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Analysis on Credit Card Fraud Detection Techniques: Based on Certain Design Criteria

by Masoumeh Zareapoor, Seeja.k.r, M. Afshar Alam
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International Journal of Computer Applications
Foundation of Computer Science (FCS), NY, USA
Volume 52 - Number 3
Year of Publication: 2012
Authors: Masoumeh Zareapoor, Seeja.k.r, M. Afshar Alam
10.5120/8184-1538

Masoumeh Zareapoor, Seeja.k.r, M. Afshar Alam . Analysis on Credit Card Fraud Detection Techniques: Based on Certain Design Criteria. International Journal of Computer Applications. 52, 3 ( August 2012), 35-42. DOI=10.5120/8184-1538

@article{ 10.5120/8184-1538,
author = { Masoumeh Zareapoor, Seeja.k.r, M. Afshar Alam },
title = { Analysis on Credit Card Fraud Detection Techniques: Based on Certain Design Criteria },
journal = { International Journal of Computer Applications },
issue_date = { August 2012 },
volume = { 52 },
number = { 3 },
month = { August },
year = { 2012 },
issn = { 0975-8887 },
pages = { 35-42 },
numpages = {9},
url = { https://ijcaonline.org/archives/volume52/number3/8184-1538/ },
doi = { 10.5120/8184-1538 },
publisher = {Foundation of Computer Science (FCS), NY, USA},
address = {New York, USA}
}
%0 Journal Article
%1 2024-02-06T20:51:52.132363+05:30
%A Masoumeh Zareapoor
%A Seeja.k.r
%A M. Afshar Alam
%T Analysis on Credit Card Fraud Detection Techniques: Based on Certain Design Criteria
%J International Journal of Computer Applications
%@ 0975-8887
%V 52
%N 3
%P 35-42
%D 2012
%I Foundation of Computer Science (FCS), NY, USA
Abstract

Financial fraud is increasing significantly with the development of modern technology and the global superhighways of communication, resulting in the loss of billions of dollars worldwide each year. The companies and financial institution loose huge amounts due to fraud and fraudsters continuously try to find new rules and tactics to commit illegal actions. Thus, fraud detection systems have become essential for all credit card issuing banks to minimize their losses. The most commonly used fraud detection methods are Neural Network (NN), rule-induction techniques, fuzzy system, decision trees, Support Vector Machines (SVM), Artificial Immune System (AIS), genetic algorithms, K-Nearest Neighbor algorithms. These techniques can be used alone or in collaboration using ensemble or meta-learning techniques to build classifiers. This paper presents a survey of various techniques used in credit card fraud detection and evaluates each methodology based on certain design criteria. And this survey enables us to build a hybrid approach for developing some effective algorithms which can perform well for the classification problem with variable misclassification costs and with higher accuracy.

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Index Terms

Computer Science
Information Sciences

Keywords

credit card fraud fraud detection

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