Proceedings of the 2023 4th International Conference on Management Science and Engineering Management (ICMSEM 2023)

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Credit Card Fraud Detection Prediction: Machine Learning Algorithm

Authors
Yi Qu1, *, Jiani Jin2
1Department of Finance, Wenzhou-Kean University, Wenzhou, China
2Department of Mathematics, Wenzhou-Kean University, Wenzhou, China
*Corresponding author. Email: qyi@kean.edu
Corresponding Author
Yi Qu
Available Online 9 October 2023.
DOI
10.2991/978-94-6463-256-9_77How to use a DOI?
Keywords
credit card fraud; machine learning; Generalized Linear Model; Decision Tree; Gradient Boosting; Naïve Bayes
Abstract

Someone commits payment fraud when they obtain the payment information of another person and use it for unauthorized transactions or purchases. Owing to the ease and convenience of e-commerce, digital purchasing is becoming increasingly popular today and because of the convenience of online shopping, many individuals prefer to shop online. This has resulted in a substantial rise in credit card fraud. Detecting and preventing payment fraud is difficult because the standard rules-based anti-fraud systems deployed by banks cannot manage the high volume of online transactions. This creates unique difficulties for banks and a substantial increase in losses. Therefore, it is crucial to effectively identify and eliminate fraud. In our research, we use machine learning methods to construct models that can detect and analyze fraudulent payments. We primarily employ the Generalized Linear, Decision Tree, Gradient Boosting, and Naive Bayes Models, and determine that the Generalized Linear Model is the most effective.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2023 4th International Conference on Management Science and Engineering Management (ICMSEM 2023)
Series
Advances in Economics, Business and Management Research
Publication Date
9 October 2023
ISBN
10.2991/978-94-6463-256-9_77
ISSN
2352-5428
DOI
10.2991/978-94-6463-256-9_77How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Yi Qu
AU  - Jiani Jin
PY  - 2023
DA  - 2023/10/09
TI  - Credit Card Fraud Detection Prediction: Machine Learning Algorithm
BT  - Proceedings of the 2023 4th International Conference on Management Science and Engineering Management (ICMSEM 2023)
PB  - Atlantis Press
SP  - 760
EP  - 767
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-256-9_77
DO  - 10.2991/978-94-6463-256-9_77
ID  - Qu2023
ER  -