhadauriya, Abhishake Bansal, Chetna Sharma, Nomita Patwal · 2024
Credit card fraud detection involves identifying unauthorized or fraudulent transactions made with a credit or debit card. Credit card fraud is the unauthorized use of someone's credit card information to make purchases or access funds. The paper aims to discuss and review machine learning techniques used in credit card fraud detection. These methodologies include Neural Networks Logistics regression, Random Forest, and Decision trees. Machine learning techniques are widely used because of their ability to analyse vast amounts of training data which finds designs that are associated with fraud activities and do predictions using test data in credit card fraud detection.