DETECTION AND PREDICTION OF CREDIT CARD FRAUD TRANSACTIONS USING MACHINE LEARNING

The era of variety in digital convenience to make customers loyal to brands, brings along with it an empirical universe of financial fraud. In banks and other financial institutions have shown a higher leap of financial fraud over the past year. This paper describes probability of fraudulent transactions in prevalence and context of credit card usage. A conscious effort is put to bring in a conceptual distinction between fraud detection and predicting probable fraudulent opportunities on the digital space of financial transactions. This emerges a new dimension of financial fraud as a complex phenomenon that can take very different forms, depending on the market segments and the actors involved.