A Survey for Credit Card Fraud Detection Using Machine Learning

Abstract: Fraud is increasing with the expansion of modern technology and the globe of communication, results in the loss of billions of dollars every year. Though preventions are the best way to reduce fraud, fraudsters are adaptive, they will usually find there ways to avoid such measures. Methods for the detection of fraud are vital. If we are to catch the fraudsters once fraud prevention has failed. Effective technologies for fraud detection has been provided by statistics and machine learning and they have been applied successfully to detect activities such as money laundering, e-commerce credit card fraud, computer intrusion and telecommunications frauds. The areas in which fraud detection technologies are most used are describes the tools available for statistical fraud detection

Keywords: Fraud detection, credit card fraud, money laundering, computer intrusion, telecommunication fraud.