ANALYSIS ON CREDIT CARD FRAUD DETECTION TECHNIQUE

Abstract

Due to fast growth of E-Commerce, use of credit cards for online purchases has dramatically increased and it caused an increase in the credit card fraud. As credit card has became the most popular mode of payment for online and regular purchase, frauds associated with it are rising.  In real life, fraudulent transactions are scattered with real transactions and simple pattern matching techniques are not often sufficient to detect those frauds accurately. Implementation of recent fraud detection systems has thus become imperative for all credit card issuing banks to minimize their losses. Many techniques based on Artificial Intelligence, Data mining, Fuzzy logic, Sequence Alignment, Genetic Programming, Machine learning has evolved in detecting various credit card fraudulent transactions. This paper represents genetic algorithm used for credit card fraud detection mechanism which will detect the fraudulent transactions based upon credit card user behavior.