Credit Card Fraud Detection Techniques: A Review

The prediction analysis is the approach which can predict future possibilities on the current data. When the physical-card based purchasing technique is applied, the card is given by the cardholder to the merchant so that a successful payment method can be performed. The fraudulent transactions are conducted by the attacker by stealing the credit card. When the loss of the card is not noticed by the cardholder, a huge loss can be faced by the credit card company. A very little amount of information is required by the attacker for conducting any fraudulent transaction in online transactions. In this research work, various credit card fraud detection techniques are reviewed in terms of certain parameters.