Credit card Fraud Detection based on Machine Learning Algorithms

Now a days online transactions have become an important and necessary part of our lives. As frequency of transactions is increasing, number of fraudulent transactions are also increasing rapidly. In order to reduce fraudulent transactions, machine learning algorithms like Nave Bayes, Logistic regression, J48 and AdaBoost etc. are discussed in this paper. The same set of algorithms are implemented and tested using an online dataset. Through comparative analysis it can be concluded that Logistic regression and AdaBoost algorithms perform better in fraud detection.