Evaluation and Implementation of Optimal Classification Algorithms for Credit Card Fraud Detection
Sampath Kini K, R. Pushpakumar, Ramasamy Senthamil Selvan, G. D. Praveenkumar, Basi Reddy A · 2024
Nowadays, the credit card industry is more concerned about credit card fraud than any other problem. The main idea is to examine optional techniques used for fraud detection and to identify the different types of credit card fraud. Numerous strategies exist for lowering the prevalence of credit card fraud, each tailored to the specific threats faced by banks and the credit card industry. Credit card fraud prevention is the primary goal of implementing these measures. Existing methods have several unresolved issues that cause legitimate credit card customers to be mistakenly labelled as fraudulent. The amount of fraud in the financial sphere may be inferred from this paper's emphasis on integrating the best classification algorithm out of four distinct methods.