In today’s financial world, various technologies have been emerged and with the evolution in the technologies it has led to the increase in the fraud cases. The sustainable growth of businesses and the financial markets are severely harmed by financial statement fraud. Consequently, it is crucial and vital to build an efficient methodology to identify financial statement fraud in businesses. Usage of credit card are very frequent these days and due to loopholes in the system fraud cases in credit card is rising which causes huge financial losses. In this paper the focus is on credit card fraud detection in real world with the help of machine learning. In this case Logistic Regression, Decision tree method and SVM (support vector machine) are applied on credit card fraud detection for knowledge discovery among the data. The applied methods can detect the fraudulent transactions with highest accuracy. However, the results are predicted using evaluation metrics such as accuracy, error rate, specificity, sensitivity, and ROC curves are calculated to assess each model's performance. Hence, the predicted results suggested that logistic regression is the most accurate model for prediction of fraud datasets in financial sustainability.

错误:搜索内容不能为空,请输入英文关键词
错误:关键词超出字数限制,请精简
高级检索

Machine Learning in Fraud Detection for Financial Sustainability in Credit Card

  • Harleen Kaur,
  • Ritu Chauhan,
  • Yezdanul Haque Shamsi,
  • Bhavya Alankar

摘要

In today’s financial world, various technologies have been emerged and with the evolution in the technologies it has led to the increase in the fraud cases. The sustainable growth of businesses and the financial markets are severely harmed by financial statement fraud. Consequently, it is crucial and vital to build an efficient methodology to identify financial statement fraud in businesses. Usage of credit card are very frequent these days and due to loopholes in the system fraud cases in credit card is rising which causes huge financial losses. In this paper the focus is on credit card fraud detection in real world with the help of machine learning. In this case Logistic Regression, Decision tree method and SVM (support vector machine) are applied on credit card fraud detection for knowledge discovery among the data. The applied methods can detect the fraudulent transactions with highest accuracy. However, the results are predicted using evaluation metrics such as accuracy, error rate, specificity, sensitivity, and ROC curves are calculated to assess each model's performance. Hence, the predicted results suggested that logistic regression is the most accurate model for prediction of fraud datasets in financial sustainability.