Credit Card Fraud Detection Using Machine Learning Algorithms

It is crucial for credit card firms to be aware of credit card sales that are fraudulent so they can stop charging customers for goods they did not purchase. The credit card detection issue involves modelling previous credit card transactions using the information from these that were later determined to be fraudulent. Afterwards, in a new transaction is analyzed using this model to determine whether it is fraudulent or not. Our goal is to completely identify fraudulent transactions while reducing erroneous fraud categories. The goal in this is to study which is to demonstrate how modelling data sets are utilized in machine learning to detect credit card fraud. Both the theoretical and application portions of this article have been covered.