Credit Card Fraud Detection System based on Operational & Transaction features using SVM and Random Forest Classifiers | IEEE Conference Publication | IEEE Xplore

Credit Card Fraud Detection System based on Operational & Transaction features using SVM and Random Forest Classifiers

Publisher: IEEE

Abstract:

This paper proposes a Credit Card Fraud Detection system based on Operational & Transaction features using Support Vector Machine (SVM) and Random Forest (RF) classifiers...View more

Abstract:

This paper proposes a Credit Card Fraud Detection system based on Operational & Transaction features using Support Vector Machine (SVM) and Random Forest (RF) classifiers. In this system, in the first phase, the operational features of users are extracted, and then a random forest classifier is used to classify the features into benign and suspected. In the second phase, the transaction features of users are extracted from the user records, and then the M-class SVM classifier is applied to classify the features into benign and suspected. The performance of the system is evaluated in terms of standard measures precision, accuracy, recall, and F-1 score. By results, it was shown that both RF and SVM classifiers achieve a higher detection rate with good accuracy.
Date of Conference: 19-21 January 2021
Date Added to IEEE Xplore: 25 February 2021
ISBN Information:
Publisher: IEEE
Conference Location: Dubai, United Arab Emirates

I. Introduction

In the present world, business organizations magnify the accessibility of financial amenities by using credit cards, Automated Teller Machines (ATM), and mobile banking services. With the fast growth of e-commerce, the usage of credit cards has turned out to be an easy and essential part of financial being. A credit card is an imbursement card provided to clients as a scheme of imbursement [1].

References

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