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It is vital that credit card companies are able to identify fraudulent credit card transactions so that customers are not charged for items that they did not purchase. Such problems can be tackled with Data Science and its importance, along with Machine Learning, cannot be overstated. This project intends to illustrate the modeling of a data set using machine learning with Credit Card Fraud Detection. The Credit Card Fraud Detection Problem includes modeling past credit card transactions with the data of the ones that turned out to be fraud. This model is then used to recognize whether a new transaction is fraudulent or not. Our objective here is to detect 100% of the fraudulent transactions while minimizing the incorrect fraud classifications. Credit Card Fraud Detection is a typical sample of classification. In this process, we have focused on analysing and pre-processing data sets as well as the deployment of multiple anomaly detection algorithms such as Local Outlier Factor and Isolation Forest algorithm on the PCA transformed Credit Card Transaction data. Keywords— Credit card fraud, applications of machine learning, data science, isolation forest algorithm, local outlier factor, automated fraud detection.
Keywords:
Accuracy ,Error-rate, Sensitivity and Specificity are used to report the performance of the system to detect the fraud in the credit card. In this paper, three machine learning algorithms are developed to detect the fraud in credit card stystem.
Cite Article:
"CREDIT CARD FRAUD DETECTION BASED ON NLP AND ML", International Journal of Science & Engineering Development Research (www.ijrti.org), ISSN:2455-2631, Vol.6, Issue 5, page no.76 - 78, May-2021, Available :http://www.ijrti.org/papers/IJRTI2105016.pdf
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ISSN:
2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator